Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Ceigall India Ltd

CEIGALL
Construction - Civil/Turnkey

Ceigall India Ltd's price has outrun its earnings. +41.2% in a year against EPS +6.0% — the market is paying now for delivery later.

The sharpest disagreement: profits are rising, but only −91% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a confirmed uptrend (30 weeks in) while the P/E sits at the 88th percentile of its own 2-year range. Underneath, the last four quarters read improving — profit +25.5% year on year, and −91% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Turning around
partial read
Price
₹380
+41.2% 1Y
P/E
20.6×
88th pctile
of its own 2-year range
Revenue (Jun 26)
₹970 Cr
+15.8% YoY
Profit (Jun 26)
₹64.0 Cr
+25.5% YoY
Operating margin
15.0%
+2.0 pp YoY
ROCE
17%
FY26
Cash conversion
−91%
of profit, last 3 FY
Withheld from this page: Part of this page is deliberately not drawn: its two data sources disagree by up to 3.3% on reported income across 12 comparable periods, so nothing from the second source is placed here — the quarterly PEG curve, the quarterly return curves, the annual return-on-invested-capital overlay, the total-debt and debt-to-equity series and the F-score and the return-on-invested-capital reading are absent for that reason. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Ceigall India Ltd trades at ₹380, in a confirmed uptrend and 30 weeks into that stage. That is +18.5% against its own 200-day average. It sits at 93% of a 52-week range of ₹233 to ₹392. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.

Today the stock is in a confirmed uptrend — week 30 of stage 2, confirmed. At ₹380 it trades +18.5% versus its 200-day average and sits at 93% of its 52-week range (₹233–₹392).

Sep 26: ₹380 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 2-year window.
+18.5% versus the 200-day line, week 30 of stage 2
Price50-day avg200-day avg
S1S4S2₹414₹366₹317₹268₹219₹380₹321Aug 24Feb 25Sep 25Apr 26Sep 26
S1S4S2₹414₹366₹317₹268₹219₹380₹321Aug 24Sep 25Sep 26
Beating or trailing, week by week since 2024 Each cell is one week from 2024 to now (116 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Aug 24Sep 26

Against the market, two honest reads. Cumulative: over the last 2.1 years the stock moved −4% while the NIFTY 500 moved +1% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Ceigall India Ltd trades at 20.6× P/E, at the pricey end of its own range (88th percentile). Its long-run median P/E is 17.8×, measured across 2.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 20.6× is at the pricey end of its own range (88th percentile), against a long-run median of 17.8× measured over 2.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 20.6× vs a 17.8× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 2.1-year window; loss-period spikes above 22× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (88th percentile)
P/EMedianEPS (TTM) (quarterly)
22.7×₹22.619.8×₹16.917.0×₹11.314.2×₹5.611.3×₹0.0×20.60×₹19Aug 24Feb 25Sep 25Apr 26Sep 26
22.7×₹22.619.8×₹16.917.0×₹11.314.2×₹5.611.3×₹0.0×20.60×₹19Aug 24Sep 25Sep 26
P/E
20.6×
88th percentile of 2y

🚨 Why the multiple sits where it does: over the past year annual EPS moved +6.0% against a +41.2% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 3.3% on reported income across 12 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, Ceigall India Ltd was paying for profit growth of about 12.0% a year. Profit itself has compounded 23.1% a year over the past 6 years. Today the market pays 20.6× P/E, the 88th percentile of its own 2-year range.

What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is below what this company has actually delivered.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: Turning around

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Ceigall India Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −33.3% at the trough to +25.5% off a 4-quarter-old trough (single-quarter readings), ROCE slipping at 17.0%. The read is built from 9 quarters across 3 curves, on partial evidence.

Growth, year by year: revenue +17.0% in FY26, profit +7.7% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
88%96%67%44%46%−8.3%25%−61%4.4%−113%%%17%7.7%FY20FY23FY26
88%96%67%44%46%−8.3%25%−61%4.4%−113%%%17%7.7%FY20FY23FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit accelerating
RevenueProfitEPS
40%88%30%55%20%22%9.3%−11%−0.9%−44%%%15.8%25.5%19.6%Sep 23Dec 24Jun 26
40%88%30%55%20%22%9.3%−11%−0.9%−44%%%15.8%25.5%19.6%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
31%27%24%20%16%%17%FY23FY24FY26
31%27%24%20%16%%17%FY23FY24FY26
Revenue growth
Rising
latest +15.8% · span +1.9% to +30.0%
Profit growth
Flat
latest +25.5% · span −34.6% to +77.3%
ROCE
Falling
latest 17.0% · span 17.0%–30.0%

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+17.0%+24.8%+35.7%
Profit+7.7%+22.8%+22.5%
EPS+6.0%−5.6%−56.5%
Share price+41.2%
Revenue YoY (Jun 26)
+15.8%
latest quarter vs a year ago
Profit YoY (Jun 26)
+25.5%
latest quarter vs a year ago
Revenue 10y
31.1%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

56.4/100 — rank 5 of 13 in Construction - Civil/Turnkey · 75% evidence confidence

Ceigall India Ltd scores 56.4 out of 100 against the 13 companies it is compared with in Construction - Civil/Turnkey, ranking 5. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 19.6 + 13.9 + 10.2 + 12.7 = 56.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Ceigall India Ltd reported ₹970 Cr of revenue in the Jun 26 quarter, +15.8% year on year. That is the 9th straight quarter of year-on-year growth. Over 6 years it has compounded at 31.1% a year. The last full year, FY26, came in at ₹4,022 Cr. The last four reported quarters add to ₹4,155 Cr.

FY26 revenue came in at ₹4,022 Cr (+17.0% on the year), capping 6 years at 31.1% compound. The latest quarter (Jun 26) printed ₹970 Cr, +15.8% year on year — the 9th consecutive quarter of year-over-year growth.

FY26 revenue ₹4,022 Cr (+17.0% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
31.1% a year over 6 years
RevenueYoY growth
4.3k88%3.3k67%2.2k46%1.1k25%04.4%₹ Cr%₹4,02217%FY20FY23FY26
4.3k88%3.3k67%2.2k46%1.1k25%04.4%₹ Cr%₹4,02217%FY20FY23FY26
Jun 26: ₹970 Cr (+15.8% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
9th straight quarter of growth
Revenue (quarterly)YoY growth
1.5k40%1.1k30%74920%3749.3%0−0.9%₹ Cr%₹97015.8%Sep 23Dec 24Jun 26
1.5k40%1.1k30%74920%3749.3%0−0.9%₹ Cr%₹97015.8%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +19.2% growth against the decade's 31.1% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +20.3% over the last 4 quarters against +13.9%/yr over the last 8 — accelerating; TTM profit +23.5% vs −2.5%/yr — accelerating.

07 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Ceigall India Ltd's operating margin is 15.0% in the Jun 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 14.0% to 18.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 15.0%, +2.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 14.0%–18.0%.

Why the margin moved: operating margin went +1.8 pp year on year while gross margin went +1.9 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 15.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 7-year window.
within a 14.0–18.0% band over 7 years
operating marginYoY change (pp)
18%3.4%17%1.9%16%0.5%15%−0.9%14%−2.4%%%15%0%FY20FY23FY26
18%3.4%17%1.9%16%0.5%15%−0.9%14%−2.4%%%15%0%FY20FY23FY26
Jun 26: 15.0% operating margin (+2.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
21%5.8%19%2.9%17%0.0%14%−2.9%12%−5.8%%%15%2%Sep 23Dec 24Jun 26
21%5.8%19%2.9%17%0.0%14%−2.9%12%−5.8%%%15%2%Sep 23Dec 24Jun 26
08 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Ceigall India Ltd earned ₹64.0 Cr of net profit in the Jun 26 quarter, +25.5% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹309 Cr. The 6-year compound rate is 23.1%. That is 6.6% of the quarter's revenue. The same quarter a year earlier earned ₹51.0 Cr.

Jun 26 profit was ₹64.0 Cr, +25.5% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹309 Cr (+7.7%), and the 6-year compound rate is 23.1%.

FY26 profit ₹309 Cr (+7.7% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
23.1% a year over 6 years
Net profitYoY growth
33489%25064%16738%8313%0−13%₹ Cr%₹3097.7%FY20FY23FY26
33489%25064%16738%8313%0−13%₹ Cr%₹3097.7%FY20FY23FY26
Jun 26: ₹64.0 Cr (+25.5% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
3rd straight quarter of growth
Net profit (quarterly)YoY growth
13988%10455%7022%35−11%0−44%₹ Cr%₹6425.5%Sep 23Dec 24Jun 26
13988%10455%7022%35−11%0−44%₹ Cr%₹6425.5%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +15.8% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +22.7% vs revenue +19.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

09 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −91% of Ceigall India Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−91.0 Cr of operating cash against ₹309 Cr of profit. After ₹45.0 Cr of capital spending, ₹−136 Cr was left as free cash.

FY26: operating cash of ₹−91.0 Cr against reported profit of ₹309 Cr, leaving free cash of ₹−136 Cr after ₹45.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −91% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−91.0 Cr vs profit ₹309 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 7-year window, annual resolution.
−91% of 3-year profit arrived as cash
Operating cashNet profitFree cash
385111−163−437−711₹ Cr₹−91₹309₹−136FY20FY23FY26
385111−163−437−711₹ Cr₹−91₹309₹−136FY20FY23FY26
FY26: CFO = −29% of profit (three-year rate −91%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
131%47%−37%−120%−204%%−29%FY20FY23FY26
131%47%−37%−120%−204%%−29%FY20FY23FY26

🚨 Why conversion sits at −91%: the cash cycle tightened 84 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 1.5× depreciation over three years, so the next section's job is to check what that build-out is buying.

10 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Ceigall India Ltd's cash conversion cycle runs −95 days in FY26, down from −11 days in FY21. Capital spending ran ₹267 Cr over the last 3 years. At FY26 sales of ₹4,022 Cr each day of that cycle holds about ₹11.0 Cr, so roughly ₹−1,047 Cr sits inside the business at any moment.

FY26: debtors at 58 days, inventory at 11 days — roughly 0.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −95 days, tighter than FY21's −11.

The full loop: cash goes out to suppliers and production on day 0; stock waits 11 days to sell; customers pay about 58 days after that; and suppliers themselves are paid at 164 days — netting out to the −95-day cycle.

In money terms: at FY26 sales of ₹4,022 Cr, each day of the cycle holds about ₹11.0 Cr — so the −95-day loop keeps roughly ₹−1,047 Cr sitting inside the business at any moment.

FY26: a −95-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 7-year window.
−84 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
29317455−65−184days−95d11d58d164dFY20FY21FY23FY24FY26
29317455−65−184days−95d11d58d164dFY20FY23FY26

On the investment side: capital spending of ₹267 Cr over the last 3 fiscal years against ₹173 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹4.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹45.0 Cr, work-in-progress ₹4.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
17212986430₹ Cr₹45₹4FY21FY22FY23FY24FY26
17212986430₹ Cr₹45₹4FY21FY23FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

11 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Ceigall India Ltd earns a ROCE of 17% in FY26. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 7.7% net margin on 0.73× asset turns.

FY26 ROCE is 17%.

Why the return is what it is — the wiring (FY26): 7.7% net margin × 0.73× asset turns × 2.58× balance-sheet leverage ≈ 14.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

FY26: ROCE 17% Return on capital employed by fiscal year, % (line). 6-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEWACC
60%47%34%21%8.5%%17%FY21FY22FY23FY24FY26
60%47%34%21%8.5%%17%FY21FY23FY26

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 3.3% on reported income across 12 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Ceigall India Ltd carries ₹1,311 Cr of borrowings against ₹2,138 Cr of equity in FY26, a debt-to-equity of 0.61. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹30.0 Cr to ₹1,311 Cr. Capital spending ran ₹267 Cr across the last 3 of those years.

FY26: borrowings of ₹1,311 Cr against equity of ₹2,138 Cr — a debt-to-equity of 0.61. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹30.0 Cr to ₹1,311 Cr while capital spending ran ₹267 Cr in just the last 3 — part of the build-out is riding on borrowed money.

FY26: borrowings ₹1,311 Cr at 0.61× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 7-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
the debt trajectory
BorrowingsDebt-to-equity
1.5k1.3×1.1k1.0×7540.7×3770.3×00.0×₹ Cr×₹1,3110.61×FY20FY21FY23FY24FY26
1.5k1.3×1.1k1.0×7540.7×3770.3×00.0×₹ Cr×₹1,3110.61×FY20FY23FY26

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 3.3% on reported income across 12 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

13 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 3.2 points of Ceigall India Ltd over 7 quarters, the biggest move on the register. That takes domestic institutions to 3.6% of the company. Foreign institutions moved +0.9 points over the same window, to 3.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −3.2 points over 7 quarters to 3.6%; Foreign institutions: +0.9 points over 7 quarters to 3.9%; Promoters: +0.0 points over 7 quarters to 82.0%.

🚨 Why the register moved: domestic institutions drove it (−3.2 points), absorbed on the other side by foreign institutions (+0.9 points) — distribution into the market’s bid.

Fiscal-year ends: promoters +0.0 pts from Mar 25 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 2 year-ends held.
PromotersForeign inst.Domestic inst.Public
88%65%42%18%−5.0%%82.0%3.1%5.4%9.4%Mar 25Mar 26
88%65%42%18%−5.0%%82.0%3.1%5.4%9.4%Mar 25Mar 26
Domestic institutions cut 3.2 points over 7 quarters Shareholding by holder class, % of the company, quarterly, last 8 quarters.
PromotersForeign inst.Domestic inst.Public
88%65%42%18%−5.0%%82.0%3.9%3.6%10.4%Sep 24Jun 25Jun 26
88%65%42%18%−5.0%%82.0%3.9%3.6%10.4%Sep 24Jun 25Jun 26
14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Ceigall India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

15 · Related companies · Construction - Civil/Turnkey
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1SRM Contractors LtdSRM 65.4/100Favorable setup80% evidence ASLEEP 29.1/35 Revenue 75.5% · PAT 87.3% · OPM change 5 pp 95% evidence 20.1/25 ROCE 37.1% · OPM 19% 95% evidence 11.3/20 P/E 8.5× · PEG — 15% evidence 4.9/20 RS sector -20.7% · RS bench -10.4% · 1Y -11.6%2 of 12 weeks ahead 100% evidence
Exact sum: 29.1 + 20.1 + 11.3 + 4.9 = 65.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -20.7% and the one-year return is -11.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
2Effwa Infra & Research LtdEFFWA 62.9/100Thin evidence · provisional56% evidence LEADER 16.8/35 Revenue — · PAT — · OPM change -2 pp 26% evidence 19.9/25 ROCE 29.3% · OPM 16% 95% evidence 10.0/20 P/E 30.3× · PEG — 15% evidence 16.2/20 RS sector 28.6% · RS bench 44.3% · 1Y 68.4%12 of 12 weeks ahead 100% evidence
Exact sum: 16.8 + 19.9 + 10 + 16.2 = 62.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3Brahmaputra Infrastructure Ltd535693 62.7/100Mixed-positive evidence63% evidence 22.9/35 Revenue 50.4% · PAT 100% · OPM change -8 pp 83% evidence 14.8/25 ROCE 18.2% · OPM 22% 76% evidence 13.5/20 P/E 8× · PEG — 50% evidence 11.5/20 RS sector — · RS bench 20.3% · 1Y — 25% evidence
Exact sum: 22.9 + 14.8 + 13.5 + 11.5 = 62.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Gayatri Projects LtdGAYAPROJ 61.2/100Mixed-positive evidence73% evidence LEADER 27.0/35 Revenue 100% · PAT 100% · OPM change 6 pp 71% evidence 6.1/25 ROCE 7% · OPM 18% 95% evidence 12.4/20 P/E 9.7× · PEG — 50% evidence 15.7/20 RS sector 12.3% · RS bench 68.3% · 1Y 208%9 of 12 weeks ahead 70% evidence
Exact sum: 27 + 6.1 + 12.4 + 15.7 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Ceigall India Ltdthis pageCEIGALL 56.4/100Mixed-positive evidence75% evidence TURNING 19.6/35 Revenue 20.3% · PAT 23.5% · OPM change 2 pp 95% evidence 13.9/25 ROCE 17.3% · OPM 15% 76% evidence 10.2/20 P/E 20.6× · PEG — 15% evidence 12.7/20 RS sector 13.7% · RS bench 27.9% · 1Y 38.8%4 of 12 weeks ahead 100% evidence
Exact sum: 19.6 + 13.9 + 10.2 + 12.7 = 56.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Sathlokhar Synergys E&C Global LtdSSEGL 51.5/100Thin evidence · provisional57% evidence TURNING 16.8/35 Revenue — · PAT — · OPM change 4 pp 45% evidence 16.5/25 ROCE 36.3% · OPM 15% 95% evidence 10.8/20 P/E 10.8× · PEG — 15% evidence 7.4/20 RS sector -31.4% · RS bench 7.8% · 1Y -8.5%3 of 10 weeks ahead 70% evidence
Exact sum: 16.8 + 16.5 + 10.8 + 7.4 = 51.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7B.L.Kashyap & Sons LtdBLKASHYAP 43.6/100Mixed-negative evidence74% evidence TURNING 17.4/35 Revenue 21.9% · PAT -80% · OPM change 0 pp 95% evidence 8.4/25 ROCE 12.6% · OPM 8% 95% evidence 9.8/20 P/E 33× · PEG — 15% evidence 8.0/20 RS sector -22.6% · RS bench 1.5% · 1Y -21.6%2 of 10 weeks ahead 70% evidence
Exact sum: 17.4 + 8.4 + 9.8 + 8 = 43.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Interise TrustINTERISE 43.3/100Thin evidence · provisional55% evidence 16.2/35 Revenue 0.8% · PAT 100% · OPM change -3 pp 95% evidence 8.6/25 ROCE 10.8% · OPM 72% 76% evidence 8.5/20 P/E 247× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y — 0% evidence
Exact sum: 16.2 + 8.6 + 8.5 + 10 = 43.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9Denta Water & Infra Solutions LtdDENTA 42.7/100Mixed-negative evidence74% evidence TURNING 10.6/35 Revenue 10% · PAT -10.2% · OPM change -11 pp 95% evidence 15.7/25 ROCE 18.8% · OPM 22% 95% evidence 10.5/20 P/E 14.4× · PEG — 15% evidence 5.9/20 RS sector -26.8% · RS bench -7.6% · 1Y -30.9%9 of 10 weeks ahead 70% evidence
Exact sum: 10.6 + 15.7 + 10.5 + 5.9 = 42.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10A B Infrabuild LtdABINFRA 35.6/100Mixed-negative evidence80% evidence TURNING 9.9/35 Revenue 6.8% · PAT -5.5% · OPM change -2 pp 95% evidence 11.2/25 ROCE 15.2% · OPM 13.9% 95% evidence 9.5/20 P/E 37.1× · PEG — 15% evidence 5.0/20 RS sector -36.5% · RS bench -27.4% · 1Y -48.4%2 of 12 weeks ahead 100% evidence
Exact sum: 9.9 + 11.2 + 9.5 + 5 = 35.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Afcons Infrastructure LtdAFCONS 30.4/100Adverse evidence87% evidence BASING 5.4/35 Revenue -11.9% · PAT -73.1% · OPM change -4 pp 100% evidence 6.8/25 ROCE 13.9% · OPM 9% 100% evidence 13.6/20 P/E 45.6× · PEG 0.82 65% evidence 4.6/20 RS sector -30% · RS bench -25.1% · 1Y -42.2%0 of 10 weeks ahead 70% evidence
Exact sum: 5.4 + 6.8 + 13.6 + 4.6 = 30.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
12HRS Aluglaze Ltd544656 53.6/100Thin evidence · provisional18% evidence 17.9/35 Revenue — · PAT — · OPM change — 3% evidence 17.0/25 ROCE 20.2% · OPM 32% 57% evidence 8.7/20 P/E 105× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —2 of 2 weeks ahead to 2026-03-29 0% evidence
Exact sum: 17.9 + 17 + 8.7 + 10 = 53.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13GHV Infra Projects Ltd505504 53.0/100Thin evidence · provisional37% evidence BREAKING OUT 18.0/35 Revenue — · PAT — · OPM change 0 pp 17% evidence 12.7/25 ROCE — · OPM 11.1% 30% evidence 9.3/20 P/E 44.8× · PEG — 15% evidence 13.0/20 RS sector -8.5% · RS bench 3.7% · 1Y -1.2%5 of 12 weeks ahead 100% evidence
Exact sum: 18 + 12.7 + 9.3 + 13 = 53 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Ceigall India Ltd's share price today?

Ceigall India Ltd trades at ₹380, +41.2% over the past year. The company is valued at ₹6,627 Cr. The stock sits at 93% of its 52-week range of ₹233–₹392, +18.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 30 weeks in. — as of 11 September 2026.

What were Ceigall India Ltd's latest quarterly results?

Ceigall India Ltd reported revenue of ₹970 Cr and net profit of ₹64.0 Cr for the Jun 26 quarter. Revenue rose 15.8% and profit rose 25.5% year on year. Earnings per share were ₹3.52. The operating margin was 15.0%, 2.0 pp higher than a year earlier. — as of 11 September 2026.

What is Ceigall India Ltd's revenue?

Ceigall India Ltd reported revenue of ₹970 Cr in the Jun 26 quarter, +15.8% year on year. For the full FY26 fiscal year, revenue was ₹4,022 Cr (+17.0%). Over the last 6 years revenue compounded at 31.1% a year. — as of 11 September 2026.

What is Ceigall India Ltd's profit?

Ceigall India Ltd earned ₹64.0 Cr of net profit in the Jun 26 quarter, +25.5% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹309 Cr. The operating margin ran 15.0% in the latest quarter. — as of 11 September 2026.

What is Ceigall India Ltd's market cap?

Ceigall India Ltd's market capitalisation is ₹6,627 Cr at a share price of ₹380. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Ceigall India Ltd's P/E ratio?

Ceigall India Ltd trades at a P/E of 20.6×, at the 88th percentile of its own 2-year range, against a long-run median of 17.8×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Ceigall India Ltd pay a dividend?

Yes — Ceigall India Ltd's dividend payout was 3% of profit in FY26, and it recorded a payout in 2 of its last 7 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Ceigall India Ltd overvalued?

On its own history, Ceigall India Ltd looks expensive: its P/E of 20.6× sits at the 88th percentile of its 2-year range (long-run median 17.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is Ceigall India Ltd growing?

Yes — Ceigall India Ltd is growing: latest-quarter revenue +15.8% year on year, profit +25.5%, and the margin +2.0 pp at 15.0%. The 6-year compound rates are 31.1% (revenue) and 23.1% (profit). The earnings engine currently reads: improving — as of 11 September 2026.

How is Ceigall India Ltd performing?

Ceigall India Ltd is in a confirmed uptrend, 30 weeks in. Its latest quarter's revenue rose 15.8% and profit rose 25.5% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is Ceigall India Ltd in?

Turning around — profit growth swung from −33.3% at the trough to +25.5% off a 4-quarter-old trough (single-quarter readings), ROCE slipping at 17.0%. The read comes from the last 12 quarters of growth (revenue growth +15.8% latest, profit growth +25.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is Ceigall India Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 30 of stage 2), trading +18.5% versus its 200-day average and at 93% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.

Is Ceigall India Ltd beating the market?

On recent form, yes — Ceigall India Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 2.1 years the stock moved −4% against the NIFTY 500's +1% — behind the index over the full window. — as of 11 September 2026.

Will Ceigall India Ltd's share price go up?

This page publishes no price forecast for Ceigall India Ltd. What it measures instead: the share price is ₹380, the price is in a confirmed uptrend 30 weeks in. Its P/E of 20.6× sits at the 88th percentile of its own 2-year range. — as of 11 September 2026.

Who owns Ceigall India Ltd?

Promoters hold 82.0% of Ceigall India Ltd, foreign institutions 3.9%, domestic institutions 3.6% and the public 10.4% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 3.2 points over 7 quarters. — as of 11 September 2026.

Does Ceigall India Ltd have too much debt?

It is moderate — Ceigall India Ltd's debt-to-equity is 0.61, and operating profit covers the interest bill 4×. FY26 borrowings were ₹1,311 Cr against equity of ₹2,138 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.

What is Ceigall India Ltd's capex?

Ceigall India Ltd spent ₹267 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹45.0 Cr, with ₹4.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Ceigall India Ltd's cash flow?

Ceigall India Ltd consumed ₹91.0 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−136 Cr). Operating cash was negative while the company reported a profit of ₹309 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Ceigall India Ltd's profit real cash?

No — operating cash was negative over the last 3 fiscal years: Ceigall India Ltd consumed cash while reporting profit. In FY26, operating cash was ₹−91.0 Cr against reported profit of ₹309 Cr. Cash-flow resolution is annual — as of 11 September 2026.

Where is Ceigall India Ltd in its business cycle?

Ceigall India Ltd's FY26 operating margin was 15.0%, against a 7-year band of 14.0%–18.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 15.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What growth does Ceigall India Ltd's price assume?

At its price on 13 June 2026, Ceigall India Ltd was priced for profit growth of about 12.0% a year. Profit itself has compounded 23.1% a year over the past 6 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.

What could break the Ceigall India Ltd story?

The sharpest disagreement: profits are rising, but only −91% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is Ceigall India Ltd a stock worth studying right now?

This is not investment advice. The machine read: Ceigall India Ltd's price has outrun its earnings. +41.2% in a year against EPS +6.0% — the market is paying now for delivery later. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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