Cemindia Q4 FY26: Margin-led finish as order inflows stay strong

FY26 revenue from operations was INR10,061 crore, EBITDA was INR1,199 crore (11.9% margin), and PAT was INR598 crore (5.9% margin).

Q4 FY26 revenue was INR2,973 crore, EBITDA was INR450 crore (15.1% margin), and PAT was INR242 crore (8.1% margin).

Order book was INR24,545 crore. Key shares were Maritime Structures 33.3%, Urban Infra/MRTS/Airports 23.2%, Industrial Buildings 15.7%, Highways/Bridges 13.1%, and Data Center 7.1%.

Management guided FY27 revenue to be at least 25% higher than FY26, targeted FY27 order inflow of about INR25,000 crore, and guided FY27 capex at around INR350 to INR400 crore.

Management said Q4 margin benefited from claim realizations and release of provisions on completed metro jobs, and indicated this is not expected to be a regular phenomenon.

FY26 net debt was INR430 crore, and net debt to EBITDA was 0.36x. Cash and cash equivalents were INR475 crore, and net worth was INR2,400 crore.

The presentation states CARE and ICRA upgraded the company’s rating to A+ (Stable) in March 2026.