View Full Version : ITD Cementation India Limited (NSE:ITDCEM) (BSE:509496)

05-15-2015, 01:44 PM
ITD Cementation India Limited (ITD Cem) is an India-based company, which is engaged in providing solutions in the field of Civil Engineering. The Company offers its services to organizations, which include Port Trusts, Defense organizations, National Highways Authority of India, Steel Authority of India Limited, Indian Space Research Organization, National Thermal Power Corporation, National Hydroelectric Power Corporation Ltd, Airports Authority of India, Indian Railways and other governmental and private institutions. It is engaged in constructing large commercial and institutional buildings, elevated highways, viaducts, railways, elevated and underground metro rail for the urban transport system, airports, water and waste water treatment plants, pumping stations, water conveying piping and utilities. Some of the Company’s products include projects the Dry Dock & Slipway, Kolkata, Wet Basin at Mazgaon Dock, Mumbai and Tallah Palta Pipeline and Micro Tunnelling at Kolkata.

Official website: www.itdcem.co.in

05-15-2015, 01:46 PM
ITD Cementation has been reporting disappointing set of numbers for the past five quarters. Although the company has a good order book, the margins have been declining and the company has been posting losses in the aforementioned period. The “Namami Gange” program is not expected to be beneficial to the company as the program will be focusing on pollution control and cleaning of the river. We had reinitiated coverage on the stock on 10 June 2014, when the stock was trading at a price of Rs277. Since then, as of date, the stock has netted a return of 150.6%. We feel that even if we discount the best case scenario panning out, the stock still trades at an expensive valuation of 1.6x its P/BV for CY2016E. Hence we recommend to book profits in the stock and we discontinue our coverage on it.

Source http://www.angelbroking.com