🚧 ITD Cementation India Ltd – “Cementing Profits, Thai Style”

1. 🧠 At a Glance

ITD Cementation India Ltd (NSE: ITDCEM) is one of India’s fastest-growing EPC infra players with a unique foreign edge — it’s backed by the Thai giant ITD Bangkok (owns ~47%). From metro tunnels to marine ports, ITDCEM is everywhere your car will never go. Stock’s up 2x in 1 year, ROE is a juicy 22.4%, and PAT has tripled in 3 years. But at 8.4x book, is it still grounded — or running on concrete fumes?

2. 💥 Hook – India’s Infra Boom Has a Thai Accent

Infra bull runs usually feature L&T, IRCON, RVNL, NBCC…

But ITDCEM is that silent beast that dug metro tunnels while everyone was tweeting about Adani.

📈 The stock is up ~85% in 1 year, and over 10x from 2020 lows.
💸 Revenue has tripled in 3 years.
🏗️ Order book? Stronger than most NBFC balance sheets.

This isn’t a fluke. It’s compounding — with foreign engineering DNA and desi project chaos.

3. 🏗️ WTF Do They Even Do?

ITDCEM is a classic EPC player (Engineering, Procurement, Construction), but in niches that scare others:

• Urban Infra: Metros, tunnels, elevated corridors
• Marine Works: Jetties, ports, LNG terminals
• Airports, Dams, Highways, Urban Utilities

🧠 Key Differentiator? Their Thai parent brings global best practices — like not pouring cement into WhatsApp forwards.

Clients include:

• DMRC
• Chennai Metro
• Indian Oil
• Adani
• Indian Navy
• LNG players

Basically: they build the India you drive on, fly out of, and tweet angrily about when stuck in traffic.

4. 📈 Financials Overview – Profit, Margins, ROE, Growth

Let’s break it down like a demolition contractor.