Cemindia's order book hits record ₹31,307 cr on ₹8,500 cr in Q1 wins
Revenue rose 5.6% YoY to ₹2,721 cr, net profit ₹141 cr. New orders include Delhi metro and Rajasthan reservoir projects. Management guided for 20–25% top-line growth in FY27.
— 3 earlier stories on Cemindia Projects Ltd. →What's new
- Q1 FY27 revenue ₹2,721 cr (+5.6% YoY), net profit ₹141 cr
- Order book surged to record ₹31,307 cr from ₹21,879 cr in Dec 2025
- ₹8,500+ cr in new orders, including Delhi metro and Rajasthan reservoir
Why this matters
The order book now covers over three years of trailing revenue, giving exceptional visibility. Execution of large projects like the Delhi metro will be key to delivering the guided 20-25% growth. The Adani acquisition is already showing in order momentum.
What we're watching
- Conversion of record backlog into revenue in coming quarters
- Margin delivery against 10-10.5% EBITDA guidance
- Further order wins in infrastructure and metro segments
The full read
Cemindia Projects' Q1 numbers were routine—revenue up 5.6% to ₹2,721 crore, net profit ₹141 crore. The story is in the order book. It hit a record ₹31,307 crore after the company landed over ₹8,500 crore in new business, including a Delhi underground metro and a Rajasthan reservoir. That's up from ₹21,879 crore just six months ago, before the Adani acquisition closed. Revenue visibility now exceeds three times trailing sales. Management's guidance of 20-25% top-line growth for FY27 with 10-10.5% EBITDA margins looks credible given the pipeline. Net debt remains low at 0.28x equity. The execution test: turning this record backlog into reported revenue.
Questions answered
- How big is the order book relative to annual revenue?
- At ₹31,307 crore, the order book is about 3.1 times trailing twelve-month revenue of around ₹10,000 crore, providing strong multi-year visibility.
- What were the key project wins in Q1?
- Cemindia secured over ₹8,500 crore in new orders, including an underground metro project in Delhi and a reservoir project in Rajasthan.
- How has the order book grown since the Adani acquisition?
- The order book has jumped from ₹21,879 crore in December 2025 (pre-acquisition) to ₹31,307 crore in June 2026, a 43% increase in six months.
- What is the company's debt position?
- Net debt stood at ₹700 crore, which is only 0.28 times equity, indicating a conservative balance sheet.
- What is the financial guidance for FY27?
- Management guided for 20-25% revenue growth and an EBITDA margin of 10-10.5% for the full year.
- Who owns Cemindia Projects?
- The Adani group acquired the company in May 2025. It was formerly known as ITD Cementation India.
Cemindia Projects Ltd.
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All notes on CEMPRO →- 28 Jul 2026 · 2:51 PM IST Cemindia's order book hits record ₹31,307 cr on ₹8,500 cr in Q1 wins
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