Synopsis A construction firm lands two back-to-back battery storage contracts from Punjab’s state power utility, marking a clear pivot toward the energy transition space.
India’s push for grid-scale energy storage is opening new doors for infrastructure companies that have traditionally built roads and bridges. One such firm is now stepping into the battery storage segment in a meaningful way, winning not one but two large contracts from a state power utility within a span of two days – a signal of both its expanding ambitions and the accelerating pace of energy storage procurement in the country.
With a market cap of Rs. 6,186 Crore, the shares of Ceigall India Ltd. are trading at a price of Rs. 354 per share i.e. 1.14% up from its previous closing price of Rs. 350. It currently trades at P/E of 19.8.
Ceigall India Bags Twin BESS Orders Worth ₹375 Crore from PSPCL
Ceigall India Limited has secured two standalone Battery Energy Storage System (BESS) orders from Punjab State Power Corporation Limited (PSPCL), with a combined project cost of approximately Rs. 375 crore. The first order covers the setting up of a 100 MW BESS facility, with a project cost of about Rs. 250 crore. The second order is for a 50 MW BESS plan, valued at approximately Rs. 125 crore. Both contracts were awarded through tariff-based global competitive bidding via e-reverse auction.
The tariff structure differs between the two orders. The 100 MW project carries a monthly capacity tariff of ₹3,44,000 per MW per month, while the 50 MW project is priced at Rs. 2.99 per kWh. Under both contracts, Ceigall is required to complete construction within 18 months from the date of award, after which it will operate, maintain, and supply power under a long-term Battery Energy Storage Purchase Agreement (BESPA) for 12 years from the scheduled commercial operation date.
These two wins are part of a growing energy segment within Ceigall’s order book. The company’s BESS-focused order book currently stands at Rs. 1,487.5 Crore even as its overall order book remains robust at Rs.18,554.3 Crore as of March 31, 2026. The dual PSPCL contracts will add further depth to the energy storage pipeline, diversifying the company’s revenue mix beyond its traditional highways and infrastructure business.
For investors, the back-to-back wins from the same state utility carry strategic weight. PSPCL’s repeated selection of Ceigall across two separate tenders suggests growing confidence in the company’s execution capability in the BESS space – a segment that is expected to see significant procurement activity across Indian states in the coming years as grid balancing requirements intensify.
About the Company and Financials
Ceigall India is an infrastructure engineering, procurement, and construction (EPC) company primarily engaged in building roads, highways, flyovers, bridges, tunnels, and other large-scale infrastructure projects across India. The company works with government bodies such as NHAI, MoRTH, and state authorities, focusing on transportation infrastructure development. In recent years, Ceigall India has also expanded into emerging segments like renewable energy and battery energy storage systems (BESS), strengthening its presence in the broader infrastructure and energy transition space.
Ceigall India posted strong standalone numbers for Q4 FY26, with revenue from operations rising 30.5% year-on-year to ₹1,294 crore. EBITDA grew to ₹183 crore at a margin of 14.1%, up from 11.0% in Q4 FY25. PAT came in at ₹119 crore, reflecting a margin of 9.2%. For the full year FY26, revenue stood at ₹3,869 crore, up 14.3%, while PAT rose to ₹305 crore against ₹270 crore in FY25.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Infra stock jumps after securing ₹375 Cr order for Dual Battery Energy Storage appeared first on Trade Brains.