Ceigall India Limited (IN:CEIGALL)
:CEIGALL
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Ceigall India Limited
(CEIGALL)
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Rating:62Neutral
Price Target:
₹352.00
▲(14.85% Upside)
Action:N/A
Date:05/09/26
The score is primarily held back by persistently negative operating and free cash flow despite strong revenue growth, which is a key risk for a working-capital-intensive Engineering & Construction business. Technicals are supportive with a clear uptrend, but overbought signals temper the near-term outlook. Valuation is reasonable at a mid-teens P/E, with no dividend yield data available to add support.
Positive Factors
Strong revenue acceleration & improved gross margin
A sharp revenue jump with material gross margin expansion indicates the company scaled project execution and/or improved pricing and input control. That combination supports sustainable top-line momentum and better project-level economics, improving long-term contract competitiveness and capacity to tender larger jobs.
Negative Factors
Persistent negative operating and free cash flow
Chronic negative operating and free cash flow despite reported earnings signals weak cash conversion from receivables, retention money or inventory. This working-capital drag increases dependence on external funding, raises funding costs, and limits the company's ability to self-fund new contracts or capex over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue acceleration & improved gross margin
A sharp revenue jump with material gross margin expansion indicates the company scaled project execution and/or improved pricing and input control. That combination supports sustainable top-line momentum and better project-level economics, improving long-term contract competitiveness and capacity to tender larger jobs.
Read all positive factors
Ceigall India Limited (CEIGALL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹61.15B
Dividend YieldN/A
Average Volume (3M)7.98K
Price to Earnings (P/E)19.2
Beta (1Y)1.01
Revenue Growth17.04%
EPS Growth2.83%
CountryIN
Employees2,298
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)7.47
Shares Outstanding174,204,860
10 Day Avg. Volume12,826
30 Day Avg. Volume7,976
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)20.25
Revenue Forecast (FY)₹45.55B
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 primarily makes money through (1) EPC contracting revenue and (2) annuity/operations-linked cash flows from HAM projects. Under EPC contracts, the company is paid by project authorities (typically government or government-linked agencies) ...
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 | 5.85B | 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 Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ₹61.15B | 19.20 | ― | ― | 17.04% | 2.83% | |
51 Neutral | ₹1.58B | 6.05 | ― | ― | -6.15% | ― | |
46 Neutral | ₹1.25B | -0.10 | ― | ― | -11.85% | -43631.89% | |
42 Neutral | ₹60.05M | -17.14 | ― | ― | ― | ― | |
41 Neutral | ₹113.81M | -0.14 | ― | ― | -35.93% | -3791.54% |
* Industrials Sector Average
IN:CEIGALL
Ceigall India Limited
351.05
101.35
40.59%
IN:ARSSINFRA
ARSS Infrastructure Projects Limited
54.84
0.28
0.51%
IN:CANDC
C&C Constructions Ltd.
―
―
―
IN:MEP
MEP Infrastructure Developers Ltd.
0.87
-1.38
-61.33%
IN:PBAINFRA
PBA Infrastructure Limited
8.43
-2.90
-25.60%
IN:SADBHAV
Sadbhav Engineering Limited
9.18
-4.72
-33.96%
Ceigall India Limited Corporate Events
Ceigall India posts strong FY26 results, boosts order book and expands into renewables
May 7, 2026
Ceigall India Limited reported strong audited financial results for Q4 and FY26, driven by consistent execution in its core EPC business and robust order inflows in highways and urban mobility. Consolidated revenue for Q4 FY26 rose 37% year-on-yea...
Ceigall India Releases FY26 Audited Results Investor Presentation
May 7, 2026
Ceigall India Limited has released an investor presentation detailing its audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026. The presentation has been filed with both BSE and NSE in compliance...
Ceigall Subsidiary Signs 15 PPAs for 130 MW Solar Project in Madhya Pradesh
Apr 2, 2026
Ceigall Green Energy MP Limited, a wholly owned subsidiary of Ceigall India Limited, has executed 15 long-term power purchase agreements with Madhya Pradesh Power Management Company Limited for a total solar capacity of 130 MW under the Surya Mitr...
Ceigall India Emerges Lowest Bidder for Rs 207 Crore Urban Street Projects in Punjab
Mar 17, 2026
Ceigall India Limited has announced that its subsidiary, Ceigall Infra Projects Private Limited, has emerged as the lowest bidder for two Hybrid Annuity Model contracts from the Punjab Infrastructure Development Board. The projects involve constru...
Ceigall India Secures Provisional Start Date for ₹923 Crore Ludhiana Bypass Project
Mar 10, 2026
Ceigall India Limited announced that its subsidiary, Ceigall Southern Ludhiana Bypass Private Limited, has received confirmation of the provisional appointed date for a major highway project from the National Highways Authority of India. The proje...
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.