Synopsis: Small-Cap stock rises 2% after its subsidiary, Ceigall Infra Projects Pvt Ltd, won the ₹603 crore L1 bid from the National Highways Authority of India to build a 10.3 km, 6-lane NH205A spur to the Zirakpur Bypass in Punjab, with 18 months for construction and 15 years for maintenance.
The shares of one of India’s prominent company, which specialises in structural projects including elevated roads, flyovers, bridges, railway overbridges, tunnels, highways, expressways, and runways, are in the spotlight after securing an order from the National Highways Authority of India.
With a market capitalization of Rs. 4,606.85 crores in the day’s trade, the shares of Ceigall India Ltd rose by 1.93 percent, reaching a high of Rs. 275.90 per share compared to its previous closing price of Rs. 270.65 per share.
What Happened
Ceigall Infra Projects Private Limited (CIPPL), a wholly owned subsidiary of Ceigall India Limited, has been selected as the L1 bidder for a Rs. 603 crore Hybrid Annuity Mode project by the National Highways Authority of India.
The project involves constructing a 10.3 km, 6-lane access-controlled spur from Ambala–Chandigarh NH205A to Zirakpur Bypass in Punjab, with an 18-month construction period and 15-year operation and maintenance term.
Financials & Others
The company’s revenue rose by 19.34 percent from Rs. 831 crores in December 2024 to Rs. 991 crores in December 2025. Meanwhile, Net profit rose from Rs. 71 crores to Rs. 72 crores in the same period.
The company demonstrates a strong financial performance, reflected in its solid return on equity (ROE) of 20.9% and a three-year average ROE of 28.5%. This indicates efficient use of shareholders’ funds to generate profits, highlighting management’s ability to create value consistently. A return on capital employed (ROCE) of 19.4% further underscores the company’s effectiveness in utilising its capital to achieve high returns.
Additionally, the company maintains a moderate debt-to-equity ratio of 0.69, suggesting a balanced approach to leveraging debt without overexposing the business to financial risk. The PEG ratio of 0.56 indicates the stock may be undervalued relative to its growth prospects, making it an attractive opportunity for long-term investors.
Ceigall India Ltd is one of India’s leading players in the infrastructure sector, specializing in Engineering, Procurement, and Construction (EPC) projects. With a proven track record of executing complex projects, it has delivered highways, expressways, bridges, flyovers, and urban transportation systems with excellence. The firm consistently invests in advanced technologies, modern construction methodologies, and comprehensive training programs to ensure operational efficiency and superior project execution.
Its portfolio spans a diverse range of infrastructure projects, including elevated roads, highways, flyovers and bridges, rail over bridges, tunnels, airports, metro systems, renewable energy, transmission and distribution networks, and industrial infrastructure. Over the years, the company has completed 37 major projects, constructing over 1,974 lane kilometers and completing 2,159 lane kilometers of O&M projects across 12 states in India.
The order book grew from Rs. 63,461 million in FY22 to Rs. 1,08,062 million in FY25, representing a robust compound annual growth rate (CAGR) of 19 percent over the three years. This reflects consistent and strong business expansion during FY22–FY25.
Ceigall India Ltd is proud to have a distinguished list of marquee clients, including the National Highways Authority of India (NHAI), the Ministry of Road Transport and Highways, and the GMADA. The company also works closely with the Public Works Department in Punjab, IRCON International Limited, and the Delhi Metro.
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