ITD Cementation soars 13% on Rs 1,001 crore order-win; zooms 54% in 1 month
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Shares of ITD Cementation India surged 13 per cent on the BSE to hit a new high of Rs 305 in Friday’s intra-day trade on the back of heavy volumes after the company won new orders worth of Rs 1,001 crore.
The stock of the civil construction company has zoomed 54 per cent in past one month.
Today, the average trading volumes on the counter more than doubled with a combined 3.8 million equity shares having changed hands on the NSE and BSE.
In an exchange filing, ITD Cementation said it has secured a contract for civil and hydro mechanical works of 500 MW hydel power, pumped storage project worth approximately Rs 1,001 crore excluding GST in Andhra Pradesh.
ITD Cementation is one of the leading engineering and construction companies undertaking heavy civil, infrastructure and EPC business and operating in India with an established presence and expertise in maritime structures, mass rapid transit systems, airports, hydro-electric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial structures and buildings, foundation & specialist engineering.
Earlier, on August 10, ITD Cementation, in a joint venture with Transrail Lighting, secured a contract in Bangladesh for design, supply, installation, testing and commissioning of Jamuna river crossing portion of Bogura-Kaliakair 400 kV double circuit transmission line on turnkey basis (Package-01, Lot-03) from Power Grid Company of Bangladesh (PGCB) worth $205 million excluding taxes and duties.
As on September 30, 2023, ITD Cementation had an all-time high consolidated order book of Rs 22,080 crore.
Meanwhile, for the July to September quarter (Q2FY24), the company had posted robust operational performance with 78 per cent year-on-year (YoY) growth in earnings before interest, taxes, depreciation, and amortization (EBITDA) at Rs 172 crore.
Margin was at 10.7 per cent. Profit after tax during quarter more tha doubled to Rs 54 crore against Rs 20 crore in a year ago quarter. Operating income grew 56 per cent YoY at Rs 1,610 crore.
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