### **Company Profile: ITD Cementation India Limited** **Current Period: November 2025** #### **Overview** ITD Cementation India Limited is one of India’s premier engineering, procurement, and construction (EPC) contractors with over **90 years of legacy** in heavy civil infrastructure. The company specializes in technically complex, large-scale projects across maritime structures, urban infrastructure, mass rapid transit systems (MRTS), airports, highways, industrial buildings, hydro, dams, tunnels, irrigation, and specialist foundation engineering. It is a subsidiary of **Italian-Thai Development Public Company Limited (ITD)**, a leading construction and infrastructure conglomerate in Thailand. In **July 2025**, ITD Cementation was acquired by **Renew Exim DMCC**, an entity of the **Adani Group**, which is expected to provide enhanced financial strength, access to large integrated infrastructure ecosystems, and strategic support for future growth. --- ### **Recent Performance & Order Book (as of H1 FY26 – Oct 2025)** - **Secured Order Book**: ₹**20,646 crore** as of H1 FY26. - **New Orders in H1 FY26**: ₹**6,189 crore**, including **₹3,258 crore** awarded in Q2 alone. - **Order Visibility**: Strong multi-year revenue visibility, supported by a robust and diversified project pipeline. - **Pipeline Value**: Approximately **₹87,000–90,000 crore** worth of projects in the tendering or prequalification stage. --- ### **Client & Sectoral Diversification** - **Client Base (as of Oct 2025)**: - **Government**: 40% - **PSUs**: 9% - **Private Sector**: 51% *(Note: Earlier reports indicated a higher government share, reflecting strategic pivot toward private-sector projects.)* - **Key Sectors**: - **Maritime Structures**: Jetties, breakwaters, LNG terminals, container wharves. - **Urban Infrastructure**: Elevated and underground metro systems, airport terminals, transport hubs. - **Industrial & Power**: Refineries, thermal and hydro power plants, captive jetties. - **Highways & Bridges**: Six-laning of expressways, flyovers, river bridges. - **Water & Wastewater**: Sewerage systems, microtunnelling, treatment plants. - **Tunnels & Hydro**: Railway tunnels, hydroelectric power, irrigation dams. --- ### **Geographic Presence** - **Domestic Operations**: Active in **15 Indian states** and **1 Union Territory**. - **Key States**: Tamil Nadu, Uttar Pradesh, Gujarat, West Bengal, Karnataka, Maharashtra. - **International Projects**: - Active in **Sri Lanka, Bangladesh, and UAE**. - Recent project wins in **Bangladesh (Jamuna River transmission line, Greenfield jetties)** and **Abu Dhabi (LNG jetty)**. --- ### **Notable Projects (Recent & Ongoing – As of 2025)** - **Marine Infrastructure**: - **Ruwais LNG Jetty (UAE)**: US$67.4 million (₹580 crore) offshore marine contract. - **West Container Terminal, Colombo Port (Sri Lanka)**: 1,000m suspended deck wharf. - **Dahej LNG Terminal (Gujarat)**: Third berth and associated works (₹1,082 crore). - **Captured Coal Jetty, Udangudi (Tamil Nadu)**: 8 km trestle, 915 m breakwater, offshore jetty. - **Urban & Transport**: - **Chennai Underground Metro Phase-II (Line 4)**: 16 km with 8 stations (TBM-based tunnelling). - **Ganga Expressway (Uttar Pradesh)**: 157 km six-laning project, including advanced traffic management. - **Surat Metro Depot**: Landmark metro infrastructure project. - **Industrial & Energy**: - **400kV Bogura-Kaliakair Transmission Line (Bangladesh)**: Deep steel piling (2,500 mm dia, 100 m depth). - **500 MW Pumped Storage Project (Andhra Pradesh)**: Civil and hydro-mechanical works. - **Coke Oven Project (Hazira, Gujarat)**: Foundation engineering. --- ### **Innovation & Technological Capabilities** - **Custom Equipment Development**: - In-house engineered **pile manipulator** for marine projects (up to 1,400 mm dia, 72 m length, 18.5° angle). - Enhances precision, safety, and productivity in challenging marine conditions. - **Sustainable Construction Technologies**: - **Helical Piles**: Trial and pilot scale implementation for transmission towers (Gujarat). Reusable, fast to install, and eco-friendly. - **Precast Construction**: Deployed in projects like Mundra; reduces site time, improves quality. - **Trenchless Technology**: Use of microtunnelling and pipe jacking in dense urban areas. - **Advanced Execution Equipment**: - Owns and operates **Tunnel Boring Machines (TBMs)** and specialized marine equipment (e.g., crane barges, MENCK hammers). --- ### **Strategic Highlights (as of 2025)** - **Adani Group Acquisition (2025)**: - Renew Exim DMCC acquired 67.46% stake via control of ITD Thailand. - Expected benefits: Financial strength, access to large EPC tenders, integration with ports, energy, logistics, and data center ecosystems. - **Growth Strategy**: - Focus on **fewer, larger projects (₹1,000–2,000+ crore)** to improve execution efficiency. - Expansion into **green energy** and **hydrogen infrastructure**. - Bid pipeline includes ₹**15,000–17,000 crore** in upcoming opportunities. - **Financial Prudence**: - Conservative balance sheet with disciplined working capital management. - Price variation clauses in contracts to mitigate input cost volatility. - **International Expansion**: - Targeting projects in Bangladesh, Sri Lanka, Maldives, Africa via Exim Bank-funded schemes. - Experience in Myanmar, Bangladesh, and Sri Lanka de-risks global execution. --- ### **Challenges & Risk Management** - **Challenges**: - Input cost volatility (steel, cement). - Skilled labor shortages. - Competition in bidding for large projects. - Execution in complex environments (coastal, underground, urban). - **Mitigation Strategies**: - Price escalation clauses, long-term vendor agreements. - In-house R&D and technology adoption. - Strong vendor and client relationships.