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 ₹ 6,325 Cr.
- Current Price ₹ 363
- High / Low ₹ 406 / 223
- Stock P/E 19.4
- Book Value ₹ 120
- Dividend Yield 0.14 %
- ROCE 19.5 %
- ROE 15.0 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
Cons
* 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.
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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 792 | 873 | 1,131 | 2,065 | 2,955 | 3,385 | 3,869 | 3,953 | |
| 663 | 713 | 944 | 1,767 | 2,516 | 2,953 | 3,382 | 3,438 | |
| Operating Profit | 129 | 160 | 187 | 298 | 439 | 432 | 487 | 515 |
| OPM % | 16% | 18% | 17% | 14% | 15% | 13% | 13% | 13% |
| 6 | 12 | 13 | 20 | 37 | 53 | 55 | 48 | |
| Interest | 6 | 7 | 10 | 32 | 61 | 72 | 82 | 78 |
| Depreciation | 10 | 14 | 19 | 38 | 46 | 51 | 50 | 47 |
| Profit before tax | 119 | 151 | 171 | 249 | 368 | 362 | 411 | 438 |
| Tax % | 25% | 26% | 26% | 25% | 25% | 25% | 26% | |
| 89 | 112 | 127 | 185 | 277 | 270 | 305 | 325 | |
| EPS in Rs | 5.58 | 7.03 | 8.09 | 11.80 | 17.62 | 15.51 | 17.52 | 18.63 |
| Dividend Payout % | 0% | 0% | 0% | 6% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 23% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 17% |
| TTM: | 27% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 43% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 20% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.98 | 0.98 | 39 | 39 | 79 | 87 | 87 |
| Reserves | 192 | 304 | 394 | 574 | 800 | 1,712 | 2,011 |
| 29 | 30 | 172 | 468 | 512 | 636 | 413 | |
| 108 | 139 | 181 | 531 | 578 | 1,023 | 1,712 | |
| Total Liabilities | 330 | 474 | 785 | 1,612 | 1,968 | 3,458 | 4,224 |
| 48 | 67 | 126 | 249 | 275 | 315 | 255 | |
| CWIP | 0 | 1 | 4 | 2 | 2 | 10 | 2 |
| Investments | 37 | 14 | 126 | 79 | 198 | 340 | 524 |
| 245 | 392 | 530 | 1,282 | 1,493 | 2,793 | 3,442 | |
| Total Assets | 330 | 474 | 785 | 1,612 | 1,968 | 3,458 | 4,224 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 96 | 103 | 91 | 31 | 180 | -274 | 457 | |
| -122 | -20 | -218 | -164 | -135 | -282 | -253 | |
| 30 | -6 | 132 | 258 | -32 | 706 | -315 | |
| Net Cash Flow | 4 | 77 | 6 | 124 | 12 | 150 | -111 |
| Free Cash Flow | 73 | 70 | 14 | -126 | 108 | -364 | 481 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 101% | 89% | 74% | 32% | 62% | -39% | 115% |
Ratios
Standalone / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 22 | 15 | 31 | 61 | 60 | 103 | 101 |
| Inventory Days | 12 | 30 | 34 | 57 | 38 | 38 | 37 |
| Days Payable | 39 | 56 | 51 | 191 | 123 | 279 | 553 |
| Cash Conversion Cycle | -4 | -11 | 15 | -72 | -26 | -138 | -415 |
| Working Capital Days | -2 | 18 | 3 | 7 | 14 | 71 | 71 |
| ROCE % | 56% | 38% | 33% | 34% | 22% | 20% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Order Book INR Million |
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| Order Inflow INR Million |
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| Book to Bill Ratio x |
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| Number of States of Operation count |
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| Cumulative Lane KMs Constructed lane km |
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| Ongoing Projects count |
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| Roads Share of Order Book % |
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Extracted by Screener AI
Documents
Announcements
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Intimation Of Financial Close For Project - Ceigall Sahebganj Bettiah Highway Limited
- Ceigall subsidiary achieved financial close for Rs. 2,160 crore Sahebganj-Bettiah highway project in Bihar.
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
- Wholly owned subsidiary signed TSA on 19 Oct 2026 for Lakadia, Khambhaliya and Jamnagar transmission system.
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Receipt Of Provisional Completion Certificate For HAM Project
- Subsidiary received provisional completion certificate for Rs.684 crore NH-152G HAM project, effective August 27, 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Ceigall received completion certificate for ₹1,659.84 crore Delhi–Saharanpur Highway; O&M at ₹2.88 crore annually.
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Issuance Of Completion Certificate For EPC Project
- Completion certificate dated 12 Oct 2026 for Delhi-UP Border to EPE Junction; highway fit for operation from 12 Sep 2024.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
Concalls
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT
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Feb 2026Transcript PPT
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Nov 2025Transcript
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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 2024Transcript
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Sep 2024Transcript PPT
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Aug 2024PPT 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.