CEIGALL

Ceigall India Limited

Infrastructure EPC company with highways, bridges and renewable energy projects

Industrials›Construction›Construction›Civil Construction

ceigall.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹393.80
Market cap
6,860 Cr
Stock P/E
21.4
P/B
3.21
Dividend yield
0.1%
ROE (FY26)
14.5%
ROCE (FY26)
16.7%
Operating margin (FY26)
13.0%
Debt / equity (FY26)
0.61
OCF / EBITDA (FY26)
-15.6%
OCF / EBITDA (3Y)
-50.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Ceigall (Ceigall India) builds highways, flyovers, tunnels, metro and railway works and other infrastructure, mainly as a contractor for government bodies such as the National Highways Authority of India (NHAI) and the road transport ministry (MoRTH), and is expanding into renewable energy and power transmission.

Company snapshot

17thBy market cap

Ranked among 90 companies in Civil Construction.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 84.7% of revenue

SegmentRevenue shareRevenuePBTAssets
Annuity Projects
7.1%
59 Cr19 Cr1,004 Cr
Engineering , Procurement and Construction
84.7%
703 Cr92 Cr2,901 Cr
Inter Segment—0 Cr0.21 Cr-501 Cr
Others
12.9%
107 Cr0 Cr0 Cr

Shares add up to 105% because segment revenues are before inter-segment eliminations.

What we see

Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales822 Cr772 Cr831 Cr1,012 Cr838 Cr807 Cr991 Cr1,387 Cr970 Cr
Operating expenses (approx.)678 Cr649 Cr707 Cr884 Cr729 Cr693 Cr852 Cr1,163 Cr826 Cr
EBITDA144 Cr123 Cr123 Cr128 Cr109 Cr114 Cr139 Cr224 Cr143 Cr
OPM %17.5%15.9%14.9%12.6%13.0%14.1%14.0%16.1%14.8%
Other income8 Cr15 Cr11 Cr23 Cr14 Cr17 Cr11 Cr12 Cr11 Cr
Interest35 Cr35 Cr27 Cr37 Cr42 Cr37 Cr37 Cr44 Cr44 Cr
Depreciation13 Cr14 Cr12 Cr16 Cr14 Cr16 Cr16 Cr16 Cr13 Cr
Profit before tax104 Cr88 Cr95 Cr98 Cr67 Cr77 Cr97 Cr176 Cr95 Cr
Tax %25.1%25.7%25.1%26.1%23.9%27.3%25.4%26.7%33.1%
Net profit78 Cr66 Cr71 Cr72 Cr51 Cr56 Cr72 Cr129 Cr64 Cr
EPS (₹)₹4.96₹4.04₹4.06₹4.16₹2.95₹3.22₹4.16₹7.41₹3.66

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,134 Cr2,068 Cr3,029 Cr3,437 Cr4,022 CrSign in free for the trailing twelve months
Operating expenses (approx.)948 Cr1,773 Cr2,512 Cr2,918 Cr3,437 CrSign in free for the trailing twelve months
EBITDA186 Cr296 Cr518 Cr518 Cr585 CrSign in free for the trailing twelve months
OPM %16.4%14.3%17.1%15.1%14.6%Sign in free for the trailing twelve months
Other income13 Cr19 Cr37 Cr56 Cr54 CrSign in free for the trailing twelve months
Interest11 Cr52 Cr94 Cr134 Cr160 CrSign in free for the trailing twelve months
Depreciation19 Cr38 Cr55 Cr56 Cr62 CrSign in free for the trailing twelve months
Profit before tax169 Cr225 Cr405 Cr385 Cr418 CrSign in free for the trailing twelve months
Tax %25.7%25.7%24.9%25.5%26.0%Sign in free for the trailing twelve months
Net profit126 Cr167 Cr304 Cr287 Cr309 CrSign in free for the trailing twelve months
EPS (₹)₹8.01₹10.65₹19.37₹17.04₹17.73Sign in free for the trailing twelve months
Dividend payout %———3.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital39 Cr39 Cr79 Cr87 Cr87 Cr
Reserves392 Cr554 Cr809 Cr1,745 Cr2,051 Cr
Borrowings316 Cr700 Cr1,061 Cr1,397 Cr1,310 Cr
Other liabilities212 Cr535 Cr625 Cr1,007 Cr2,067 Cr
Total liabilities959 Cr1,828 Cr2,592 Cr4,248 Cr5,523 Cr
Fixed assets (net)126 Cr246 Cr296 Cr339 Cr340 Cr
CWIP4 Cr2 Cr2 Cr23 Cr4 Cr
Investments71 Cr23 Cr2 Cr6 Cr10 Cr
Loans & advances———0.06 Cr50 Cr
Inventories39 Cr107 Cr118 Cr104 Cr99 Cr
Trade receivables96 Cr316 Cr430 Cr676 Cr636 Cr
Cash & bank97 Cr217 Cr243 Cr440 Cr280 Cr
Other assets527 Cr917 Cr1,501 Cr2,661 Cr4,104 Cr
Total assets959 Cr1,828 Cr2,592 Cr4,248 Cr5,523 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-135 Cr-73 Cr-211 Cr-520 Cr-91 Cr
Cash from investing-164 Cr-134 Cr-38 Cr-130 Cr-44 Cr
Cash from financing310 Cr326 Cr275 Cr846 Cr8 Cr
Net cash flow11 Cr119 Cr26 Cr197 Cr-127 Cr
Free cash flow (OCF − Capex)-212 Cr-219 Cr-319 Cr-687 Cr-170 Cr

Ratios

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %24.1%21.4%25.4%16.0%16.7%
ROE %29.2%28.2%33.8%15.9%14.5%
Debtor days3156527258
Inventory days3457413737
Days payable50190119260553
Cash conversion cycle15-78-26-151-458
OCF / EBITDA %-72.4%-24.6%-40.7%-100.2%-15.6%
OCF / EBITDA % (3 years)——-41.8%-60.3%-50.7%
Debt / equity0.731.181.200.760.61
Current ratio1.881.471.521.771.38
Net debt / EBITDA1.181.631.581.851.76