Ceigall India Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹6,842 Cr
- P/E
- 21.27
- ROE
- 15.71%
- PEG
- 0.90
- Price to sales
- 1.64
- Debt to equity
- 0.61
- 52W high / low
- ₹396 / ₹226
- Sales growth (5Y)
- 35.73%
- EBITDA margin
- 14.92%
- Net profit margin
- 7.68%
- Promoter holding
- 82.05%
- Sales (last year)
- ₹4,154 Cr
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]
Guidance scorecard · Q1 FY27 call
What Ceigall India Ltd's management guided
and where it ranks in Construction
Construction
RevenueQ1 FY27 call
10–20%- Ceigall India expects continued revenue growth supported by a robust order book of INR18,568 crores, diversified across EPC, HAM, renewable energy, transmission, metro rail, and industrial infrastructure projects.
- FY27 revenue growth guidance remains around 15%, with execution momentum from started and upcoming projects, including new HAM and solar projects.
- Order inflows are expected to accelerate in H2 FY27, considering historical trends where 45% of inflows occur in Q3 and Q4.
- The company targets steady margin maintenance and improved working capital intensity in FY27 and FY28.
- Conservative international expansion is underway in select markets like Romania and Dubai.
2 more points from Ceigall India Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Ceigall India Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Q1 FY27 capex was approximately INR 14 crores, primarily for purchasing a launcher for the Danapur project.
- Over INR 100 crores worth of machinery has been purchased from IPO proceeds.
- Full-year capex guidance is INR 30-35 crores.
- The company plans incremental equity infusion of INR 550 crores across 11 HAM projects.
- For FY27, balance equity commitment (HAM + solar) is INR 859 crores; INR 310 crores allocated for solar, INR 550 crores for HAM.
2 more points from Ceigall India Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Ceigall India Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- As of June 30, 2026, Ceigall India Limited's order book stood at INR 18,568 crores, providing strong multi-year revenue visibility.
- The order book includes 19 EPC projects, 10 HAM projects, 1 DBFOT project, and 9 tariff-based renewable and transmission projects.
- The company signed the concession agreement for Ambala-Chandigarh-Zirakpur HAM and received appointed dates for VRK 11, VRK 12, and Indore-Ujjain Greenfield HAM projects post quarter-end.
- Ceigall has a robust order book in India with ongoing bids for international projects in markets like Romania and Dubai, though international expansion is approached conservatively.
2 more points from Ceigall India Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Construction
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,531 Cr | 11.7 | |
| 2 | 40%+ | Flat | ₹1,089 Cr | 9.3 | |
| 3 | 40%+ | Flat | ₹898 Cr | 7.6 | |
| 4 | 40%+ | Flat | ₹807 Cr | 14.7 | |
| 5 | 40%+ | Flat | ₹554 Cr | 13.1 | |
| 6 | 40%+ | Flat | ₹516 Cr | 30.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Construction rankingFinancials of Ceigall India Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Ceigall India Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 650 | 741 | 695 | 944 | 822 | 772 | 831 | 1,012 | 838 | 807 | 991 | 1,387 |
| Expenses + | 563 | 614 | 555 | 779 | 678 | 649 | 707 | 884 | 729 | 693 | 852 | 1,163 |
| Operating Profit | 87 | 127 | 140 | 164 | 144 | 123 | 123 | 128 | 109 | 114 | 139 | 224 |
| OPM % | 13% | 17% | 20% | 17% | 18% | 16% | 15% | 13% | 13% | 14% | 14% | 16% |
| Other Income + | 8 | 9 | 12 | 8 | 8 | 15 | 11 | 23 | 14 | 17 | 11 | 12 |
| Interest | 23 | 24 | 21 | 26 | 35 | 35 | 27 | 37 | 42 | 37 | 37 | 44 |
| Depreciation | 12 | 14 | 13 | 16 | 13 | 14 | 12 | 16 | 14 | 16 | 16 | 16 |
| Profit before tax | 60 | 97 | 117 | 131 | 104 | 88 | 95 | 98 | 67 | 77 | 97 | 176 |
| Tax % | 27% | 24% | 33% | 17% | 25% | 26% | 25% | 26% | 24% | 27% | 25% | 27% |
| Net Profit + | 44 | 74 | 78 | 108 | 78 | 66 | 71 | 72 | 51 | 56 | 72 | 129 |
| EPS in Rs | 5.63 | 4.70 | 5.04 | 6.93 | 5.05 | 3.86 | 4.20 | 4.25 | 3.05 | 3.33 | 4.25 | 7.27 |
Financials of Ceigall India Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 873 | 1,134 | 2,068 | 3,029 | 3,437 | 4,022 |
| Expenses + | 713 | 948 | 1,773 | 2,512 | 2,918 | 3,437 |
| Operating Profit | 160 | 186 | 296 | 518 | 518 | 585 |
| OPM % | 18% | 16% | 14% | 17% | 15% | 15% |
| Other Income + | 12 | 13 | 19 | 37 | 56 | 54 |
| Interest | 7 | 11 | 52 | 94 | 134 | 160 |
| Depreciation | 14 | 19 | 38 | 55 | 56 | 62 |
| Profit before tax | 151 | 169 | 225 | 405 | 385 | 418 |
| Tax % | 26% | 26% | 26% | 25% | 25% | 26% |
| Net Profit + | 112 | 126 | 167 | 304 | 287 | 309 |
| EPS in Rs | 1,145.50 | 16.02 | 21.29 | 19.48 | 16.88 | 17.90 |
| Dividend Payout % | 0% | 0% | 4% | 0% | 0% | 0% |
Financials of Ceigall India Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.98 | 39 | 39 | 79 | 87 | 87 |
| Reserves | 304 | 392 | 554 | 809 | 1,745 | 2,051 |
| Borrowings + | 30 | 316 | 703 | 1,066 | 1,397 | 1,311 |
| Other Liabilities + | 139 | 212 | 532 | 638 | 1,018 | 2,074 |
| Total Liabilities | 474 | 959 | 1,828 | 2,592 | 4,248 | 5,523 |
| Fixed Assets + | 67 | 126 | 249 | 301 | 339 | 341 |
| CWIP | 1 | 4 | 2 | 2 | 23 | 4 |
| Investments | 13 | 71 | 23 | 2 | 6 | 10 |
| Other Assets + | 394 | 759 | 1,555 | 2,287 | 3,880 | 5,169 |
| Total Assets | 474 | 959 | 1,828 | 2,592 | 4,248 | 5,523 |
Financials of Ceigall India Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 103 | -135 | -73 | -190 | -520 | -91 |
| Cash from Investing Activity + | -20 | -164 | -134 | -58 | -130 | -44 |
| Cash from Financing Activity + | -6 | 310 | 326 | 275 | 846 | 8 |
| Net Cash Flow | 77 | 11 | 119 | 26 | 197 | -127 |
| Free Cash Flow | 70 | -214 | -229 | -296 | -624 | -129 |
| CFO/OP | 89% | -47% | -3% | -16% | -79% | 6% |
Financials of Ceigall India Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 15 | 31 | 56 | 52 | 72 | 58 |
| Inventory Days | 30 | 34 | 57 | 41 | 37 | 11 |
| Days Payable | 56 | 50 | 191 | 119 | 260 | 164 |
| Cash Conversion Cycle | -11 | 15 | -78 | -26 | -151 | -95 |
| Working Capital Days | 18 | 16 | 4 | 20 | 59 | 62 |
| ROCE % | 33% | 27% | 30% | 19% | 17% |
Guidance history
How Ceigall India Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | Planned | Rising |
| Q4 FY26 call → | 10–20% | Flat | Planned | Planned | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
80 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +53.9% | 86% |
| Last 6 months | +15.9% | 71% |
| Last 3 months | +17.2% | 85% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Ceigall India Ltd: 0.4 × 86 + 0.4 × 71 + 0.2 × 85 = 80.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Ceigall India Ltd's management said in earlier quarters
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