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Ceigall India Ltd
NSE:CEIGALL

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Ceigall India Ltd
NSE:CEIGALL
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Price: 232.91 INR -0.64% Market Closed
Market Cap: 40.6B INR

Ceigall India Ltd
Investor Relations

Ceigall India Ltd is a IN-based company operating in Construction & Engineering industry. The company is headquartered in New Delhi, Delhi and currently employs 2,256 full-time employees. The company went IPO on 2024-08-08. Ceigall India Limited is an India-based engineering, procurement, and construction company. The firm is engaged in undertaking specialized structural work, such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways, and runways. The company is engaged in the design and construction of various road and highway projects, including specialized structures across 10 states in India. Its principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects. EPC and HAM projects, the scope of its services includes design and engineering of the project, procurement of raw materials, project execution at site with overall project management up to the commissioning of these projects. The company is also engaged in construction of a tunnel project in Jammu and Kashmir. The firm carries out the maintenance of the projects inter alia lighting, electrical, barrier-related work pursuant to the terms of the agreements.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 11, 2025
AI Summary
Q2 2026

Revenue Growth: Ceigall reported modest consolidated revenue growth of 3.1% YoY in H1 FY '26, with management reaffirming a full-year growth target of 10–15%.

Margins: Consolidated EBITDA margin for H1 FY '26 stood at 13.5%, with EPC margins expected to remain stable around 11.5% for the rest of the year.

Order Book: The company maintains a robust and diversified order book of INR 12,598 crores across 26 projects, with significant contributions from roads, renewables, and industrial infrastructure.

Order Inflows: New orders worth around INR 3,700 crores have been secured so far this year, with a full-year inflow target of INR 5,000 crores.

Debt Reduction: Both stand-alone and consolidated debt levels declined, with ongoing focus on deleveraging and a consolidated debt-to-equity ratio reduced to 0.7x.

HAM Projects: Equity infusion in HAM projects reached INR 603 crores by October 2025, with further INR 788 crores to be infused over the next 2.5 years.

Guidance Reiterated: Management reaffirmed its revenue growth and margin targets despite Q2 execution delays from heavy monsoons, expecting a strong H2 recovery.

Diversification and Technology: Ceigall is expanding into renewables, T&D, and digital infrastructure, and is actively adopting AI and digital tools to enhance efficiency.

Key Financials
Consolidated Revenue from Operations (Q2 FY '26)
INR 8,066 million
Consolidated Revenue from Operations (H1 FY '26)
INR 16,447 million
Stand-alone Revenue from Operations (Q2 FY '26)
INR 7,870 million
Stand-alone Revenue from Operations (H1 FY '26)
INR 16,053 million
Consolidated EBITDA (Q2 FY '26)
INR 1,136 million
Consolidated EBITDA margin (Q2 FY '26)
14.1%
Consolidated EBITDA (H1 FY '26)
INR 2,227 million
Consolidated EBITDA margin (H1 FY '26)
13.5%
Stand-alone EBITDA (Q2 FY '26)
INR 918 million
Stand-alone EBITDA (H1 FY '26)
INR 1,853 million
Stand-alone EBITDA margin (H1 FY '26)
11.5%
Consolidated PAT (Q2 FY '26)
INR 562 million
Consolidated PAT (H1 FY '26)
INR 1,075 million
Stand-alone PAT (Q2 FY '26)
INR 559 million
Stand-alone PAT (H1 FY '26)
INR 1,118 million
Stand-alone PAT margin (Q2 FY '26)
7.1%
Stand-alone PAT margin (H1 FY '26)
7%
Order Book
INR 12,598 crores
Order Inflows YTD
INR 3,700 crores
Equity Infused in HAM Projects (as of Oct 2025)
INR 603 crores
Stand-alone Total Debt (Sep 2025)
INR 614 crores
Stand-alone Debt-to-Equity Ratio (H1 FY '26)
0.3x
Consolidated Total Debt (Sep 2025)
INR 13,412 million
Consolidated Debt-to-Equity Ratio (H1 FY '26)
0.7x
HAM Receivables
INR 618 crores
Order Book: Road & Highway Segment
64% of order book
Order Book: Renewable Energy
22% of order book
Order Book: Industrial Infrastructure
5% of order book
Order Book: Transmission & Distribution
3% of order book
Bids Submitted (Total)
INR 14,320 million
Bid Pipeline: Road Segment
INR 8,886 crores
Bid Pipeline: Railway Segment
INR 4,896 crores
Bid Pipeline: Renewable Segment
INR 600 crores
Other Earnings Calls

Management

Mr. Ramneek Sehgal
MD & Director
No Bio Available
Mr. Kapil Agarwal
Chief Financial Officer
No Bio Available
Mr. Puneet Singh Narula
Whole-Time Director
No Bio Available
Mr. Ramesh Kumar Gupta
Chief Operating Officer
No Bio Available
Mr. Utkarsh Gupta
Company Secretary & Compliance Officer
No Bio Available
Mr. Bhagat Singh
Group Chief Financial Officer
No Bio Available

Contacts

Address
DELHI
New Delhi
2nd floor, JMK TOWER, Kapashera, NH-48
Contacts
+911144790099
ceigall.com