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.
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“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).
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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.
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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.
(Edited by : Shoma Bhattacharjee)
