Synopsis:
A major EPC player secured a large highway project in Madhya Pradesh, boosting investor interest as markets reacted to its strengthening order pipeline and improving visibility in government-backed infrastructure development.
A leading EPC stock came into focus after the company announced that its subsidiary emerged as the L1 bidder for a major hybrid annuity highway project in Madhya Pradesh.
Ceigall India Ltd, with a market cap of Rs. 4,252.34 crore, opened at Rs. 235.70 and touched an intraday high of Rs. 247 compared to the previous close of Rs. 235.50. This reflects a rise of 4.89 percent.
What’s the News?
Ceigall Infra Projects Private Limited, a wholly owned subsidiary of the company, has emerged as the L1 bidder for a major tender issued on 28 November 2025 by the Madhya Pradesh Road Development Corporation Limited.
The work involves construction of the Indore-Ujjain Greenfield access-controlled four-lane highway with paved shoulders, spanning 48.10 kilometres from Pitra Parvat to Simhastha Bypass under the Hybrid Annuity Mode (HAM). The order carries a bid value of Rs. 1,089 crore, and the execution timeline is 24 months from the date of appointment. As of 30th September 2025, the company maintains a robust and diversified order book totalling Rs. 12,598 crores, spread across 26 projects.
Financial Snapshot – Q2FY26
Quarter-on-Quarter: Sales declined from Rs. 838 crore to Rs. 807 crore, down 3.7 percent. Operating profit increased from Rs. 109 crore to Rs. 114 crore, up 4.6 percent. Profit before tax rose from Rs. 67 crore to Rs. 77 crore, higher by 14.9 percent. Net profit improved from Rs. 51 crore to Rs. 56 crore, growing 9.8 percent.
Year-on-Year: Sales increased from Rs. 772 crore to Rs. 807 crore, up 4.5 percent. Operating profit declined from Rs. 123 crore to Rs. 114 crore, down 7.3 percent. Profit before tax fell from Rs. 88 crore to Rs. 77 crore, lower by 12.5 percent. Net profit decreased from Rs. 66 crore to Rs. 56 crore, down 15.1 percent.
About the Company
Ceigall India is an EPC infrastructure company engaged in constructing elevated corridors, flyovers, bridges, tunnels, highways, expressways, and airport runways. Its core operations span EPC contracts and hybrid annuity model (HAM) projects across India’s transportation network.
Written by -Manan Gangwar
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