SYNOPSIS: One of the fastest-growing EPC companies with a JV emerged as the L1 bidder for three new MoRTH road projects in Arunachal Pradesh under EPC mode, with a combined bid value of about Rs. 1,628.62 crore.
During Thursday’s trading session, shares of one of the fastest-growing engineering, procurement and construction (EPC) companies are in focus on the stock exchanges, after emerging as the lowest bidder for three EPC orders worth around Rs. 1,628 crores from the Ministry of Road Transport and Highways (MoRTH).
With a market cap of Rs. 4,731.4 crores, shares of Ceigall India Limited are currently trading at Rs. 271.6 on BSE, compared to its previous closing price of Rs. 276.9. The stock has delivered positive returns of around 11 percent in one year, but has fallen by over 9 percent in the last one month.
News
According to the latest disclosure filed with the stock exchanges, Ceigall India Limited, in a joint venture with Sushee Infra & Mining Limited (SIML), has emerged as the L1 bidder for multiple road construction projects awarded by the Ministry of Road Transport and Highways (MoRTH). In the joint venture, Ceigall holds a 74 percent stake, while SIML holds 26 percent.
Earlier, the company had informed that the joint venture had secured the L1 position for the construction of a road stretch from km 0.000 to km 55.725 of the Huri-Taliha section of NH-913 (Frontier Highway) to Intermediate Lane standards on EPC mode in Arunachal Pradesh, with a bid value of Rs. 521 crore.
In addition to this, the joint venture has now also emerged as the L1 bidder for three more road construction tenders, amounting to a total of around Rs. 1,628.62 crores, issued by MoRTH.
These include the construction of a road from km 0.000 to km 78.38 of the Sarli-Huri section of NH-913 in Arunachal Pradesh, with a bid cost of Rs. 611.1 crore, and the construction of a road from km 55.725 to km 113.25 of the Huri-Taliha section of NH-913, with a bid value of Rs. 525 crore. The third project involves the construction of a road from km 160.75 to km 209.90 of the Huri-Taliha section of NH-913, with a bid cost of Rs. 492.52 crore.
All the projects will be executed under the Engineering, Procurement and Construction (EPC) mode and are domestic contracts. The projects carry construction periods ranging between 36 months and 48 months, along with a five-year maintenance period. Overall, the CIL-SIML joint venture emerged as the L1 bidder for four projects, with a combined bid value of approximately Rs. 2,149.62 crore.
Financials
Ceigall India reported a significant growth in revenue from operations, experiencing a year-on-year increase of over 19 percent, from Rs. 831 crores in Q3 FY25 to Rs. 991 crores in Q3 FY26. Likewise, its net profit increased during the same period from Rs. 71 crores to Rs. 72 crores, representing a marginal rise of nearly 1.4 percent YoY.
As of 31st December 2025, the company reported a total order book of Rs. 13,268 crores. A significant portion of the order book is concentrated in roads, highways, and flyover projects, which account for 64.2 percent of the total order book. This is followed by the renewable energy segment, contributing 23.9 percent, while industrial infrastructure projects make up 4.7 percent.
Other segments include transmission and distribution (2.9 percent), railways and metro projects (2.6 percent), bus terminals (1.1 percent), and tunnels (0.6 percent), with a negligible contribution from airport runway projects.
Ceigall India Limited is a construction company engaged in the business of providing Engineering, Procurement and Construction (EPC) services, with a focus on roads & highways, including expressways, elevated roads and tunnels.
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