Ceigall India Ltd
Founded in 2002, Ceigall India Limited is an infrastructure construction company with expertise in specialized structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.[1]
- Market Cap ₹ 4,218 Cr.
- Current Price ₹ 242
- High / Low ₹ 383 / 229
- Stock P/E 16.9
- Book Value ₹ 109
- Dividend Yield 0.00 %
- ROCE 22.0 %
- ROE 19.5 %
- Face Value ₹ 5.00
Pros
- Company has delivered good profit growth of 24.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.3%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 71.0 to 91.8 days.
- Working capital days have increased from 28.1 days to 63.2 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Construction Construction Civil Construction
Part of BSE SmallCap BSE Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 792 | 873 | 1,131 | 2,065 | 2,955 | 3,385 | 3,407 | |
| 663 | 713 | 944 | 1,767 | 2,516 | 2,953 | 3,008 | |
| Operating Profit | 129 | 160 | 187 | 298 | 439 | 432 | 399 |
| OPM % | 16% | 18% | 17% | 14% | 15% | 13% | 12% |
| 6 | 12 | 13 | 20 | 37 | 53 | 62 | |
| Interest | 6 | 7 | 10 | 32 | 61 | 72 | 73 |
| Depreciation | 10 | 14 | 19 | 38 | 46 | 51 | 54 |
| Profit before tax | 119 | 151 | 171 | 249 | 368 | 362 | 334 |
| Tax % | 25% | 26% | 26% | 25% | 25% | 25% | |
| 89 | 112 | 127 | 185 | 277 | 270 | 250 | |
| EPS in Rs | 909.58 | 1,145.50 | 16.17 | 23.59 | 17.62 | 15.51 | 14.33 |
| Dividend Payout % | 0% | 0% | 0% | 6% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | 44% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 28% |
| TTM: | -15% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -29% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 27% |
| Last Year: | 19% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.98 | 0.98 | 39 | 39 | 79 | 87 | 87 |
| Reserves | 192 | 304 | 394 | 574 | 800 | 1,712 | 1,817 |
| 29 | 30 | 172 | 468 | 512 | 636 | 617 | |
| 108 | 139 | 181 | 531 | 578 | 1,024 | 1,263 | |
| Total Liabilities | 330 | 474 | 785 | 1,612 | 1,968 | 3,460 | 3,784 |
| 48 | 67 | 126 | 249 | 275 | 315 | 275 | |
| CWIP | 0 | 1 | 4 | 2 | 2 | 10 | 0 |
| Investments | 37 | 14 | 126 | 79 | 198 | 340 | 477 |
| 245 | 392 | 530 | 1,282 | 1,493 | 2,795 | 3,032 | |
| Total Assets | 330 | 474 | 785 | 1,612 | 1,968 | 3,460 | 3,784 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 96 | 103 | 91 | 31 | 180 | -274 | |
| -122 | -20 | -218 | -164 | -135 | -282 | |
| 30 | -6 | 132 | 258 | -32 | 706 | |
| Net Cash Flow | 4 | 77 | 6 | 124 | 12 | 150 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 22 | 15 | 31 | 61 | 60 | 92 |
| Inventory Days | 12 | 30 | 34 | 57 | 38 | 38 |
| Days Payable | 39 | 56 | 51 | 191 | 123 | 269 |
| Cash Conversion Cycle | -4 | -11 | 15 | -72 | -26 | -139 |
| Working Capital Days | -2 | 18 | 3 | 7 | 14 | 63 |
| ROCE % | 56% | 38% | 33% | 34% | 22% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Officials of our Company will be interacting with the Analyst/Investors
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - Subsidiary L1 for Rs.1089 Cr Indore–Ujjain 48.10km HAM highway; 24-month execution.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
27 Nov - Received Rs.12.185 Crore desilting contract from WRD Punjab; LOA dated 26-Nov-2025; 180 days.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
25 Nov - Dear Sir/Ma'am, Pursuant to Regulation 30 of the SEBI (LODR), Regulations, 2015, we would like to inform you that the officials of our Company will …
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
25 Nov - LOI for 400/220kV Velgaon GIS; Rs58.5cr/year annuity for 35 years; Rs450cr EPC cost over two years construction, 35-year O&M period.
Concalls
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Nov 2025TranscriptPPT
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Oct 2024TranscriptPPT
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Sep 2024Transcript PPT
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Aug 2024TranscriptNotesPPT REC
Business Profile[1]
Ceigall India Ltd is a leading EPC company with over 20 years of experience in infrastructure projects, specializing in highways, expressways, flyovers, tunnels, elevated roads, and metro rail. It follows an asset-light model, operating primarily with leased equipment.