Vadwan port project delay
The Vadwan port project, worth ~₹1,600 cr, remains stalled due to local issues, causing a revenue loss of ₹200-300 cr in Q3. No clear timeline for resolution.
Cemindia Projects · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
The Vadwan port project, worth ~₹1,600 cr, remains stalled due to local issues, causing a revenue loss of ₹200-300 cr in Q3. No clear timeline for resolution.
Outstanding receivables from Bangladesh stood at ₹170 cr as of December. While management claims operations are normal, geopolitical risks remain elevated.
Several large government tenders expected in FY26 have been delayed, potentially pushing order inflows of ₹3,000-4,000 cr into FY27.
Q3 revenue grew only 2% YoY, significantly below the company's historical run rate, raising concerns about near-term execution momentum.