ITD Cementation Targets 25–30% Top-Line Growth In FY26

ITD Cementation India Ltd. is eyeing a top-line growth of 25–30% in the current financial year and the company is also focusing on cost control and improving its margin, according to Chief Financial Officer Prasad Patwardhan.

"A 25% to 30% growth in top line is definitely possible in FY26," he said during a conversation with NDTV Profit on Wednesday. "It is difficult to give guidance on order booking, but it will significantly improve this year."

"There may not be too much scope for the margins to improve. Our focus is on cost control and improvement of margins. We will see margins inch up in the current year as well," the CFO added.

Historically, 75–80% of the engineering and construction company's order book has come from the government sector and public sector undertakings. The remainder comprised private sector orders and this composition can change a bit in FY26, according to Patwardhan. "Our focus is on orders in India and some select orders overseas."

In India, most of ITD Cementation's orders come from the Union government rather than the state governments. On the government receivables, an issue plaguing some industry players, Patwardhan clarified that the company did not have significant orders from state governments. "Where we do, receivables are coming in on time without issues."

The company is executing two overseas orders, one each in Sri Lanka and Bangladesh. It is also looking for opportunities in the Middle East and other countries, he said.

"Overseas orders may be from the private space, but the infrastructure development in India continues to be largely driven by government expenditure. We are also seeing a pickup in orders or tenders coming up from the private sector as well," the CFO said.

He acknowledged that order inflows had been slightly lower than guided in the past year, partly due to a slowdown during the Lok Sabha elections and a generally slower pace of new tenders emerging.

However, he highlighted a significant enhancement in the company's execution capabilities over the last couple of years. "We were probably doing Rs 1,500 crore or Rs 1,800 crore a quarter, which has now gone to about Rs 2,400 crore in Q4 FY25," he said.

ITD Cementation reported an uptick in both top line and bottom line in the fourth quarter of financial year 2025. The net profit of the company grew 27% to Rs 113 crore in the March quarter compared to Rs 89.5 crore in the year-ago period.

The company reported an 18% revenue growth in Q4 FY25. He attributed this success to starting the year with a strong order book and then executing projects well throughout the year. 

Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.