ITD Cementation India Limited

Dept. of Corporate Services – Corporate Relationship, National Stock Exchange of India

BSE Limited, Limited,
Phiroze Jeejeebhoy Towers, Dalal Street, Listing Department,
Mumbai 400 001 Exchange Plaza, C-1, Block G,
(Fax # 2272 3121 / 2037 / 2039 / 2041 / 2061 / 3719) Bandra-Kurla Complex, Bandra
(Email: [email protected]) (East),
Mumbai 400 051

Date Our Reference No. Our Contact Direct Line

07th November, 2024 SEC/11/2024 RAHUL NEOGI 91 22 67680814
[email protected]
Dear Sir,
Re: Outcome of Board Meeting

Scrip Code No: 509496 and NSE: ITD CEM

Pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“Listing Regulations”), this is to inform you that the Board of Directors, at its Meeting
held on 7th November, 2024, inter-alia, considered and approved Unaudited Financial Results for the quarter
and half year ended 30th September, 2024.

We send herewith, for your record, a copy of each of the following Standalone and Consolidated Statements:
a) Unaudited Financial Results for the quarter and half year ended 30th September, 2024;
b) Statement of Assets & Liabilities as at 30th September, 2024;
c) Statement of Cash flow for the half year ended 30th September, 2024; and
d) Limited Review Report of the Auditors in respect of the abovementioned Unaudited Financial results;
e) Press Release on Unaudited Financial Results for the quarter and half year ended 30 th September, 2024.

We also confirm having made the necessary arrangements to publish the Extract of Unaudited Consolidated
Financial Results along with Standalone data pursuant to Regulation 47 of the Listing Regulations, 2015.

The Meeting of the Board of Directors commenced at 4.30 p.m. and concluded at 5.45 p.m.

Thanking you,
Yours faithfully,
For ITD Cementation India Limited
Digitally signed by Rahul Neogi
DN: c=IN, o=Personal, title=6712,

Rahul Neogi
pseudonym=AA1033A64D9F053BE262E00B3AA08E8D,
2.5.4.20=d6d0df5445796b87b8d90ab7a54ecb6fa930dd593fdf1
2cc80090f398780228b, postalCode=400101, st=Maharashtra,
serialNumber=8D2A9ED0DFE2EEF0B6F68C1B48856DD103F7E
3A97C4B25E6D1B16D812D7260A5, cn=Rahul Neogi
Date: 2024.11.07 18:00:53 +05'30'

(RAHUL NEOGI)
COMPANY SECRETARY

ITD Cementation India Limited

Registered & Corporate Office : 9th Floor, Prima Bay,
Tower - B, Gate No. 5, Saki Vihar Road, Powai, Mumbai - 400 072.
Tel.: 91-22-66931600 Fax : 91-22-66931628 www.itdcem.co.in
Corporate Identity Number : L61000M H1978PLC020435
 C a a &C
Chartered Accountants

Independent Auditor's Review Report on Standalone unaudited quarterly and half yearly financial
results of the Company Pursuant to the Regulation 33 of the SED) (Listing Obligations and Disclosure
Requirements) Regulations. 2015.

TO THE BOARD OF DIRECTORS OF

ITO CEMENTATION INDIA LIMITED

1. We have reviewed the accompanying statement of standalone unaudited financial results of ITO
Cementation India Limited for the quarter and half year ended 30 th September. 2024 (hereinafter
referred to as "Statement"), being submitted by the Company pursuant to the requirement of Regulation
33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time
to time.

2. This Statement, which is the responsibility of the Company's Management and approved by the Company's
Board of Directors, has been pr pared in accordance with the recognition and measurement principles laid
down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under
Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other
accounting principles generally accepted in India. Our responsibility is to express a conclusion on the
Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE)
2410 "Review ofl nterim Financiallnfonnation Performed by the Independent Auditor of the Entity", issued
by the Institute of Chartered Accountants of India. This standard requires that we plan and perform tbe
review to obtain moderate assurance as to whether the financial statements are (Tee of material
misstatement. A revie is limited primarily to inquiries of company personnel and analytical procedures
app)jed to financial data and thus provide less assurance than an audit. We have not perfonned an audit
and accordingly, we do not express an audit opinion.

4. Based on our review conducted as above. nothing has come to our attention that causes us to believe that
the accompanying statement of unaudited standalone financial results. prepared in accordance with
recognition and measurement principles laid down in the aforesaid Indian Accounting Standard ("Ind AS")
and other accounting principles generally accepted in India, has not disclosed the information required to
be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any
material misstatement.

/NS00028

Date: 7 th November, 2024 P er

Place: Mumbai Membership No. 076650 C'-J -:I {S-
UDlN: C 131 t, I 7

T R Chadha. Co UP, " IImlled liability pa~shlp wlt/'l UP 1<1 ntifkatlon No. UF-3926 WWft,trcbadha.cam
Mumba Branch 0 Kl!!: E 2001-02, LOlUS Cotllof;lle Pall<, Off Western EJcl)<US Highway. Ram Maftlllt Slit
n Road. Goregalln East, "'umbal 400063.
Ph' .,.91 2249669000 E /Mil' mumball!!llTJ1lildha l:Q!D
Corporate! Ilegd. OffIce: 8-30. Connaughll'lace. Kuthlala 5uildinv. New Deihl - 110001. Phone: 431:59900. Fax: 43259930. E-/MII: delhJ@trd1adha com
Other OffiCes: I Gurullram I aida I Ahmedabad I Hvderllbild I Bengilluru I Chennill I Pune I Tlrupal' I vadodal1l I
 ITO c.ment~lion Indj;j limiled
Reed. Officr. 9lh Floor. Prim~
Bav. To_· B. Golte No. S. ~ki .....Ih~r Road. Powoti. M.."bai-400012.

..
ON No.l61000MH1978PlCD2043S
Tel.: +91·22-66931600, Fn: +91·n.fl693 1627/28, E·m~lI: in'o'lL'st()fS.rel~tlon(llildcem.co.in,Web5ite: _.itdcem.co.in
STATEMENT OF STAND.....ONE UNAUDITED FINANO..... RESUlTS fOR THE QUARTER AND SUI: MONTHS ENDED 30 SEPTEMBER 2024
"In lakhs unltss s ~
CorrMflOndinc
Prectdina
...
H•.
P~tticul~~
,.....
Qu~rtll!r
QUItter
ended
qu~rter ended
In the previous
V<"
Sill mont,,"
,.dod , .....
s;. months Prtvlo~ ye~r
ended

30.09.2024 30.06.2024 30.09.2023 30.09.2024 30.09.2023 31.0U024

, Income
Unaudlled Un~udlted Unaudiled Unaudited Unaudited Audited

al Revenue from operations 1,89,801.09 2,37,648.75 1,58,336.31 4.27,449.84 3.38,B2.54 7,54.211.45

b) Other income 2,202.18 1,495.18 538.35 3.697.36 1,443.94 4.637.43
TOllllncome la+bl
2 upenses
1 92 003.27 2 39 143.93 ". 74.66 431147.20 339 n6.48 7 sa 848.88

~l Cost of comtructlon malerials comumed 64,060.25 87,944.66 62,451.48 1,52,004.91 1,25,281.94 2,91,009.45
bl 5ubcontr-KIlnll eJlpenses 51,383.16 73,573.74 32,123.57 1,2",956.90 ",566.86 1.92,312.36
cl Emplovee benefits expense 16,758.63 16.910.98 15,359.28 33,669.61 29,392.96 60,795.09
d) Finana costs 5,705.18 5,281.51 5,035.57 10.986.69 10,063.31 21,S40.55
el Oepreciiltion and amortisation eJlPl!flSl!' 4,608..19 4,859,47 5,.170.20 9,467.66 9,52833 20,399.96
fl Other eo:penses
,39656.79 31063.14 321l22.24 76720.5.3 66 SO:U5 135 129.44
Toul u:pl!nsts l~+b+c+d~fl 2112.20 225634.10 1 52 16.2.34
'"23,340.90 •
30 5336.85 7 21 186.85

••Profit beforl! I!lta!pllon~litem and II_ (1·2)

hceptlonaolltem
9.831.D1 13,509.83
.
6,112.32
. .
14,439.63
.
37,662.03
.

,
5 Profit befDn! tn ().41
Tu upense/luedlt)
(~) Current u~
9,.831.01 13,509.83 6,712.32 23,340.90 1.f,439.63 37,662.03

(bl Deferred ta~

3i~14.92
388.14
3i~53.42
262.53
2i~70.95
921.27
6i~~·34
6 0.67
(~,579.16
1 722.92
~~,314.30
2026.04
Totalta~ e_pen§e la+b) 2,626,78 3,490.89 1,349.68 6,117.67 3,856.24 10,288.26
7 Proflt for the quarterl year 15·6) 1204.29 10018.94 5362.64 17 223.23 10583.39 21373.77

• ., Other comprehensive Income/(Ioss)

(I) Item~ that wiM not bt reclassified to pront or loss 119.67 (815.331 1778.91) (755.66) (690.71) (686.98)

(ii) Ta_ effect on above (3O..1J) 220.30 196.04 190.J9 173.84 172.90

b) IiI Items that wi' be reclassified to profit or lou 1119.21) ".... 31.94 15.59 304.18 48.n

Ii} Ta~ effect on above . . . . .

Other ton'IjlO"eh.enslYe Income/(loss1 for the: qUlner/ year, net of (29.65) 1520.231 1550.931 15.f9.881 (482.09) (465.31)

,.
9

H
Tot~l compn!henstve Income for the qUlner/
P,Id·up equity wre tapilllllF.Ke V~lue: 'It 1 per
Olher equity le~dudjns revaluation reserve)
ye~r, net of tn 7.174.....
1,717.88
9,498.71
1,717.88
4,.811.71
1.117.88
16.673.35
1,717.88
10,101.30
1,711.88
26,908.46
1,717.88
1,47,655.35
12 Earnings per ~hare (Face Value: 'It 1 per ~hare)

al Bask 1'11:) 4.19 5.83 3.12 10.03 6.16 15,93

b} Diluted ('It) 4.19 5.83 3.12 10.03 6.16 15.93
°not annualised
See ~ccompanvln, notes to the stand~lone uruludlted flnanti;11
Notes:
The Slandalone unaudiled Ilnilndal results h_ been prep;lred in iIUOtdiltlCe with the Indian Aaountlns Standards l~nd A.5') as prescribed under Sealon 133 of the
" Con'Ipanies Act, 2013 l'the Act') read with Companies !InDian Aa:ountlnl 5Undardsl Rules. ~s ~mendtd from time 10 time. Thr a~ st,ndalone unaudited
financial resulu haY! been r~ ~nd recommended to the Board of Directors by the Audit Committee and substqUl!ntty ~pproved by the Board of Directors of
the CompanV ~I their respea.M' meellnc!i held on 7 Novembe1 2024. The same hive ~Iso been subjected to Umited Review by the 5talUlory Auditors.

2) The COmpany is prinapally engaged In a silllie business segment vll. ConsttUCllon and h.as operations mainly in lndi~.

Thr fisures lor the previous periods have been resrouped/ reillTanged wherever considered nteessarv to conform to wrrent period's da~~ific.ation.
"
lfi;~iOn/~
t6J6'na&~ For ~nd on behalf of the 8o~rd of Directors

~~~
~ B
o ~

~ M .,BAI .. ~ MUMBAI C
o 'J
Place: Mumbal
Oale: 7 November 2024 ~ ~ l')'~O !r~
Mana,;n, Oirector
OIN.08291114 ~.~
 (~in Lakhs)
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
Particulars As at As at
30.09.2024 31.03.2024
Unaudited Audited

ASSETS
Non-current assets
Property, plant and equipment 1,00,163.93 1,03,211.76
Right-of-use assets 1,948.79 2,470.94
Capital work-in-progress 500.80 1,000.58
Intangible assets 50.30
Investments in subsidiary and unincorporated entities 12,179.27 13,635.73
Financial assets
- Other financial assets 17,879.57 5,439.19
Deferred tax assets (net) 3,798.67 2,957.81
Income tax assets (net) 7,829.05 10,498.58
Other non-current assets 6,760.23 7,052.98
Total non-current assets 1,51,060.31 1,46,317.87

Current Assets
Inventories 65,804.78 68,304.54
Financial assets
- Investments .
- Trade receivables 1,20,419.29 1,17,740.56
- Cash and cash equivalents 24,837.94 57,785.92
- Bank balances other than cash and cash equivalents 14,390.57 24,612.03
- Loans -
- Other financial assets 8,803.25 7,388.87
Unbilled revenue (Contract assets) 1,96,065.07 1,40,450.14
Other current assets 25,049.75 19,379.65
Total current assets 4,55.370.65 4,35,661.71

TOTAL ASSETS 6,06,430.96 5,81,979.58

EQUITY AND LIABILITIES

Equity
Equity share capital 1,717.88 1,717.88
Other equity 1,61,408.30 1,47,655.35
Total equity 1,63,126.18 1,49,373.23

Liabilities
Non-current liabilities
Financial liabilities
- Borrowings 12,740.62 13,317.90
- Lease liabilities 1,420.51 1,853.77
Provisions 6.556.76 5,477.07
Total non-current liabilities 20.717.89 20,648.74

Current liabilities
Financial liabilities
- Borrowings 82,270.21 72,885.11
- Lease liabilities 811.60 854.91
- Trade paya bles
- Total outstanding dues of micro enterprises and small enterprises 14,299.70 15.165.69
• Total outstanding dues creditors other than of micro enterprises and small enterprises 1,32,674.57 1,42,214.57
- Other financial liabilities 10,474.43 11,363.39
Other current liabilities 1,80,158.99 1,67,803.67
Provisions 1,897.39 1,670.27
Total current liabilities 4,22,586.89 4,11,957.61

TOTAL EQUITY AND L1ABILmES 6.06,430.96 5,81,979.58

 (t' in liIkhsl
STATEMENT OF UNAUDITED STANDALONE CASH FLOW
Six months ended
Particulars 30.09.2024 30.09.2023
Unaudited Unaudited
A. CASH FLOW FROM OPERATING ACllVITIES
e profit before tax 23,340.90 14,439.63
Adjustmerrt:s for
Depredation and amortisation expense 9,467.66 9,52833
FinafICf colli 10,986.69 10,06331
Intere5\: inoome (1,230.101 (954.191
Impa rment allowance on finandall non-finandal assets 1,597.73 3.453.48
Share of loss!(profit) from un ncorpora ed entities (netl (415.561 887.91
Profit on disposal of property, plant and equipment (netl (1,672.91) (255.051
Unrealised foreign exchange gain (net) (20.27) (18.86)
Excess provision no longer required written bad (234.24) (35.26)
Operating profit before working capital changes 41,819.90 37,109.30

Adjustment for changes In working capital

Increase in Inventories 2,499.76 (6,781.15)
(Increase)/ Decrease In trade receivables (3,124.85) 13,799.56
Increase in financial! other assets and unbilled revenue (contract assets) (61,645.20) (51,697.18)
Increase in trade payables (10,151.501 7,479.47
Increase In financial/other liabilities and provisions 11,279.37 27,238.82
Cash (used in)/ generated from operations (19,322.52) 27,148.82
Dired taxes paid tne l (4,075.95) (5,676.39)
Net cash (used inl/ generated from operating activities (23.398.41) 21,472.43

8. CASH FLOW FROM INVESTTNG ACllVlTlES

Purchase of property, plan and equlpm nt (induding intangible assets, capital wo -in-progress,
capital advanceslpayablesl (8,139.82) (23,870.23)
Proceeds from dl5posal 0 property, plant and equipmen 4,663.00 456.28
et investments in ban depoSIts (2,139.02) (1.748.06)
e proceeds from un ncorporated enr ty L576.16 455.n
Inve5\:menr in unincorporated entllity - .
Interest re.ceived 680.97 485.55
Net cash used in investing activitIes (3,358.71) (24,220.74)

C. CASH FLOW FROM FINANONG ACTIVITIES

Proceeds from non-current borrowings 4,029.33 5,686.09
Repayment of non·current borrowings (9,640.82) (6,507.21)
Proceeds froml (repayment of) shott term borrowings (ne I 14,419.31 3,157.83
Repayment of lease obligation (575.07) (1,013.38)
Finance costs paid (11,506.101 (9,517.35)
Dividend paid (2,917.45) (1,283.77)
Net cash used in financing activities (6,190.80) (9,477.79)

Net decrease in cash and cash equivalents (A + B + C) (32,947.98) (12,226.10)

Cash and cash equivalents at the beginning of period 57,785.92 38,454.92
Cash and cash equivalents at the end of period 24,837.94 26,228.82
 C ad a Co
Chartered Accountants

Independent Auditor's Review Report on consoUdated unaudited quarterly and half yearly
financial results of the Company Pursuant to the Regulation 33 of the SEDI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.

TO THE BOARD OF DIRECTORS OF

lTD CEMENTATION INDIA UMITED

1. We have reviewed the accompanying Statement of Consolidated unaudited financial Results of lTD
Cementation India Limited ("the Parent") and it subsidiaries (the Parent and its subsidiaries together
referred to as "the Group") and its share of the net profit/ (loss) after tax and total comprehensive profit
/ (loss) of its joint ventures for the quarter and half year ended 30 th September, 2024 ("the Statement"),
being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. This Statement, which is th responsibiJity of the Parent's Management and approved by the Parent's
Board of Directors, has been prepared in accordance with the recognition and measurement principles
laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"). prescribed
under Section 133 of the Companies Act, 2013. and other accounting principles generally accepted in
India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the
Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial
information consists of making inquiries, primarily of persons responsible for Financial and accounting
matters, and applying analytical and other review procedures. A review is substantially less in scope
than an audit conducted in accordance with Standards on Auditing and consequently does no enable us
to obtain assurance that we would become aware of all signiftcantmatters that might be identified in an
audit. Accordingly, we do not express an audit opinion,

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33
(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the
extent applicable.

4. The Statement includes the results of the folJowing entities:

SrNo. Name of Entity Relationship

1 ITO Cementation Projects India Limited Subsidiary

2 lTD Cem - Maytas Consortium Unincorporated entity (treated as subsidiary)
3 ITD Ceml ndia Joint Venture Unincorporated entity (treated as subsidiary)

4 lTD -ITO Cem Joint Venture (Consortium Unincorporated entity (treated as joint
oflTO - lTD Cementation) venture}
5 lTD - lTD Cern loint Venture Unincorporated entity ( reated as joint
venture)
6 CEC - ITO Cem- TPL Joint Venture Unincorporated entity (treated as joint
venture)
7 ITO Cern - BBI Joint Venture Unincorporated entity (treated as joint
venture)
8 ITO Cementatiollindia Limited - Transrail
Lighting Limited Joint Venture
Unincorporated entity (treated as joint
venture)
-
£;, ',I'I,} c,

~
lI.~f
T R Chadha a Co llP, A limited Uability partnership with lLP Identification No. AAF-3926 www,trchidhl.cpm
II . ~Al ~ I}
Mumbai 8",nch Off,ce: E 2001-02. Lotus Corporate Park, Off Western Express H,ghway, Ram Mandlr Station Road, Goregaon East. Mumbal 4000
Ph: 912249669000 Email: mumbal@trchadha,com ~~
,rI\):;
Corporatel Regd. Office: 11-30. Connaught Place, Kuth ala llulkli"9. New oelhl - lJ0001. Phone: 43259900. Fax: 43259930. E-mail: [email protected]
Ot/ler Offices' I Gurug m I Nolda I Ahmedabad I Ilyde.rabad I Bengaluru I Chenna, (Pune I nrupall ( Vadodara I
T R Chadha & Co LLP
Chartered Accountants 0'\
IN 0 I A

S. Based on our review conducted and procedures performed as stated in paragraph 3 above and based
on the consideration of the review reports of the other auditors referred to in paragraph 6 below.
nothing has come to our attention that causes us to believe that the accompanying Statement. prepared
in accordance with the recognition and measurement principles laid down in the aforesaid Indian
Accounting Standard and other accounting principles generally accepted in India, has not disclosed the
information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. as amended, including the manner in which it is to be
disclosed, or that it contains any material misstatement.

6. We did not review the interim financial statements (before eliminating inter-company transactions) and
other financial information of one subsidiary. whose unaudited interim financial results and other
financial information renects total assets ofRs. 1.89lakhs as on 30 th September 2024 and total revenues
of Rs. 0.02 Lakhs and Rs. 0.05 lakhs, total net profit / (loss) after tax of Rs. (0.12) lakhs and Rs. (0.21)
lakhs and total comprehensive profit / (loss) of Rs. (0.12) lakhs and Rs. (0.21) lakhs for the quarter and
halfyear ended 30 lh September. 2024 respectively and net cash inflow of Rs. 0.33lakhs for the half year
ended 30th September 2024 as considered in the consolidated unaudited financial results. These
financial statements have been reviewed by other auditor whose review report has been furnished to
us by the management Further, Group's share in profit ofRs Nil for the quarter and half year ended 30 th
September, 2024 in respect of two joint venture is also considered in the consolidated financial results
based on financial statement certified by management.

Our conclusion in so faras it relates to theamountsand disclosures included in respect of said subsidiary
and joint ventures, is based solely on the review reports of the other auditors and management
certification and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matters.

For T R Chadha & Co LLP

Chartered Accountants
Firm Registrati n No. 006711N/NS0002B

Pr·~~
Date: 7 lb November, 2024 Pa r
Place: Mumbai Membership No. 076650 :2: o1-'i
UDlN:.2'-l b"66 ,n p.l<fC, C2-
 ITO cemell1"ion Ind~ Limited
Floor. Prima Bav. [email protected]. SikiVlhar~. Powal. Mumbai-4OD072.
ReII'll. Office; 9th
(IN No. l61000MH 1978Pt.C020435
Tel.: .91·22-6693 1600. FaJC .91·22-6693 1627/28, E·rnalt kwWorue!atiotl.itdcern.co..... Website; _.itdcem.co.1n
STATEMENT OF COHSOUOATEO UNAUOITtO FINANCIAl RESULTS FOR TIlE QUARTER AND SIX MONTlfS ENO£O JO SEPTEMBER 202'

........_"" ...-.......
('I: in Lakhs unlallpecifiedl
Correspondi..
Qu.ner~ed
PIKed... quanet"~ed
......
Previous year

"..
~. Quarttr ended In tht prtvioul
P.rticulars
No.
30.09.202' 30.06.2024 30.09.2023 lO.D9.2024 3O.D9.2023 31.03.2024
Un.udlted Unaudited Unaudited Unaudited Unaudited Audited
1 Incomt
a) Re~enue from oper,tlol'l$ 1,99,087.12 2,38,148.97 1,61.041.99 4,37,236.09 3,44,299.05 7,71,787.28
b) Other Income 2.247.30 1,593.68 576.92 3,840.98 1,43.4.23 4,802.60
Totallneome lub) 2,01,334042 1.39,7'2.65 1.61,618.91 4,41.077.07 3,45,733.28 7,76,S89.88
1 Expenses
al COSt of comtructiorl materials comumed 64,049.86 87,949.73 62,86l.55 1,s1,999.59 1,25,974.12 1.91,942.74
bl Subcontraalnl expel'lSeS 60,310.75 74,039.36 "W.so 1,34,350.11 92,90tA5 2,09.170.31
cI Employee benefItS t1fPt"W' 16,888.19 17,IOLOI 15,639..5'1 33.989.20 30,026.67 61,928.75
dl Finanet COSlli 5,721-29 5,287.s2 5,167.37 11,008.81 10,261.92 21,798.62
tl Depreciation and amoniwtlon t1fp@Mt 4.684.76 .,943.10 5,27• .58 9.627.86 9,7'2.a. zo.788.30

, """"'-
39,672.68 36.916.58 31.435.01 76.589.26 63.'24.82 1.34,239.30
TObI txpemtI 14.bo-c~f} 4,17$64.13 3.l2.3U_82 7.39,168.02
Pnlfrtlilossl befOfe lhate at profit of joirIt wnturu,
.1Id tull-21
""Ctpl:~1 it""" "" 'S'
10,006.119
1.26.237.10

13.sos.35
1.-55,666..55

5,952.36 23,s12.24 13,'01.'6 36,721.86

• SNrt of profit of lOinl ~t<1tU'fi lnoetl '.18 '.90 llS031 10.32 1,285.04 1,Sll1.50

,,
S Proflt befOff! exceptlon.lltem and tn (3+,)
bceptional item
10,OU.27
·
13,S09.29 6,806.69 23,522.56
.
1',686.50
·
38,304.40
.
Profit before tax (5·6) 10,OU.27 13,509.29 6,806.69 13,52 .56 1',686.50 38,304AO
8 T.xexpense
(~) Current tilX 3,181.90 3.753.'2 2.358.21 6,935.32 5.806.09 12,911.96
Ib) Deferred tax 1388.14) 1262.53) (921.26) (650.67) \1,722.92) 12,026.04)

, Totifl lu expense (a+-bl

ProfIt fot"the QU.rt""'/ ye~r 17-1j
2,793.76
7,219.51
3,'90.89
10,018.40
1,'36.95
5,369.7'
1>,284.65
17,1l1.n
',083.17
10,603.33
10,1S5.92
27,418.48
0tMt comprehenslw! lncOflll!!/flos~1
" ~) (il items !hit will not be red~ssified to profil Of kmi 119.61
f30.l1)
(875.33) 1778.91) 17SU61 1690.71) 1686.98)
(iii Tax effl!!Cl on ilbove
bjlijltems that will be redinif~ to profit Of loss
liil Tax rifl!!Cl on ilbove
1119.211
·
120.10
"'.80
.
""'"
'""
.
L90.19
15S'
.
173.84
,.U'
·
172-90
oan
-
Other comprehensM! income/lkmi) for' the qu.rter/ year, net of tu 129.65) (no.131 (550.931 I54U81 (4U-09) 1·65.UI
U TObI comprehenlhoe lneomeforthe qll~net"/ year, net of tax (9+10) 7,ll9.86 9,498.17 ',818.11 16,6&8.03 10.12U' 26.953.17
Net Profit IOf the qu.rttr/ ye~r .ttribllt~bleto;
- Owners 01 the PMMt 7,204.17 10,018.85 5,362.49 17,223.02 10,583.21 27,373.34
• Non-controillnginterut 15.34 (0.45) 7.25 l'.S9 20.12 '5.14
Otller comp,ehenttve lncome/(Ioss) lor the Quarterl yur .ttribllt~bleto;
- Owners olthe p~rent 129.65) (520.231 (550.93) (549.88) (4S2.091 (465.311
- Non-controlling IntereSt · · -
Total comprthenslve Inc_lor the quanerl year .ltributableto:
- Owners 01 the ~rfnt 7,17'.52 9,498.62 4,81156 16,673.14 10,101.12 26,908.03
- NO!'-controlllnclnterest 15.10 10.451 m 14.89 20.12 45.14
12 P~Id·upequi1:y Ihare capiiallhceVillue; 'I. 1 per tNr,) 1,717.88 1,117.88 1,117.88 1,717.88 1,717.88 1,117.88

.." Other equity lodudinl rev~u~tion tl'WM!)

E"nings per IhiJre (FiICI!! Villue; 'I. 1 per share)
~I ~sIc ('I.J '.19 5."
S.83
W 10.03 ... 1,47,652.29

15.93
bl Olluted ('I.) '.19 3.12 10.03 81. 15.93
·not'l'lI'ILlal~
see: a(com~m. notes to the coosolldated UofIiJlMlited flniJncial

Notl!!li to the Consolidated Unaudited Fmancilll Results;

11 The con~lldated unaudited finilncial relults hil~e bHn prepared in aerordante with the Indian Accounllng Standards l'lnd AS') IS prescribed under Sotellon 133 of the
Compank!! Act. 20ll ('the Act') rud with Comp~nles (Indian Accounting Standards) Rules, It ~mended from lime to time. The loo~e consolid~ted unaudited financial
resultl hive betn reviewed and recommended to the Boa,d of Directors bV the Audit Committee and subsequently appro~ed by the 80ard of Directors of lhe Holdlns
Com piny at their respective meetinss held on 7 NO~ember 2024. ITO Cemenlation India limited (the 'Holdins Company'l ~nd Its subsidiaries are tosether referred to as
'lhe Group' in the followins nOtes. The same ha~e alsO been subjected to limited Re~lew by the 5tatulory Auditors.

The Group ili principally enpsed In I sinS"" bUSil'It5S Stsment'Jil Comtruclion ~nd has operatlolll mainly In Ind'a.
" The f..uret for the previous periods ha~ been rellouped/ rfarranged whtf~ considered necen~ry loconlorm loeurrenl period'i Clal~ion~
"

PIKe; Mumbai
Date; 7 NOVl!mber 2024
~ .• ~

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 (f In Lakhsl
CONSOLIDATED STATEMENT OF ASSET5 AND UABlunES
Particulars As at As at
30.09.2024 31.03.2024
Unaudited Audited
ASSET5
NOn-QIrTent assets
Property, plant and equlpmen 1.01,954.36 1.05,579. 2
Rignt-<l '-USe ilS5ets 1.948.79 2.470.54
Capital work·in-progre$ 500.80 1,000.58
Inungible a5S.e1.5 . 50.30
Investments in join ventures 481.52 483.87
FInancial assets
· 0 her nandal aSiets 7.87957 5,439.19
Deferred tax assets (netl 3.798.67 2.957.81
Income tax assets {ne I 8,770.82 11,385.50
Other non·current amm 6.832.92 7,125.66
Total non'CUrTent assets 1,42,167.45 1.36,493.27
Current assets
Inventories 65,885.14 68,427,22
Financial assets
• Investments . -
· Trade receivables 1,23,970.91 1,21,142.86
- Cash and cash equivalents 26,296.02 60,877.48
• Ba nk balances other than cash and cash equivalents 18,510.41 28,694.29
- Other financial assets 7,942.46 6,418.92
Unbllled revenue (Contract assets) 1,98,707.35 1,44,107.46
Other OJrrent assets 31,083.81 25,564.25
Total current assets 4,n,396.10 4,55,232.48

TOTAL ASSETS 6,14,563.55 5,91,725.75

EQUITY AND llABlunE5

Equity
Equity share capital 1,717.88 1.717.88
Other equity 1,61.405.05 1.47,652.29
Total equity attributable to equity holden of the parent 1,63,122..93 1,.49,370.17
Non-comrolnng interest 458.26 443.37
Total equity 1.63,581.19 1.49,813.54

Uabilitles
Non-wrrent liabilities
Rnanclalliabilities
- Borrowings 12,740.62 13,317.90
• Lease liabilities 1,420.51 1,853.77
Provisions 6,556.76 5,477.07
Total non-current liabilities 20.717.89 20,648.74
Current Uabllities
Flnanciall1abilities
• Borrowing:; 82.270.11 72.885.11
- Lease Iiabiltties 811.60 854.91
• Trade pavables
- Total outs anding dues of mICro emerprises and small enterpnses 14,309.74 15.279.80
• Total outstandmg dues of creditors 0 her than micro e.nterprlses ilnd small enterprises 1,39,.235.45 1,49.404.48
• Other financial abilities 7,769.15 9.207.99
Other OJrTent nabililles L83.004.81 1,70.882.75
ProYlslons L897.39 1.670.27
Current lax Iia 'Iilies (ne I 966.U l.O78.16
Total current liilbiJities 4,30,264.47 4,l1,263.47

TOTAL EQUITY AND llABiunES 6.14,563.55 5,91.725.75

 (~in lakhs)
STATEMENT OF UNAUDITED CONSOLIDATED CASH FLOW
Six months ended
Particulars 30.09.2024 30.09.2023
Unaudited Unaudited
A. CASH FLOW FROM OPERATING ACTIVITIES
Net profit before tax 23,522.56 14,686.50
Adjustments for
Depreciation and amortisation expense 9,627.86 9,742.84
Finance costs 11,008.81 10,261.92
Interest income (1,359.69) (1,043.61)
Impairment allowance on financial! non-financial assets 1,439.25 3,453.48
Share of profit from unincorporated entities (net) (10.32) (1,285.04)
Profit on disposal of property, plant and equipment (net) (1,569.57) (156.44)
Un realised foreign exchange gain (net) (20.27) (18.86)
Gain on lease modification -
EJ<cess provision no longer required written back (234.24) (35.26)
Operating profit before working capital changes 42,404.39 35,605.53

Adjustment for changes in working capital

Increase in Inventories 2,542.08 (6,113.19)
(Increase)! Decrease in trade receivables (3,115.66) 14,251.96
Increase in financial! other assets and unbilled revenue (contract assets) [60,590.83) (47,965.94)
Increase in trade payables [10,884.57) 5,897.83
Increase in financial I other liabilities and provisions 10,209.52 23,268.72
Cash (used in)! generated from operations (19,435.07) 24,944.91
Direct taxes paid (net) (4,409.83) (5,865.81)
Net cash (used in) !generated from operating activities (23,844.90) 19,079.10

B, CA5H FLOW FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment (including intangible assets, capital work-in-progress, capital
advances!payables) (8,139.82) (23,870.23)
Proceeds from disposal of property, plant and equipment 4,970.96 848.91
Net investments In bank deposits (2,176.60) (2,548.31)
Net proceeds from unincorporated entity
Interest received 814.92 584.48
Net cash used in investing activities (4,530.54) (24,985.15)

C. CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from non-current borrOWings 4,029.33 5,686.09
Repayment of non-current borrowings (9,640.82) (6,507.21)
Proceeds from! (repayment of) short term borrowings (net) 14,419.31 3,157.83
Repayment of lease obligation (575.07) (1,013.38)
Finance costs paid (11,521.32) (9,713.97)
Dfvidend paid (2,917.45) (1,283.77)
Net cash used in financing activities (6,206.02) (9,674.41)

Net decrease in cash and cash equivalents IA + 8 + C) (34,581.46) (15,580.46)

Cash and cash equ!va·lents at the beginning of period 60,877.48 44,631.13
Cash and cash equivalents at the end of period 26,296.02 29,050.67
 ITD Cementation India Limited

MEDIA RELEASE

CONSOLIDATED FINANCIAL PERFORMANCE FOR THE PERIOD ENDED SEPTEMBER 30, 2024
Q2 FY25 TOTAL OPERATING INCOME OF RS. 1,991 CRORE – AN INCREASE OF 24% YOY

Q2 FY25 EBITDA OF RS. 204 CRORE – AN INCREASE OF 18% YOY

Q2 FY25 EBITDA MARGIN AT 10.3%

Q2 FY25 PAT OF RS. 72 CRORE – AN INCREASE OF 34% YOY

H1 FY25 TOTAL OPERATING INCOME OF RS. 4,372 CRORE – AN INCREASE OF 27% YOY

H1 FY25 EBITDA OF RS. 442 CRORE – AN INCREASE OF 27% YOY

H1 FY25 EBITDA MARGIN AT 10.1%

H1 FY25 PAT OF RS. 172 CRORE – AN INCREASE OF 63% YOY

CONSOLIDATED ORDERBOOK OF RS. 17,986 CRORE AS AT SEPTEMBER 30, 2024

- SECURED ORDERS WORTH ~RS. 3,850 CRORE IN FY25 TILL DATE

CONSERVATIVELY FINANCED WITH NET DEBT: EQUITY OF 0.42X

About ITD Cementation India Limited

ITD Cementation India Limited is one of the leading Engineering and Construction Companies undertaking Heavy
Civil, Infrastructure and EPC business and operating in India for nine decades with an established presence and
expertise in Maritime Structures, Mass Rapid Transit Systems, Airports, Hydro-Electric Power, Tunnels, Dams &
Irrigation, Highways, Bridges & Flyovers, Industrial Structures and Buildings, Foundation & Specialist
Engineering.

ITD Cementation India Limited

Registered & Corporate Office : 9th Floor, Prima Bay,
Tower - B, Gate No. 5, Saki Vihar Road, Powai, Mumbai - 400 072.
Tel.: 91-22-66931600 Fax : 91-22-66931628 www.itdcem.co.in
Corporate Identity Number : L61000M H1978PLC020435