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 ₹ 4,375 Cr.
- Current Price ₹ 252
- High / Low ₹ 383 / 229
- Stock P/E 16.3
- Book Value ₹ 105
- Dividend Yield 0.00 %
- ROCE 19.4 %
- ROE 20.9 %
- Face Value ₹ 5.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.5%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 59.8 to 71.8 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 873 | 1,134 | 2,068 | 3,029 | 3,437 | 3,453 | |
| 713 | 948 | 1,773 | 2,512 | 2,918 | 2,969 | |
| Operating Profit | 160 | 186 | 296 | 518 | 518 | 483 | 
| OPM % | 18% | 16% | 14% | 17% | 15% | 14% | 
| 12 | 13 | 19 | 37 | 56 | 63 | |
| Interest | 7 | 11 | 52 | 94 | 134 | 142 | 
| Depreciation | 14 | 19 | 38 | 55 | 56 | 56 | 
| Profit before tax | 151 | 169 | 225 | 405 | 385 | 348 | 
| Tax % | 26% | 26% | 26% | 25% | 25% | |
| 112 | 126 | 167 | 304 | 287 | 260 | |
| EPS in Rs | 1,145.50 | 16.02 | 21.29 | 19.48 | 16.88 | 15.36 | 
| Dividend Payout % | -0% | -0% | 4% | -0% | -0% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | 45% | 
| TTM: | 8% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | 32% | 
| TTM: | -22% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | % | 
| 1 Year: | -28% | 
| Return on Equity | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | 29% | 
| Last Year: | 21% | 
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.98 | 39 | 39 | 79 | 87 | 
| Reserves | 304 | 392 | 554 | 809 | 1,745 | 
| 30 | 316 | 703 | 1,066 | 1,397 | |
| 139 | 212 | 532 | 638 | 1,018 | |
| Total Liabilities | 474 | 959 | 1,828 | 2,592 | 4,248 | 
| 67 | 126 | 249 | 301 | 339 | |
| CWIP | 1 | 4 | 2 | 2 | 23 | 
| Investments | 13 | 71 | 23 | 2 | 6 | 
| 394 | 759 | 1,555 | 2,287 | 3,880 | |
| Total Assets | 474 | 959 | 1,828 | 2,592 | 4,248 | 
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 103 | -135 | -73 | -190 | -520 | |
| -20 | -164 | -134 | -58 | -130 | |
| -6 | 310 | 326 | 275 | 846 | |
| Net Cash Flow | 77 | 11 | 119 | 26 | 197 | 
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 15 | 31 | 56 | 52 | 72 | 
| Inventory Days | 30 | 34 | 57 | 41 | 37 | 
| Days Payable | 56 | 50 | 191 | 119 | 260 | 
| Cash Conversion Cycle | -11 | 15 | -78 | -26 | -151 | 
| Working Capital Days | 18 | 16 | 4 | 20 | 59 | 
| ROCE % | 33% | 27% | 30% | 19% | 
Documents
Announcements
- 
        
          Board Meeting Intimation for Intimation Pursuant To Regulation 29 Of The SEBI (LODR) Regulations, 2015 For The Board Meeting To Be Held On Tuesday, November 11, 2025.
          
            2d - Board meeting on Nov 11, 2025 to approve unaudited results for quarter and half-year ended Sep 30, 2025.
- 
        
          Closure of Trading Window
          
            2d - Board meeting on Nov 11, 2025 to approve unaudited Q2/H1 results for period ended Sep 30, 2025.
- 
        
          Incorporation Of A Wholly Owned Subsidiaries
          
            2d - Incorporated two 100%-owned SPVs on 29-10-2025 for 190MW and 147MW solar projects awarded 02-10-2025.
- 
        
          Intimation Of Financial Close For Project - Ceigall Southern Ludhiana Bypass Private Limited
          
            23 Oct - 6-lane Southern Ludhiana Bypass (HAM), 24-month completion; financial close noted 30-09-2025.
- 
        
          Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Incorporation Of Wholly Owned Subsidiary
          
            16 Oct - Incorporating two 100%-owned SPVs to develop 190MW and 147MW solar projects awarded Oct 2, 2025.
Concalls
- 
      Aug 2025Transcript PPT
- 
      May 2025Transcript PPT REC
- 
      Feb 2025Transcript PPT REC
- 
      Nov 2024Transcript PPT
- 
      Oct 2024TranscriptPPT
- 
      Sep 2024Transcript PPT
- 
      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.