Ceigall India Ltd.

•

ceigall.comBSE: 544223NSE: CEIGALL

Market Cap₹ 6,618 Cr.

Current Price

High / Low₹ 406 / 223

Stock P/E20.7

Book Value₹ 126

Price to Book2.42

Dividend Yield0.13 %

ROCE20.0 %

ROE21.1 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Engineering Procurement and Construction: 74.0% • Annuity Projects: 18.2% • Others: 7.8%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 31.6%
Company has a healthy return on capital (ROCE) of 26.0%
Company has consistently been profitable over the last 5 years
Attractively priced for its growth - PEG of 0.7

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.03x)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 121.7%
Working capital days have increased from 65 to 126 days

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	303.00	120.52	26710.00	692.49	12.88	9.42
12.	CEIGALL	379.90	20.68	6618.04	0.13	637.47	1141.71	9696.42	1056.84	20.04	14.79

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	650	741	695	944	822	772	831	1,012	838	807	991	1,387	970
	563	614	555	779	678	649	707	884	729	693	852	1,163	883
Operating Profit	87	127	140	164	144	123	123	128	109	114	139	224	86
OPM %	13.42%	17.09%	20.08%	17.41%	17.52%	15.93%	14.86%	12.64%	13.02%	14.09%	14.04%	16.12%	8.91%
	8	9	12	8	8	15	11	23	14	17	11	12	14
Interest	23	24	21	26	35	35	27	37	42	37	37	44	44
Depreciation	12	14	13	16	13	14	12	16	14	16	16	16	13
Profit before Tax	60	97	117	131	104	88	95	98	67	77	97	176	95
Tax %	26.90%	23.98%	33.27%	17.23%	25.08%	25.70%	25.11%	26.09%	23.87%	27.28%	25.41%	26.66%	33.15%
Net Profit	0	0	0	0	78	66	71	72	51	56	72	129	64
	2.81	4.70	4.98	6.88	4.95	4.04	4.06	4.16	2.95	3.22	4.16	7.41	3.66

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	4,154
	713	948	1,773	2,512	2,918	3,591
Operating Profit	160	186	296	518	518	563
OPM %	18.29%	16.40%	14.29%	17.09%	15.08%	13.55%
	12	13	19	37	56	54
Interest	7	11	52	94	134	162
Depreciation	14	19	38	55	56	61
Profit before Tax	151	169	225	405	385	446
Tax %	25.62%	25.73%	25.72%	24.93%	25.49%	27.88%
Net Profit	112	126	167	304	287	321
EPS	7.16	8.01	10.65	19.48	16.88	—
Dividend Payout %	0.00%	0.00%	3.52%	3.85%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 45%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 33%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 39%

RETURN ON EQUITY

10 Years:: —
5 Years:: 33%
3 Years:: 32%
Last Year:: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	39	39	79	87
Minority Interest	0	0	0	19	11
	304	392	554	809	1,745
	30	316	729	794	1,065
Trade Payables	52	57	359	344	725
	84	153	136	539	609
Total Liabilities	472	957	1,817	2,583	4,243
	67	126	249	301	339
Capital Work in Progress	1	4	2	2	23
	13	71	23	2	6
	28	39	107	118	104
	0	0	0	430	676
Cash & Bank	152	192	361	368	634
	211	526	1,076	1,362	2,462
Total Assets	472	957	1,817	2,583	4,243

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	142	-87	-9	-190	-520
Cash from Investing	-20	-164	-134	-58	-130
Cash from Financing	-6	310	326	275	846
	77	11	119	26	197

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	82.06	82.06	82.06	82.06	82.06	82.06	82.06	82.06
	2.97	1.58	1.47	1.81	2.47	2.90	3.14	3.88
	6.88	7.67	8.23	7.33	5.67	5.08	5.37	3.65
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	8.09	8.70	8.24	8.81	9.79	9.97	9.44	10.41

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Other Restructuring

2026-09-11 - Ceigall India Limited has informed the Exchange about investment by way of subscription 49% equity in the Joint Venture Company (proposed to be incorporated).

2026-09-11

Acquisition

2026-09-11 - Ceigall India Limited has informed the Exchange about Acquisition.

2026-09-11

Outcome of Board Meeting

2026-09-11 - Ceigall India Limited has informed the Exchange regarding Outcome of Board Meeting held on September 11, 2026.

2026-09-08

Bagging/Receiving of orders/contracts

2026-09-08 - Ceigall India Limited has informed the Exchange about emerging as the H1 bidder in the Project नवादा जिला के पत्थर भूखण्डों की बंदोबस्ती हेतु (Allotment/Leasing of Stone Blocks in Nawada District Lot-4) (Bhadokhara, Block-D) under Competitive Bidding through E-Reverse Auction from Government of Bihar, Department of Mines and Geology on 07th September 2026

2026-09-07

Updates

2026-09-07 - Ceigall India Limited has informed the Exchange regarding ''. Machine Readable / legible copy of Financial Results.

2026-09-05

Copy of Newspaper Publication

2026-09-05 - Ceigall India Limited has informed the Exchange about Copy of Newspaper Publication-Newspaper advertisement confirming dispatch of Notice of 24th Annual General Meeting and Annual Report of the Company for the FY 2025-26

2026-09-03

General Updates

2026-09-03 - Ceigall India Limited has informed the Exchange about Letter to Shareholders under Regulation 36(1)(b).

2026-09-03

Shareholders meeting

2026-09-03 - Ceigall India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026.

2026-09-03

Press Release

2026-09-03 - Ceigall India Limited has informed the Exchange regarding a press release dated September 03, 2026, titled "Ceigall India Receives LOI of ₹5,300 Crore for Transmission Project for Power Evacuation in Gujarat".

News

Recent coverage and analyst commentary for CEIGALL

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Ceigall India Ltd.

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Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

303.00

120.52

26710.00

692.49

12.88

9.42

CEIGALL

379.90

20.68

6618.04

0.13

637.47

1141.71

9696.42

1056.84

20.04

14.79

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

650

741

695

944

822

772

831

1,012

838

807

991

1,387

970

563

614

555

779

678

649

707

884

729

693

852

1,163

883

Operating Profit

127

140

164

144

123

128

109

114

139

224

OPM %

13.42%

17.09%

20.08%

17.41%

17.52%

15.93%

14.86%

12.64%

13.02%

14.09%

14.04%

16.12%

8.91%

Interest

Depreciation

Profit before Tax

117

131

104

176

Tax %

26.90%

23.98%

33.27%

17.23%

25.08%

25.70%

25.11%

26.09%

23.87%

27.28%

25.41%

26.66%

33.15%

Net Profit

129

2.81

4.70

4.98

6.88

4.95

4.04

4.06

4.16

2.95

3.22

4.16

7.41

3.66

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

873

1,134

2,068

3,029

3,437

4,154

713

948

1,773

2,512

2,918

3,591

Operating Profit

160

186

296

518

563

OPM %

18.29%

16.40%

14.29%

17.09%

15.08%

13.55%

Interest

134

162

Depreciation

Profit before Tax

151

169

225

405

385

446

Tax %

25.62%

25.73%

25.72%

24.93%

25.49%

27.88%

Net Profit

112

126

167

304

287

321

EPS

7.16

8.01

10.65

19.48

16.88

—

Dividend Payout %

0.00%

3.52%

3.85%

0.00%

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

304

392

554

809

1,745

316

729

794

1,065

Trade Payables

359

344

725

153

136

539

609

Total Liabilities

472

957

1,817

2,583

4,243

126

249

301

339

Capital Work in Progress

107

118

104

430

676

Cash & Bank

152

192

361

368

634

211

526

1,076

1,362

2,462

Total Assets

472

957

1,817

2,583

4,243

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

142

-87

-9

-190

-520

Cash from Investing

-20

-164

-134

-58

-130

Cash from Financing

-6

310

326

275

846

119

197

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

82.06

2.97

1.58

1.47

1.81

2.47

2.90

3.14

3.88

6.88

7.67

8.23

7.33

5.67

5.08

5.37

3.65

Government

0.00

8.09

8.70

8.24

8.81

9.79

9.97

9.44

10.41

Ceigall India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Ceigall India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI