This infrastructure construction company, focusing on specialized structural projects, like flyovers, elevated roads, railway overpasses, runways, and expressways jumped 2 percent after the company received an order from NHAI for Rs 923 crore.
Stock Performance
With a market capitalization of Rs 4,291.54 crore, Ceigall India Ltd jumped over 2 percent on Monday and made an intraday high of Rs 248.40 per share compared to its previous closing price of Rs 243.50 per share. The stock retraced and was trading at Rs 246.35 which is 1 percent higher than the previous closing price.
What Happened
Ceigall India Ltd has received a Letter of Award (LOA) dated March 13, 2025 for the development of a 6-lane Greenfield Southern Ludhiana Bypass as part of Ludhiana-Ajmer Economic Corridor on Hybrid Annuity Mode in Punjab.
The estimated project cost is Rs 864.97 crore, while the bid project cost, as per the LOA, is Rs 1,063.79 crore. Ceigall India won the project with a bid price of Rs 923 crore, and the work is expected to be completed within 24 months.
The project was previously awarded to the company by NHAI through an LOA dated June 2, 2022, with a bid project cost of Rs 702 crore. However, it was later revoked due to the non-availability of the construction site.
Company Overview
Ceigall India Limited is an infrastructure construction company, focusing on specialized structural projects like elevated roads, highways, flyovers, bridges, railway overbridges, tunnels, runways and expressways.
Financial Performance
According to the latest quarterly filing, Ceigall India reported a 20 percent increase in revenue from Rs 695 crore to Rs 831 crore in Q3 FY25. However, the net profits fell 9 percent from Rs 78 crore to Rs 71 crore during the same period.
Order Book Analysis
Ceigall India’s total order book stands at Rs 11,703 crore as on Dec 31, 2024. Approximately 80 percent of these orders are tied up with the National Highways Authority India (NHAI). The company has 22 ongoing projects including 14 EPC, 1 BOT, and 7 HAM projects.
Written by Shwetha Sairam
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