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ITD Cementation Wins Rs 1,082 Crore Marine Contract

ITD Cementation Limited shares hit a 52-week high of Rs.537.95 a piece today, as the company bagged a marine contract worth Rs.1,082 crore.

ITALIAN – THAI DEVELOPMENT PUBLIC COMPANY LTD. Italian–Thai Development Public Company Limited (ITD), our parent, is a truly global engineering and construction company with the vision and expertise to create innovative solutions.

ITD Cement baggs contract worth Rs.1,082 crore

TD Cementation India Limited has announced securing a significant marine contract valued at approximately Rs 1,082 crore, inclusive of taxes and duties. The contract entails the construction of the Third Berth (Jetty) and other specified additional works at the Dahej LNG terminal in Gujarat. This project represents a major milestone for the company, highlighting its expertise and capacity in handling large-scale marine infrastructure projects… This contract win underscores ITD Cementation India’s strong position in the market and its commitment to contributing to the country’s infrastructure development.

About Dahej Terminal

The Dahej terminal is the largest single-location liquified natural gas storage and regasification terminal in the country. It also supplies LNG to customers who do not have gas pipeline connectivity by transporting LNG through cryogenic trucks. The Dahej LNG terminal is a crucial facility for India’s energy sector, and the addition of the Third Berth is expected to enhance its operational capacity significantly

ITD Cementation Eyes Rs 8,000 Crore Order Inflows by FY24 End

Prasad Patwardhan, CFO of ITD Cementation, has said that the company’s current order book exceeds Rs 7,000 crore, with pending bids potentially adding more. Targeting Rs 8,000 crore in order inflows by fiscal year 2024, he anticipates substantial revenue contributions from new projects in the following fiscal. Despite a gross debt of Rs 860 crore and net debt slightly above Rs 400 crore as of December 2023, the firm aims to maintain conservative leverage and expects stable debt levels with potential working capital adjustments in the next fiscal.

Conclusion

ITD Cementation India Limited’s successful bid for the Dahej LNG terminal project, valued at Rs 1,082 crore, underscores its leadership in marine infrastructure. This contract to build the Third Berth enhances operational capacity, highlighting the company’s pivotal role in India’s energy infrastructure development.

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