ITD CEMENTATION INDIA LTD. (ITDCEM) Fair Value & Analysis

Industrials · IN · Market cap ₹142B

A solid business, but screening 71% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (₹461.16). The favourable scenario is already priced in.
• Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹55.96 – ₹1,449 · fair‑value band ₹276.69 – ₹461.16 · the ₹1,264 price screens above the ₹368.93 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

ITD CEMENTATION INDIA LTD. (ITDCEM) currently trades at ₹1,264, while our model-based Fair Value estimate is ₹368.93, implying the stock looks roughly 70.8% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, ITD CEMENTATION INDIA LTD. generated revenue of ₹92.6B at a net margin of 4.4%. Revenue grew 6.8% year over year. It earns a return on equity of 22.4%. Net debt stands at ₹5.8B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹276.69 (bear case) to ₹461.16 (bull case); at ₹1,264, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 163% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at -71%, ITDCEM screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models (₹714.27) versus Dividend Discount (₹27.33). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

ITD Cementation India Limited provides construction and civil engineering contracting services in India. The company constructs maritime structures, including jetties, dolphins, service platforms, quay, berths on concrete and steel piles, solid gravity type wharf structures, ship lifts, dry docks, wet basins, and inclined berths; and offers breakwater and …

Full company description

ITD Cementation India Limited provides construction and civil engineering contracting services in India. The company constructs maritime structures, including jetties, dolphins, service platforms, quay, berths on concrete and steel piles, solid gravity type wharf structures, ship lifts, dry docks, wet basins, and inclined berths; and offers breakwater and piled approach trestles, steel piles and bored casts, undersea ground improvement, dredging and land reclamation, and coastal erosion protection and rock bund services. It also constructs highways, bridges, and flyovers; tunnels and airports; hydroelectric and irrigation projects comprising pumping stations, power houses, tunnels, intake structures, pressure shafts, and penstock pipes; mass rapid transit systems; and dams, buildings, and industrial structures. In addition, the company offers foundation and specialist engineering services comprising geotechnical investigations, piling, diaphragm walling, slope stabilization, sandwicks/band drains, vibrofloatation stone columns, drilling and grouting, rock/soil anchors repairs, colcrete, gunite/shotcrete, grouted mattress, box pushing, tube heading, microtunneling, and rehabilitation and underpinning services. Further, it engages in the civil works for refinery, petrochemical, power, steel, and fertilizer plants; design, construction, supply, installation, and commissioning of pipelines; and operation of water and wastewater treatment plants, and pumping stations. The company serves state and central government departments, ministries, local municipal bodies, and private clients. The company was formerly known as Skanska Cementation India Limited and changed its name to ITD Cementation India Limited in May 2005. ITD Cementation India Limited was founded in 1931 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

ITD CEMENTATION INDIA LTD. reported revenue of ₹91.0B in FY2024 versus ₹27.3B in FY2020, a compound +35.1%/yr. Reported net income was ₹3.7B in FY2024, compounding +120.6%/yr from FY2020.

ITDCEM screens 71% overvalued. Compare with Larsen & Toubro Limited →

Peer Group

Engineering & Construction · 834 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Engineering & Construction median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.