ITD Cementation expects healthy revenue growth in FY20
ITD Cementation is expecting a healthy topline growth in financial year 2020, said Prasad Patwardhan, CFO of the firm.
“Over 30 percent growth would be difficult to sustain but given our order book for the next couple of years there is revenue visibility based on the existing orderbook. Therefore, we hope to post a healthy growth in our topline in FY20 as well,” he said.
The stock was falling in trade on Monday, losing more than 2.5 percent. It has halved in 2018.
Patwardhan said that the company received good number of orders in September and October, however, the bidding process slowed down a bit after that.
“In 2018 calendar year we received new orders worth about Rs 4,500 crore and in addition to that we are lowest on further orders worth about Rs 600 crore. This as compared to 2017 where the order inflow was about Rs 3,200 crore,” he said.
On Mumbai metro project, he said, “It’s nearly Rs 3,000 crore project and the project duration was about 5.5 years. So we have another three years to run.”
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