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Raymond Moses: Unleashing the Financial Potential of Billions!
BSE: 509496 | NSE: ITDCEM | Engineering - Construction | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that ITD Cementation India Ltd is a average quality company.
The key valuation ratios of ITD Cementation India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of ITD Cementation India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Dec'14 | Dec'15 | Dec'16 | Dec'17 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 12.9% | 4.4% | 18.7% | 21.2% | 19.5% | 12.4% | 10.5% | 15.1% | 19.4% | 27.8% | - |
| Value Creation Index ⓘ | -0.1 | -0.7 | 0.3 | 0.5 | 0.4 | -0.1 | -0.3 | 0.1 | 0.4 | 1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,570 | 3,025 | 2,938 | 2,061 | 2,536 | 2,861 | 2,728 | 3,809 | 5,091 | 7,718 | 8,647 |
| Sales YoY Gr. | - | 92.7% | -2.9% | -29.9% | 23.1% | 12.8% | -4.7% | 39.6% | 33.7% | 51.6% | - |
| Adj EPS ⓘ | -3 | 1.3 | 3.4 | 4.8 | 3.8 | 2.6 | 0.9 | 4 | 7.2 | 15.6 | 19.8 |
| YoY Gr. | - | NA | 162.6% | 39.8% | -20.2% | -31.8% | -66.4% | 358% | 78.9% | 115.7% | - |
| BVPS (₹) ⓘ | 36.6 | 32.8 | 35.6 | 39.8 | 47.5 | 61.3 | 62 | 65.9 | 72 | 87 | 95 |
| Adj Net Profit ⓘ | -46.5 | 20.4 | 53.5 | 74.6 | 66 | 44.9 | 15.2 | 69.3 | 124 | 267 | 340 |
| Cash Flow from Ops. ⓘ | 43.6 | 465 | 326 | 68.2 | -107 | 447 | 191 | 339 | 471 | 704 | - |
| Debt/CF from Ops. ⓘ | 17.5 | 1.3 | 1.1 | 7.2 | -4 | 1.1 | 2.1 | 1.5 | 1.5 | 1.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 19.4% | 24.9% | 41.4% | 51.6% | ||||
| Adj EPS ⓘ | NA | 32.3% | 160.5% | 115.7% | ||||
| BVPSⓘ | 10.1% | 12.8% | 11.9% | 20.7% | ||||
| Share Price | 29.2% | 57.4% | 90.8% | 136.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Dec'14 | Dec'15 | Dec'16 | Dec'17 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -9.5 | 3.8 | 10.1 | 12.8 | 10.1 | 4.3 | 1.4 | 6.3 | 10.5 | 19.6 | 21.8 |
| Op. Profit Mgn % ⓘ | 4.5 | 5.4 | 9.1 | 13.5 | 10.3 | 10.4 | 7.8 | 7.8 | 7.9 | 9.7 | 9.6 |
| Net Profit Mgn % ⓘ | -3 | 0.7 | 1.8 | 3.6 | 2.6 | 1.6 | 0.5 | 1.8 | 2.4 | 3.5 | 3.9 |
| Debt to Equity ⓘ | 1.4 | 1.2 | 0.7 | 0.8 | 0.5 | 0.5 | 0.4 | 0.5 | 0.6 | 0.6 | 0.1 |
| Working Cap Days ⓘ | 394 | 224 | 202 | 276 | 220 | 256 | 274 | 215 | 210 | 179 | 99 |
| Cash Conv. Cycle ⓘ | 256 | 107 | 10 | -73 | -17 | 10 | 13 | 2 | 5 | 5 | 8 |
Return on Equity has increased versus last 3 years average to 21.80%
Sales growth is growing at healthy rate in last 3 years 41.44%
Net Profit is growing at healthy rate in last 3 years 160.46%
Debt to equity has declined versus last 3 years average to 0.58
Sales growth is good in last 4 quarters at 35.99%
No data to display
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 19.8 | 19.8 |
| TTM Sales (₹ Cr.) | 8,433 | 8,647 |
| BVPS (₹.) ⓘ | 95 | 95 |
| Reserves (₹ Cr.) ⓘ | 1,614 | 1,614 |
| P/BV ⓘ | 5.71 | 5.71 |
| PE ⓘ | 27.40 | 27.40 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 216.70 / 694.45 |
| All Time Low / High (₹) | 2.70 / 694.45 |
| Market Cap (₹ Cr.) | 9,321 |
| Equity (₹ Cr.) | 17.2 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 38.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Dec'14 | Dec'15 | Dec'16 | Dec'17 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,570 | 3,025 | 2,938 | 2,061 | 3,170 | 2,861 | 2,728 | 3,809 | 5,091 | 7,718 |
| Operating Expenses ⓘ | 1,501 | 2,863 | 2,673 | 1,789 | 2,848 | 2,565 | 2,515 | 3,516 | 4,691 | 6,973 |
| Manufacturing Costs | 589 | 1,513 | 1,500 | 697 | 1,037 | 974 | 1,110 | 1,682 | 2,139 | 3,051 |
| Material Costs | 495 | 764 | 659 | 622 | 1,196 | 1,066 | 853 | 1,239 | 1,771 | 2,919 |
| Employee Cost | 194 | 222 | 222 | 257 | 398 | 346 | 345 | 373 | 482 | 619 |
| Other Costs ⓘ | 224 | 364 | 293 | 212 | 217 | 179 | 207 | 222 | 299 | 383 |
| Operating Profit ⓘ | 69 | 162 | 264 | 271 | 322 | 296 | 213 | 293 | 400 | 745 |
| Operating Profit Margin (%) | 4.4% | 5.4% | 9.0% | 13.2% | 10.2% | 10.3% | 7.8% | 7.7% | 7.9% | 9.7% |
| Other Income ⓘ | 41 | 51 | 27 | 35 | 19 | 5 | 12 | 12 | 29 | 48 |
| Interest ⓘ | 136 | 138 | 89 | 88 | 124 | 130 | 138 | 142 | 165 | 218 |
| Depreciation ⓘ | 43 | 37 | 46 | 58 | 82 | 96 | 100 | 103 | 114 | 208 |
| Exceptional Items ⓘ | 96 | -124 | 0 | -22 | 0 | -41 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 27 | -85 | 99 | 126 | 135 | 60 | 20 | 94 | 184 | 383 |
| Tax ⓘ | 7 | -25 | 48 | 53 | 51 | 16 | 4 | 24 | 59 | 109 |
| Profit After Tax | 19 | -59 | 51 | 73 | 83 | 44 | 16 | 69 | 125 | 274 |
| PAT Margin (%) | 1.2% | -2.0% | 1.7% | 3.5% | 2.6% | 1.5% | 0.6% | 1.8% | 2.5% | 3.6% |
| Adjusted EPS (₹) | 1.3 | -3.8 | 3.3 | 4.7 | 4.8 | 2.5 | 1.0 | 4.1 | 7.2 | 15.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 9% | 9% | 8% | 12% | 12% | 11% | 10% | 11% |
| PARTICULARS | Dec'14 | Dec'15 | Dec'16 | Dec'17 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 568 | 508 | 552 | 617 | 1,021 | 1,053 | 1,066 | 1,131 | 1,238 | 1,494 |
| Share Capital ⓘ | 16 | 16 | 16 | 16 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves ⓘ | 552 | 493 | 537 | 602 | 1,004 | 1,035 | 1,049 | 1,114 | 1,220 | 1,477 |
| Minority Interest | 0 | 0 | 1 | 1 | 2 | 3 | 3 | 3 | 4 | 4 |
| Debt | 722 | 574 | 334 | 447 | 521 | 461 | 390 | 478 | 618 | 717 |
| Long Term Debt | 40 | 12 | 41 | 25 | 17 | 17 | 87 | 87 | 168 | 133 |
| Short Term Debt | 681 | 562 | 293 | 422 | 504 | 444 | 303 | 391 | 450 | 583 |
| Trade Payables | 417 | 754 | 614 | 622 | 559 | 657 | 727 | 937 | 1,334 | 1,647 |
| Others Liabilities ⓘ | 473 | 564 | 399 | 706 | 592 | 949 | 1,001 | 1,060 | 1,947 | 2,189 |
| Total Liabilities ⓘ | 2,180 | 2,401 | 1,900 | 2,393 | 2,695 | 3,123 | 3,187 | 3,610 | 5,141 | 6,051 |
Fixed Assets | ||||||||||
| Gross Block | 570 | 607 | 422 | 553 | 690 | 869 | 934 | 1,058 | 1,331 | 1,724 |
| Accumulated Depreciation | 235 | 258 | 36 | 92 | 160 | 245 | 333 | 404 | 483 | 643 |
| Net Fixed Assetsⓘ | 335 | 349 | 385 | 462 | 529 | 624 | 601 | 655 | 847 | 1,081 |
| CWIP ⓘ | 3 | 3 | 6 | 38 | 7 | 5 | 53 | 2 | 117 | 10 |
| Investmentsⓘ | 0 | 0 | 1 | 1 | 1 | 255 | 194 | 113 | 45 | 5 |
| Inventories | 1,131 | 1,175 | 111 | 157 | 246 | 289 | 337 | 400 | 577 | 684 |
| Trade Receivables | 413 | 309 | 215 | 240 | 437 | 585 | 531 | 622 | 1,080 | 1,211 |
| Cash Equivalents | 27 | 148 | 165 | 116 | 109 | 281 | 207 | 491 | 630 | 896 |
| Others Assetsⓘ | 270 | 417 | 1,018 | 1,379 | 1,367 | 1,083 | 1,264 | 1,327 | 1,844 | 2,164 |
| Total Assets ⓘ | 2,180 | 2,401 | 1,900 | 2,393 | 2,695 | 3,123 | 3,187 | 3,610 | 5,141 | 6,051 |
| PARTICULARS | Dec'14 | Dec'15 | Dec'16 | Dec'17 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 44 | 465 | 326 | 68 | -134 | 447 | 191 | 339 | 471 | 704 |
| PBT ⓘ | 27 | -85 | 99 | 126 | 135 | 60 | 20 | 94 | 184 | 383 |
| Adjustment ⓘ | 89 | 298 | 191 | 165 | 204 | 241 | 197 | 213 | 238 | 409 |
| Changes in Working Capital ⓘ | -79 | 277 | 68 | -227 | -417 | 189 | -4 | 91 | 150 | -11 |
| Tax Paid ⓘ | 6 | -25 | -33 | 4 | -56 | -43 | -22 | -59 | -101 | -77 |
| Cash Flow From Investing Activity ⓘ | -38 | -104 | -20 | -157 | -133 | -87 | -51 | -25 | -438 | -419 |
| Capex | -46 | -46 | -95 | -171 | -125 | -93 | -111 | -95 | -402 | -336 |
| Net Investments | 6 | -61 | 60 | 0 | -15 | 4 | 57 | 67 | -41 | -102 |
| Others ⓘ | 2 | 3 | 15 | 13 | 6 | 2 | 3 | 4 | 5 | 18 |
| Cash Flow From Financing Activityⓘ | -4 | -302 | -222 | 40 | 244 | -212 | -250 | -56 | 28 | -123 |
| Net Proceeds from Shares ⓘ | 140 | 0 | 0 | 0 | 331 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | -46 | 26 | 3 | -38 | 2 | 76 | 19 | 151 | 3 |
| Interest Paid ⓘ | -139 | -137 | -90 | -87 | -123 | -115 | -128 | -135 | -157 | -227 |
| Dividend Paid ⓘ | -1 | 0 | 0 | -5 | -7 | -7 | -5 | -2 | -8 | -13 |
| Others ⓘ | -4 | -119 | -158 | 128 | 81 | -92 | -192 | 63 | 41 | 113 |
| Net Cash Flow ⓘ | 1 | 59 | 83 | -49 | -24 | 147 | -110 | 258 | 61 | 162 |
| PARTICULARS | Dec'14 | Dec'15 | Dec'16 | Dec'17 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.98 | -11.02 | 9.66 | 12.47 | 10.15 | 4.22 | 1.51 | 6.31 | 10.53 | 20.08 |
| ROCE (%) | 12.93 | 4.35 | 18.66 | 21.18 | 19.47 | 12.38 | 10.54 | 15.08 | 19.36 | 27.84 |
| Asset Turnover Ratio | 0.78 | 1.32 | 1.37 | 0.96 | 1.25 | 0.98 | 0.86 | 1.12 | 1.16 | 1.38 |
| PAT to CFO Conversion(x) | 2.32 | N/A | 6.39 | 0.93 | -1.61 | 10.16 | 11.94 | 4.91 | 3.77 | 2.57 | Working Capital Days |
| Receivable Days | 95 | 44 | 33 | 40 | 39 | 65 | 75 | 55 | 61 | 54 |
| Inventory Days | 243 | 139 | 80 | 24 | 23 | 34 | 42 | 35 | 35 | 30 |
| Payable Days | 228 | 261 | 379 | 362 | 180 | 208 | 296 | 245 | 234 | 186 |
ITD Cementation India was incorporated on 1978 as Cemindia Company Limited and obtained Certificate of Commencement of Business on 6th November, 1978.
In 1994, the company changed its name to Trafalgar House Construction India Limited in order to reflect direct relationship with its then holding company and obtained fresh certificate of incorporation on 7th September 1994.
In the year 1996 Kvaerner ASA, acquired Trafalgar House Plc. Consequent upon this acquisition the Company changed its name to Kvaerner Cementation India Limited and obtained Fresh Certificate of Incorporation on 1st September, 1998.
In the year 2000 Skanska AB, entered into an agreement with Kvaerner Plc, to acquire the entire issued share capital of Kvaerner Construction Group Limited. Pursuant to the transaction, the control of this company changed from Kvaerner ASA to Skanska AB.
Pursuant to the requirements of SEBI Takeover Code Skanska AB made an offer to the public shareholders of this company to acquire fully paid up equity shares of this company. Subsequently the company changed its name to Skanska Cementation India Limited and obtained Fresh Certificate of Incorporation on 11th July, 2001.
The company operates in 3 business divisions which include bridges and industries division which is involved in construction of flyovers and bridges, steel and petrochemical plants, refiners, technical centers, and shopping malls, marine division which undertakes the construction of quays which handle cargo at ports and specialist engineering division which constructs railways and roads, power stations for hydroelectricity, diaphragm walling, and piling.
The company started its business in India in the year 1931 as a branch office of the Cementation Company Limited, United Kingdom (CCL UK) a member of the Trafalgar House Group for carrying on construction activities in India. Later in 1978, Reserve Bank of India granted permission to CCL, U.K. to continue to carry on its activities in India subject to India branch of CCL, U.K., being converted into an Indian company thus it was incorporated in 1978.
Over the years it has completed various projects as the rehabilitation and widening work on a highway in the Visag-Ichhapuram section; design and construction of a 450 M long structural steel bridge over Mandovi River, Goa; construction of Mansi Wakal dam, Udaipur; work on five elevated stations along the Qutub Minar-Gurgoan corridor for Delhi Metro Rail corporation (DMRC), shore piling for Bombay Dyeing at Mumbai, road development of second container terminal at Chennai international Terminals Private Limited, construction of diaphragm wall and its supporting slab on the bank of Sabarmati River for renovating water, construction of dam, powerhouse, switchyard and tunnel for the Umtru Hydro Electric Project for Megalaya State Electricity Board; Project Seabird (Defence Ministry) 6500 DWT Shiplift Civil Works; Container Berth and Yard at Mundra for Gujarat Adani Port Ltd / P & O; Liquid handling jetty for GCPTCL at Dahej and many more.
Some of the recently received projects (in Feb.2009) are Civil Construction of Substructure up to Basement Roof Level for (B+G+15) storied Commercial Complex at Haldia by Rose Valley Real Estate & Constructions Limited, Construction of Cut-off Wall for Tapovan-Vishnugarh Hydro-electric Project Barrage and Desilting Package in Chamoli Ditrict, Uttaranchal, Civil Works (Package 1), Electrical Works, Piping and Mechanical (Package 3) and allied works for Phase II modernization at Garden Reach Ship Builders & Engineers Ltd, Kolkata.
Its clientele include organizations like DMRC, Hindustan Zinc Limited, CIDCO, Maharashtra, Department of Irrigation & CAD, Andhra Pradesh, Ministry of Defence, Department of Navy, National Highways Authority of India, Northern Railway, Tata Power Company Limited, P&O Ports, Meghalaya State Electricity Board, Indian Farmers Fertilizers Corporation, Indian Molasses Company Limited, etc.
The company has formed Joint Ventures with ITD for Kolkata airport modernization project, Rehabilitation and Upgradation of 4- lane configuration in Madhya Pradesh, Construction of 4 lane Bypass at Kota on East West Corridor in the State of Rajasthan, BC-21 Part Design and Construction of via duct and structural work of five elevated stations on Qutub Minar-Gurgoan corridor of Delhi MRTS Project, BC-24 Design and Construction of over five kilometres of underground metro construction is to be carried out with advanced tunnel boring machines and includes the Khan Market, Jawaharlal Nehru stadium, Jangpura stations and ancillary works on the Central Secretariat – Badarpur Corridor of Delhi MRTS (Value of Contract Rs 8930 Million)
In 2010 ITD Cementation India Joint Venture bagged major Jaipur Metro Project from DMRC.
The company operates in- Marine Structures, Foundations, Transportation Projects, Hydro Electric Projects/Tunnels/Dams, Industrial Civil Works and Urban Infrastructure.
About the parent company
Itallian-Thai Development Public Company Limited was founded by Dr Chaijudh Karnasuta and Giorgio Berlingieri, who had the objective to establish a Thai construction company. It was incorporated on 15 August 1958, under the civil and commercial Code of Kingdom of Thailand. Currently it has 13 subsidiaries [9 subsidiaries in Thailand, one in Myanmar, one in Indonesia, one in India and one in U.A.E.] and 21 joint ventures [15 in Thailand, two in Laos, two in Taiwan, one in Cambodia and one in Bangladesh]. ITD has 16 Associate Companies.
Subsidiary company
The company established its wholly owned subsidiary ITD Cementation Projects India Limited (ICPIL) on June 21, 2007 to carry on the business of construction, design, execution, administer and manage or control infrastructural projects.
Awards/Achievements
Appreciation Letters
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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