Engineering and construction firm ITD Cementation India Ltd on Tuesday (December 31) said it has been awarded a marine contract valued at ₹1,648 crore (excluding GST). The project involves constructing nearshore reclamation and shore protection for the greenfield Vadhvan Port, located in Dahanu, Maharashtra.
“ITD Cementation India has secured a marine contract worth ₹1,648 crore excluding GST for construction of Near Shore Reclamation and Shore Protection for Greenfield Vadhvan Port at Dahanu in Maharashtra,” the company stated in a stock exchange filing.
Situated in Palghar, Vadhvan Port will be India’s largest deep-water port with an investment of ₹76,220 crore. The project will be constructed by Vadhavan Port Project Limited (VPPL), an SPV (special purpose vehicle) formed by Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB).
ITD Cementation India reported a 34.3% year-on-year (YoY) surge in net profit at ₹72 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, the company posted a net profit of ₹53.6 crore.
Revenue from operations increased 23.6% to ₹1,991 crore against ₹1,610.4 crore in the year-ago period. At the operating level, EBITDA increased 15% to ₹181.7 crore in the second quarter of this fiscal over ₹158 crore in Q2 of FY24.
The EBITDA margin stood at 9.1% in the reporting quarter compared to 9.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
For the first half of FY25, ITD Cementation reported a 27% YoY growth in total operating income, which reached ₹4,372 crore. The company’s EBITDA also saw a 27% YoY increase, totalling ₹442 crore, with an EBITDA margin of 10.1%. Net profit after tax (PAT) surged 63% YoY, reaching ₹172 crore.
Shares of ITD Cementation India Ltd ended at ₹539.10, up by ₹6.30, or 1.18%, on the BSE.
