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 ₹ 5,932 Cr.
- Current Price ₹ 339
- High / Low ₹ 345 / 223
- Stock P/E 23.2
- 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 Industrials BSE 1000
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 | 3,567 | |
| 663 | 713 | 944 | 1,767 | 2,516 | 2,953 | 3,153 | |
| Operating Profit | 129 | 160 | 187 | 298 | 439 | 432 | 414 |
| OPM % | 16% | 18% | 17% | 14% | 15% | 13% | 12% |
| 6 | 12 | 13 | 20 | 37 | 53 | 64 | |
| Interest | 6 | 7 | 10 | 32 | 61 | 72 | 83 |
| Depreciation | 10 | 14 | 19 | 38 | 46 | 51 | 53 |
| Profit before tax | 119 | 151 | 171 | 249 | 368 | 362 | 341 |
| Tax % | 25% | 26% | 26% | 25% | 25% | 25% | |
| 89 | 112 | 127 | 185 | 277 | 270 | 256 | |
| EPS in Rs | 909.58 | 1,145.50 | 16.17 | 23.59 | 17.62 | 15.51 | 14.69 |
| Dividend Payout % | 0% | 0% | 0% | 6% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | 44% |
| TTM: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 28% |
| TTM: | -11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 33% |
| 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 |
| Free Cash Flow | 73 | 70 | 14 | -126 | 108 | -364 |
| CFO/OP | 101% | 89% | 74% | 32% | 62% | -39% |
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% |
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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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6h - The Company is organizing an Earnings Call for analysts and investors on Thursday, May 07, 2026 at 05:00 PM (IST) to discuss Audited Financial Results …
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
9h - Ceigall India emerged H1 bidder for Punjab de-silting tender worth Rs. 14.12 lakh, execution in 20 days.
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Closure of Trading Window
2d - Board meets on 7 May 2026 to approve FY26 audited results and consider final dividend.
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Board Meeting Intimation for Intimation For The Meeting Of The Board Of Ceigall India Limited
2d - Board meets on 7 May 2026 to approve FY26 audited results and consider final dividend.
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Incorporation Of Project SPV
23 Apr - Ceigall India approved incorporation of step-down subsidiary Ceigall Ambala Chandigarh Zirakpur Limited on 23 April 2026.
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.