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Ceigall India Limited
(CEIGALL)
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Rating:51Neutral
Price Target:
₹377.00
▲(23.00% Upside)
Action:Reiterated
Date:08/09/26
The score is held back primarily by persistently negative operating and free cash flow, despite strong revenue growth and improving gross margins. Technical indicators also point to weak near-term momentum. Valuation appears reasonable on P/E, but lacks additional support from a disclosed dividend yield.
Positive Factors
Revenue acceleration
The sharp FY2026 revenue increase indicates substantial project execution and business scale-up. Sustained delivery of awarded infrastructure work can expand the company’s operating base, improve resource utilization, and support stronger earnings capacity over the next several quarters.
Negative Factors
Persistent negative cash flow
Persistent operating and free cash outflows despite reported earnings point to substantial working-capital absorption in the contracting model. Continued weak cash conversion can increase reliance on external funding, limit reinvestment capacity, and make project growth more financially demanding.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue acceleration
The sharp FY2026 revenue increase indicates substantial project execution and business scale-up. Sustained delivery of awarded infrastructure work can expand the company’s operating base, improve resource utilization, and support stronger earnings capacity over the next several quarters.
Read all positive factors
Ceigall India Limited (CEIGALL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹66.18B
Dividend Yield0.13%
Average Volume (3M)53.50K
Price to Earnings (P/E)20.6
Beta (1Y)1.05
Revenue Growth20.31%
EPS Growth18.14%
CountryIN
Employees2,298
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)7.47
Shares Outstanding174,204,860
10 Day Avg. Volume31,307
30 Day Avg. Volume53,504
Financial Highlights & Ratios
PEG Ratio10.66
Price to Book (P/B)2.22
Price to Sales (P/S)1.18
P/FCF Ratio-15.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)20.7
Revenue Forecast (FY)₹45.45B
Ceigall India Limited Business Overview & Revenue Model
Company Description
Based in Gurugram, India, Ceigall India Limited operates as a prominent infrastructure construction enterprise across India. The company offers end-to-end services, encompassing the engineering, procurement, and construction of diverse specialized...
How the Company Makes Money
CEIGALL makes money mainly by executing awarded infrastructure contracts, largely in the roads/highways segment, under EPC and HAM frameworks. Under EPC contracts, revenue is earned from construction activities performed for the project owner (typ...
Ceigall India Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2025 | Mar 2025 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 14.84B | 40.22B | 31.03B |
| Gross Profit | -87.98M | 6.43B | 3.40B |
| EBITDA | 2.72B | 6.40B | 5.65B |
| Net Income | 1.32B | 3.12B | 2.94B |
Balance Sheet | |||
| Total Assets | 45.39B | 55.23B | 42.48B |
| Cash, Cash Equivalents and Short-Term Investments | 3.61B | 3.79B | 6.35B |
| Total Debt | 13.43B | 13.11B | 13.97B |
| Total Liabilities | 25.94B | 33.77B | 24.04B |
| Stockholders Equity | 19.37B | 21.38B | 18.33B |
Cash Flow | |||
| Free Cash Flow | -5.55B | -3.06B | -6.87B |
| Operating Cash Flow | -3.88B | -2.11B | -5.20B |
| Investing Cash Flow | -1.23B | -844.27M | -1.30B |
| Financing Cash Flow | 1.95B | 1.69B | 8.46B |
Ceigall India Limited Technical Analysis
Positive
306.50
Price Trends
363.78
Positive
359.91
Positive
329.35
Positive
Market Momentum
2.54
Positive
52.26
Neutral
40.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CEIGALL, the sentiment is Positive. The current price of 306.5 is below the 20-day moving average (MA) of 379.39, below the 50-day MA of 363.78, and below the 200-day MA of 329.35, indicating a bullish trend. The MACD of 2.54 indicates Positive momentum. The RSI at 52.26 is Neutral, neither overbought nor oversold. The STOCH value of 40.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:CEIGALL.
Ceigall India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹34.68B | 4.74 | ― | 0.44% | -6.48% | 9.02% | |
62 Neutral | ₹63.40B | 5.03 | ― | 0.26% | -18.82% | 46.79% | |
61 Neutral | ₹35.90B | 15.98 | ― | 0.13% | 12.00% | 1.04% | |
59 Neutral | ₹28.05B | 7.12 | ― | 0.25% | -37.51% | -58.59% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹66.18B | 20.64 | ― | 0.13% | 20.31% | 18.14% | |
45 Neutral | ₹46.10B | 22.87 | ― | 1.34% | -20.64% | -12.46% |
* General Sector Average
IN:CEIGALL
Ceigall India Limited
379.90
125.24
49.18%
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-11.43
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Ceigall India Limited Corporate Events
Ceigall India Subsidiary Secures Financial Close for Rs 2,160-Crore Bihar Highway Project
Oct 21, 2026
Ceigall India Limited announced that its subsidiary, Ceigall Sahebganj Bettiah Highway Limited, has achieved financial close for a major highway project in Bihar. The project involves construction of four-laning on the Sahebganj–Areraj–...
Ceigall India Plans Analyst and Investor Meetings in Mumbai
Sep 27, 2026
Ceigall India Limited has scheduled one-on-one meetings with analysts and institutional investors in Mumbai on 30 September 2026, running from 9 a.m. to 6 p.m., with the date subject to change due to potential exigencies. The company has emphasize...
Ceigall India Plans In-Person Analyst and Investor Meetings in Gurgaon
Aug 18, 2026
Ceigall India Limited has scheduled an in-person series of one-on-one meetings with analysts and institutional investors in Gurgaon on Friday, August 21, 2026, running from 11:30 a.m. to 6:00 p.m. The company has cautioned that the schedule may ch...
Ceigall India Names Key Executives for Regulatory Disclosures
Aug 8, 2026
Ceigall India Limited has updated the stock exchanges with the latest details of its key managerial personnel authorized to assess the materiality of events and make regulatory disclosures. The move aligns with Regulation 30(5) of the SEBI Listing...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.