NICMAR UNIVERSITY

SCHOOL OF CONSTRUCTION
MBA ADVANCE CONSTRUCTION MANAGEMENT

FINANCIAL REPORT ON
I T D CEMENTATION INDIA LTD.

PREPARED BY
SHASHANK SHEKHAR P2270103
ANIRUDHA PAWASKAR P2270104
SAMIKSHA BHITADE P2270105
SAI ANIL KOTRA P2270106
ANIRUDDHA CHAKRABORTY P2270107
 TABLE OF CONTENT

Abstract Page No.

1. ABOUT THE COMPANY…………………………………………1
2. AREAS OF OPERATION……..…………………………………..2
3. IMPORATNT PROJECT ………………………………………….2
4. FINANCIAL DATA FROM CMIE PROWESS IQ………………..3
5. INTERPRETATION FROM PROFIT AFTER TAX ……………..4
6. INTERPRETATION FROM NET WORTH ………………………5
7. INTERPRETATION FROM CASH FLOW STATEMENT………6
8. INVEST IT OR NOT…………………………………..…………..7
 ACKNOLEDGEMENT
I would like to express my grateful appreciation to the management of Nicmar
University for their kindness for allowing me to give free access of CMIE portal.
Last but not least I extend my sincere thanks to Prof. Srividhya Sridharan for
her lectures and directions during the process.
 FINANCIAL
ANALYSIS REPORT
ON I T D
CEMENTATION
INDIA LTD.
 ABOUT THE COMPANY
History – Starting its journey in India in 1931 as a branch of The
Cementation Company Limited, UK, a member of Trafalgar House Group of
London, for carrying out of extensive grouting and drilling works to the
hydraulic structures. Since then, the Company has been assiduously working
towards building stronger India and has gained vast expertise in field of
infrastructure construction.
Areas of Operation – ITD Cementation has a vast experience in Maritime
Structures, Highways, Bridges and flyovers, TBM and NATM Tunnels,
Foundation and Specialist Engineering, Airport, Industrial Structure and
Building, Mass Rapid Transit System, Box Pushing, Tube heading and Micro
Tunnelling, Hydroelectric Power, Dams and Irrigation, Water and Waste Water
Important Projects
❖ BMCT- DREDGING AND RECLAMATION WORKS FOR
DEVELOPMENT OF 4TH CONTAINER TERMINAL IN
JAWAHARLAL NEHRU PORT (JNP)-PHASE-1

❖ NS-37 PACKAGE – JALANDHAR, PATHANKOT

❖ KOLKATA METRO RAIL CORPORATION LTD CONTRACT

UNDER GROUND 2 PROJECT

❖ SABARMATI RIVERFRONT DEVELOPMENT, AHMEDABAD

❖ KOLKATA AIRPORT

❖ LNG TANKS FOR IHI MUNDRA

❖ DELHI METRO PROJECTS EXECUTED SINCE 1998

❖ LAYING OF WATER TRUNK MAIN FROM GARDEN REACH

WATER WORKS TO TARATALA VALVE STATION AND
LAYING OF SEWER LINE ALONG DIAMOND HARBOUR
ROAD BY MICROTUNNELING METHOD

❖ MANSI DAM

❖ AAGARTALA – WATER TREATMENT PLANT

Financial Data from CMIE Prowess IQ

I T D Cementation India Ltd. 2018 2019 2020 2021 2022

Sales (Rs. Million) 18729.20 22657.30 21071.30 21706.90 32231.20

Total expenses (Rs. Million) 19248.20 22242.30 21083.70 22092.10 32104.80

Non-current liabilities (Rs. Million) 695.50 817.10 1248.00 1811.80 1813.50

Current liabilities & provisions (Rs. Million) 16920.80 10529.40 16554.30 82462.60 21658.40

Non-current assets (Rs. Million) 7414.50 6947.80 12571.30 17838.60 12579.80

Current assets (incl. short term investments, loans

16374.70 14607.50 15757.20 12531.90 22204.10
& advances) (Rs. Million)

Net cash flow from operating activities (Rs.

-171.00 800.90 3185.50 17775.70 3557.30
Million)

Net cash inflow or (outflow) from investment

-795.20 -975.20 -1592.30 487.30 -1133.30
activities (Rs. Million)

Net cash inflow or (outflow) from financing

416.10 -224.20 -381.30 -1094.20 -336.10
activities (Rs. Million)

Net worth (Rs. Million) 6172.90 10208.80 10526.20 -466.20 11312.00

Profit after tax (Rs. Million) 728.20 818.70 431.70 10657.20 688.10
Profit after Tax - Profit after-tax is the earnings of a business after all
income taxes have been deducted. This amount is the final, residual amount of
profit generated by an organization. The profit after-tax figure is considered the
best measure of the ability of an entity to generate a return, since it
incorporates both operating income and income from other sources, such as
interest income. If the PAT value is high, it shows high efficacy and vice versa.
Interpretation – After plotting graph we have seen that though during
Covid company’s PAT score has been decreasing but after Covid they
have recovered considerably. That shows company management can
generate revenue into profit. But the company cannot maintain this
legacy. For the current year their PAT score again comes down
significantly.

Profit after tax (Rs. Million)

12000.00

10657.20
10000.00

8000.00

6000.00

4000.00

2000.00

728.20 818.70 688.10

431.70
0.00
2018 2019 2020 2021 2022
Net Worth - Net worth is the value of the assets a person or corporation owns;
minus the liabilities they owe. It is an important metric to gauge a company's
health, providing a useful snapshot of its current financial position.
Interpretation – After plotting graph we have seen that though during
Covid company’s net worth was in a good stage but after Covid they
could not manage to continue it, their score decreased. This shows that
may be during Covid company took more loans to continue their
operations, as a result on the next year they have to repay a considerable
amount that increases their liabilities. But in the recent year they manage
to recover from their position and now they came back to track.

Net worth (Rs. Million)

12000.00
11312.00
10526.20
10000.00 10208.80

8000.00

6000.00 6172.90

4000.00

2000.00

0.00
-466.20

-2000.00
2018 2019 2020 2021 2022
Cash Flow Statement – A cash flow statement summarizes the amount of
cash and cash equivalents entering and leaving a company. The cash flow
statements highlight a company’s cash management, including how well it
generates cash. The financial statement complements the balance sheet and the
income statement. The main component of the cash flow statements are cash
flow from three areas: Operating activities, Investing activities and Financial
activities.
Interpretation – From the shape of the graph we can observe that
except one year (2018) cash flow from operating activities is positive that
means cash inflow is happening from operating activities. It means that
their sales is increasing and more than other operating expenses. While if
we look at shape of investment activity curve, we can observe that except
the year 2021, for all other year the sign is negative. This means that they
are investing on purchase of equipment. Last but not the least if we go
through the financing activity curve except one year (2018) for all other
years the sign is negative. This means cash is going out, i.e., they are
generating enough revenue so that they can pay dividends and interests to
their shareholders.

Net Cash Flow Operating,Investment and Fiancing Activitites

20000.00

17775.70

15000.00

10000.00

5000.00

3185.50 3557.30
800.90
487.30
416.10
-224.20 -381.30 -336.10
0.00
-171.00 2018 2019 2020 2021 2022
-795.20
-1133.30
-975.20 -1592.30 -1094.20
-5000.00
Invest it or not – If we look the cash flow statement and follow the
Dickerson’s Model the company is in growth stage. That gives us a insight that
it may give their investor a reasonable amount of dividends. This statement is
also supported by their balance sheet which is shown by the net worth curve.
But if we look into their income statement, we can find that their income is not
increasing rapidly. So, the dividend we can think of next five years is of more
or less same, increase will be very less. So, in a nutshell we think that we
should wait for one or two more years and monitor their PAT score and then
invest.