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 ₹ 4,811 Cr.
- Current Price ₹ 276
- High / Low ₹ 308 / 223
- Stock P/E 18.6
- Book Value ₹ 111
- 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 Allcap BSE Industrials
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 | 3,648 | |
| 713 | 948 | 1,773 | 2,512 | 2,918 | 3,158 | |
| Operating Profit | 160 | 186 | 296 | 518 | 518 | 490 |
| OPM % | 18% | 16% | 14% | 17% | 15% | 13% |
| 12 | 13 | 19 | 37 | 56 | 65 | |
| Interest | 7 | 11 | 52 | 94 | 134 | 154 |
| Depreciation | 14 | 19 | 38 | 55 | 56 | 62 |
| Profit before tax | 151 | 169 | 225 | 405 | 385 | 340 |
| Tax % | 26% | 26% | 26% | 25% | 25% | |
| 112 | 126 | 167 | 304 | 287 | 252 | |
| EPS in Rs | 1,145.50 | 16.02 | 21.29 | 19.48 | 16.88 | 14.88 |
| 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: | -21% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 9% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 30% |
| 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 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.98 | 39 | 39 | 79 | 87 | 87 |
| Reserves | 304 | 392 | 554 | 809 | 1,745 | 1,850 |
| 30 | 316 | 703 | 1,066 | 1,397 | 1,343 | |
| 139 | 212 | 532 | 638 | 1,018 | 1,259 | |
| Total Liabilities | 474 | 959 | 1,828 | 2,592 | 4,248 | 4,539 |
| 67 | 126 | 249 | 301 | 339 | 326 | |
| CWIP | 1 | 4 | 2 | 2 | 23 | 10 |
| Investments | 13 | 71 | 23 | 2 | 6 | 7 |
| 394 | 759 | 1,555 | 2,287 | 3,880 | 4,195 | |
| Total Assets | 474 | 959 | 1,828 | 2,592 | 4,248 | 4,539 |
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 |
| Free Cash Flow | 70 | -214 | -229 | -296 | -624 |
| CFO/OP | 89% | -47% | -3% | -16% | -79% |
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% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|---|
| Book to Bill Ratio x |
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| Net Working Capital Days Days |
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| Order Book Rs. Million |
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| Order Inflow Rs. Million |
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| Early Completion Bonus Earned Rs. Million |
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| Lane Kms Constructed Lane Kms |
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| Number of Ongoing Projects Projects |
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| Number of Projects Completed Projects |
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| O&M Projects completed Lane Kms |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Ceigall subsidiary executed 15 PPAs for 130 MW solar project at ₹572 crore, 25-year term.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
1d - Ceigall subsidiary executed 15 PPAs for 130 MW solar project at ₹2.85/unit on April 1, 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
27 Mar - LOA dated 27-Mar-2026: Rs 603 crore, 10.3 km 6-lane HAM spur; 18-month construction, 15-year O&M.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
27 Mar - CIPPL wins Rs 603 crore NHAI LOA for 10.3 km, 6‑lane HAM spur; 18-month construction, 15-year O&M.
- Closure of Trading Window 25 Mar
Concalls
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Feb 2026Transcript PPT
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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 2024TranscriptAI SummaryPPT 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.