# Ceigall India share price today (Ceigall India Ltd, NSE: CEIGALL)

> Ceigall India share price today: ₹397.20 at the NSE close on 3 November 2026, up 57.9% in a year. Ceigall India (NSE: CEIGALL) is worth ₹6,922 crore, trades at a P/E of 21.5 and has closed between ₹232.91 and ₹397.20 over the past 52 weeks. > Ceigall India Ltd's share price has risen faster than its earnings: +57.9% in a year, against +6.0% for earnings per share. CEIGALL · Construction - Civil/Turnkey · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ceigall-india-ltd

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## Key numbers

- Business trend: Turning around, from fewer quarters than usual
- Price: ₹397.20 (+57.9% in a year)
- P/E: 21.5× (higher than 88% of the last 2.2 years)
- Revenue (Jun 2026): ₹970 Cr (+15.8% on a year ago)
- Profit (Jun 2026): ₹64.0 Cr (+25.5% on a year ago)
- Operating margin: 15.0% (+2.0 points on a year ago)
- ROCE: 17%, FY26
- Profit that came in as cash: −91%, last 3 years

The main question: profits are rising, but only −91% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Ceigall India share price today? Ceigall India Ltd's share price was ₹397.20 at the close on 3 November 2026. It has been rising for 37 weeks. That is 17.7% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹233 and ₹397, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 7 weeks in a row. Over the last 2.2 years the share price moved +0% while the NIFTY 500 moved −3%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Ceigall India this quarter? One change stood out: revenue up on a year earlier for 9 quarters in a row (every quarter we can compare). 1. Revenue up on a year earlier for 9 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹970 crore, +15.8% on a year earlier. Why: Revenue rose because the company got more work done on its projects. Next results: check whether the highway projects VRK 11/12 and Southern Ludhiana get past land issues and start adding to reported revenue. From the earnings call on 10 Aug 2026. ## What are Ceigall India's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Ceigall India reported revenue of ₹970 crore, up 15.8% from ₹838 crore a year earlier, and a profit of ₹64.0 crore, up 25.5% from ₹51.0 crore. ### Ceigall India results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹970 crore | ₹838 crore | +15.8% |
| Profit | ₹64.0 crore | ₹51.0 crore | +25.5% |
| Earnings per share | ₹3.52 | ₹3.05 | +15.4% |
| Operating margin | 15.0% | 13.0% | +2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Ceigall India's management discussed these results on a call held on 10 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Ceigall India share price history? Ceigall India closed at ₹397.20 on 3 November 2026, up 57.9% from ₹251.50 a year earlier (31 October 2025). Its highest weekly close since August 2024 was ₹400.95 on 23 August 2024. ### Ceigall India share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹363.10 | +9.4% |
| 1 month ago · 1 Oct 2026 | ₹380.10 | +4.5% |
| 6 months ago · 30 Apr 2026 | ₹338.60 | +17.3% |
| 1 year ago · 31 Oct 2025 | ₹251.50 | +57.9% |
| Earliest weekly close in our records · 9 Aug 2024 | ₹397.05 | 0.0% |
| Highest weekly close since August 2024 · 23 Aug 2024 | ₹400.95 | −0.9% |
| Lowest weekly close since August 2024, also the 52-week low · 5 Dec 2025 | ₹232.91 | +70.5% |
| 52-week high (weekly close) · 3 Nov 2026 | ₹397.20 | 0.0% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (124 weekly closes from 9 August 2024 to 3 November 2026.)

## What is the latest news on Ceigall India? 3 Nov 2026: Ceigall India closed at ₹397.20, up 9.4% on the week and up 4.5% on the month. Our read, 10 Oct 2026: Project starts are translating order visibility into earnings, but cash collection and HAM sale receipts determine whether the expansion can finance itself. ### Earlier

- 11 Sep 2026: ex-date for a dividend of ₹0.50 a share. - 10 Aug 2026: Ceigall India held its results call for April to June 2026. Management guided: FY27 revenue growth at minimum 15%. - Results for April to June 2026: Revenue up 15.8% and profit up 25.5% on a year earlier. ### Our read of the business

April to June 2026: New project starts support growth; payment conditions still matter. (Our read after the April to June 2026 results, written 10 October 2026.)

## What dividend does Ceigall India pay? Ceigall India paid ₹0.50 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.13% at the ₹397.20 close on 3 November 2026. The last was a dividend of ₹0.50 a share, ex-date 11 September 2026. ### Ceigall India dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 11 Sep 2026 | ₹0.50 | Dividend |
| 23 Sep 2024 | ₹0.50 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. Ceigall India Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 7 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Ceigall India management say on the latest results call? On the call for April to June 2026, held on 10 August 2026, Ceigall India's management guided: FY27 revenue growth at minimum 15%. > “Our projects that are going to be completed will be sold; we are very clear about that.”
> Ramnik Sehgal, on the call for April to June 2026

### What management guided

- FY27 operating margin maintained at 11-12.5%. - FY27 order inflow of ₹6,000 crore; remaining inflow achievable during the year after close to ₹600 crore received. - FY27 VRK 11/12 execution planned at 20-25%; Bihar AD expected in Q3, Punjab by Q4, with work starting within 2-3 months after FC. - Ludhiana FY27 execution planned at least 15% because only 62% land is available. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/57944/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 10 August 2026.)

## What is the future of Ceigall India? What is changing in the business? The changes showing up in Ceigall India's own numbers are a bigger order book. It is too early to say whether they last. A bigger order book too early to call

Ceigall, a road and infrastructure builder, has won far more work than it planned. The order book (work won but not yet done) went from ₹12,598 crore (Sep 2025) to ₹13,295 crore (Dec 2025) to ₹18,554 crore (Mar 2026) and ₹18,568 crore (Jun 2026). FY26 orders won were ₹11,332 crore against a ₹5,000 crore goal. That backlog is now turning into sales: revenue grew over the same quarter a year earlier by 4.5% (Sep 2025, 807 vs 772), 19.3% (Dec 2025, 991 vs 831), 37.1% (Mar 2026, 1,387 vs 1,012) and 15.8% (Jun 2026, 970 vs 838). Management guides at least 15% revenue growth for FY27. Why it may last: The orders come mostly from government road, rail and power spending, which rises and falls with budgets and tender cycles; April to June 2026 orders already slowed to about ₹600 crore. The 4.8-times backlog gives two to three years of visibility, not a permanent change. What could be flattering it: A big headline order book that is executed slowly, at thin margins, or with the cash stuck with the government client (retention money, milestone billing, money tied up in road projects the company co-owns). Next check: Revenue for Sep 2026 grows at least 15% over Sep 2025 (807) with operating margin at or above 14%, and FY27 half-year orders move clearly past ₹600 crore toward the ₹6,000 crore goal. Quarter by quarter, 4 quarters

July to September 2025

A long monsoon slowed work. Revenue grew only 4.5% (807 vs 772) and operating profit (profit from the business before interest, depreciation and tax) fell from 123 to 114. Order book ₹12,598 crore; H1 orders won ₹3,747 crore. ✓ fact

From our notes of the call for July to September 2025: Order book stands at ₹12,598 crore across 26 projects. October to December 2025

Post-monsoon pick-up: revenue up 19.3% (991 vs 831) and operating profit up 13% (139 vs 123). Order book ₹13,295 crore, Q3 orders ₹1,403 crore. ✓ fact

From our notes of the call for October to December 2025: Total Order Book: ₹13,295 crore with exceptional portfolio diversification. January to March 2026

Best quarter of the year: revenue up 37.1% (1,387 vs 1,012), operating profit up 75% (224 vs 128). Q4 orders ₹6,014 crore; order book ₹18,554 crore, 4.8 times a year of sales. ✓ fact

From our notes of the call for January to March 2026: FY26 inflow of ₹11,332 crore exceeded annual guidance of ₹5,000 crore by 127%. April to June 2026

Execution held: revenue up 15.8% (970 vs 838) and operating profit up 31% (143 vs 109). New orders were thin (about ₹600 crore against a ₹6,000 crore year goal), so the order book was flat at ₹18,568 crore. Appointed dates (the government's go-ahead to start work) arrived for VRK 11, VRK 12 and Indore-Ujjain. ✓ fact

From our notes of the call for April to June 2026: We have already received close to 600 crore, and the rest is achievable during the year. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to April to June 2026, 10 October 2026.)

## What could change the Ceigall India story? What are the risks? Land or financial-close prerequisites prevent mobilisation after appointed dates, or execution fails to become billable. ### Each change stops working if

- Appointed-date conversion: Land or financial-close prerequisites prevent mobilisation after appointed dates, or execution fails to become billable. - Solar execution broadens revenue: Transmission or project readiness blocks mobilisation, or renewable execution displaces road work without adding attributable earnings. - HAM capital recycling: Disposal receipts arrive after equity commitments fall due or disposal economics fail to release usable capital. ### The main risks

- Debt-funded earnings: Accounting growth has not established operating cash generation. ⚠ estimate
- External prerequisites delay conversion: Land, appointed dates and transmission can delay revenue despite orders. ⚠ estimate
- Equity commitments outrun recycling: New project equity may fall due before disposal cash arrives. ⚠ estimate
- Moving goals and unresolved baselines: Execution progress coexists with changed goals and inconsistent explanations. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026.)

## What to watch in Ceigall India's next results? When Ceigall India reports July to September 2026, these are the 5 checks that show whether the story is still on course. First: Revenue for Sep 2026 grows at least 15% over Sep 2025 (807) with operating margin at or above 14%, and FY27 half-year orders move clearly past ₹600 crore toward the ₹6,000 crore goal. | What to check | Why |
| --- | --- |
| Revenue for Sep 2026 grows at least 15% over Sep 2025 (807) with operating margin at or above 14%, and FY27 half-year orders move clearly past ₹600 crore toward the ₹6,000 crore goal. | A bigger order book |
| HAM execution ramp, including VRK 11/12 and Southern Ludhiana land resolution - check milestone delivery and conversion into reported revenue. | From the call |
| Rewa transmission readiness and Morena mobilisation - check whether the external prerequisite clears and construction begins. | From the call |
| Later-quarter order-award cadence - check whether inflows accelerate toward the annual plan. | From the call |
| Commercial paper implementation - check issuance, pricing, tenor and working-capital use once the facility is activated. | From the call |

## Which stock lists is Ceigall India on? Ceigall India is on 3 of our India lists: Multibagger study list, Momentum stocks and 52 week high & low. - [Multibagger study list Study stage: middle](https://www.sectoralpha.in/multibagger-stocks-india)
- [Momentum stocks Market cap cr: 6836.193362378268](https://www.sectoralpha.in/momentum-stocks-india)
- [52 week high & low 52-week position: Near 52-week high](https://www.sectoralpha.in/52-week-high-stocks-india)

## Is Ceigall India profitable? Ceigall India Ltd earned ₹64.0 Cr of net profit in the Jun 2026 quarter, +25.5% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹309 Cr. Over 6 years profit has grown 23.1% a year on average. That is 6.6% of the quarter's revenue. The same quarter a year earlier earned ₹51.0 Cr. For the full year, FY26 profit was ₹309 Cr (+7.7% on the year before). Why profit moved: revenue changed +15.8% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +22.7% and revenue +19.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Ceigall India make, and is it growing? Ceigall India Ltd reported ₹970 Cr of revenue in the Jun 2026 quarter, +15.8% on the same quarter a year earlier. That is the 9th quarter in a row with growth on the year before. Over 6 years it has grown 31.1% a year on average. The last full year, FY26, came in at ₹4,022 Cr. Why this happened. The latest summary identifies Maharashtra solar starts and progress on other solar projects. This broadens the revenue pool, but transmission remains a condition for further mobilisation. The Value Chain Climb is not established: management guides renewable margins at parity, so the model assumes additional execution rather than a separate margin premium. The last four reported quarters add to ₹4,155 Cr. FY26 revenue was ₹4,022 Cr, +17.0% on the year before. Recent pace: the last four quarters grew +19.2% on average, against 31.1% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +20.3%, against +13.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +23.5%, against −2.5% a year (accelerating). ## How much of every ₹100 of sales does Ceigall India keep? Ceigall India Ltd's operating margin was 15.0% in the Jun 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Across 7 years it has been between 14.0% and 18.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +1.8 percentage points on the year while gross margin changed +1.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Ceigall India's profit turning into cash? Over the last 3 years Ceigall India Ltd's operations used more cash than they brought in, so cash conversion was −91%, a gap worth watching. In FY26 its operations used ₹91.0 Cr of cash, against ₹309 Cr of profit. After ₹45.0 Cr of spending on assets, free cash was −₹136 Cr: it spent more than its operations brought in. Why this happened. Receipts could reduce the need for new borrowing and allow scheduled equity deployment. Sale proceeds must not be confused with recurring operating cash or added again as an independent earnings contribution. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −91% of profit came in as cash: the cash cycle got 448 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 1.5× depreciation over three years. The next section checks what that spending is building. ## Where does Ceigall India's cash go? Ceigall India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −459 days in FY26, down from −11 days in FY21. It spent ₹267 Cr on assets over the last 3 years. Customers take 58 days to pay, and stock sits for 37 days on average. At FY26 sales of ₹4,022 Cr, each day of that cycle ties up about ₹11.0 Cr, so roughly −₹5,058 Cr is tied up in the business at any time. FY26: customers took 58 days to pay and stock sat for 37 days, about 1.2 months of sales sitting as stock, for a full cycle of −459 days, shorter than FY21's −11. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 37 days. Customers pay about 58 days after that. Suppliers are paid at 554 days. Together that makes the −459-day cycle. Spending on assets: ₹267 Cr over the last 3 years, against ₹173 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹4.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Ceigall India's P/E ratio, and how does it compare with its own history? Ceigall India Ltd's P/E is 21.5×, near the high end of its own history: higher than 88% of past readings. Its usual P/E (the middle reading) is 18.4×, over 2.2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +6.0% while the price moved +57.9%. The price did better than earnings, which pushed the multiple up within its own range. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 3.4% on reported income across 13 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What growth does the Ceigall India share price assume? Worked out from its price on 11 October 2026, Ceigall India Ltd's share price assumed profit growth of about 11.7% a year. Over the past 6 years its profit actually grew 23.1% a year. Today its P/E is 21.5×, higher than 88% of its own last 2.2 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Ceigall India business getting better or worse? Ceigall India Ltd's business is turning around. Profit growth has swung from −33.3% at its low to +25.5%, rising from a low 4 quarters ago (from single-quarter figures), with ROCE falling at 17.0%. This is based on 9 quarters of 3 measures, with some gaps. Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the Ceigall India story, and has it been checked? Ceigall India Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: EARLY EXPANSION. Our read, 10 October 2026. Project starts are translating order visibility into earnings, but cash collection and HAM sale receipts determine whether the expansion can finance itself. From the numbers. The normalization…

From the price. Price stage 2, week 37, above its 200-day line, relative strength rising. From the research. Project starts are translating order visibility into earnings, but cash collection and HAM sale receipts determine whether the expansion can finance itself. Where they disagree. The normalization verdict is NA SHORT MARGIN HISTORY. What is proven. Project starts are translating order visibility into earnings, but cash collection and HAM sale receipts determine whether the expansion can finance itself. What is not proven yet. The thesis breaks if newly started projects continue recording earnings while operating cash stays negative and HAM sale receipts fail to fund the promised equity deployment, forcing additional borrowing to sustain execution. Conversely, reconciled positive operating cash and verified disposal receipts covering scheduled equity deployment would remove the principal funding objection. What would change our mind. The thesis breaks if newly started projects continue recording earnings while operating cash stays negative and HAM sale receipts fail to fund the promised equity deployment, forcing additional borrowing to sustain execution. Conversely, reconciled positive operating cash and verified disposal receipts covering scheduled equity deployment would remove the principal funding objection. The test written in advance. Debt-funded earnings. Measured by: Debt-funded earnings Reported profit rises while operating cash remains negative and consolidated borrowing increases. by the next result. The test written in advance. External prerequisites delay conversion. Measured by: External prerequisites delay conversion Guided execution fails to appear after prerequisite clearance, or additional projects remain unable to mobilise. by the next result. What the surface reading misses. The surface reading is: Higher revenue and profit suggest continued recovery. The research reads it further: Operating profit increased faster than revenue as margin improved; higher interest and tax limited net-profit conversion. What the surface reading misses. The surface reading is: Profit growth exceeds revenue growth. The research reads it further: The operating-profit increase and higher operating margin explain the direction, while tax and financing absorb part of the benefit. Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Ceigall India management deliver what it promised? What Ceigall India Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Order Inflow Guidance Raised Without Explanation · 10 August 2026. In May 2026, management guided for a minimum order inflow of INR5,500 crores for Financial Year '27. In the Aug 2026 call, management stated a INR6,000 crore goal, approximately 9% higher, without explaining the change in the annual guidance. Billing and Payment Mechanics Changed Without Clarification · 10 August 2026. In May 2026, management said a government notification enabled monthly payments, supporting the expectation of improved cash flow and working capital. In Aug 2026, management attributed delayed payment on Northern Ayodhya to failure to achieve project milestones, stating that payment could only be made after milestone achievement, without clarifying whether this project is exempt from the monthly-payment mechanism. Solar Equity Requirement Revision · 9 February 2026. Management previously indicated in the November 2025 call that total equity for the renewable energy and BESS sectors combined would be less than 600 crores. However, in the February 2026 call, the requirement was revised significantly upward to 810 crores for the solar projects alone, marking a substantial increase in committed capital for the new segment. Earlier call (Nov 2025): “Exact figures can be shared with you. It”. Later call (Feb 2026): “For the new projects, it is 395 crores and for solar, it is close to 810 crores.”

VRK 12 Project Delay · 9 February 2026. In the November 2025 call, management stated they expected to achieve the Appointed Date for the VRK 12 HAM project before December 31, 2025. In the February 2026 call, the timeline has slipped by several months, with management now guiding for an Appointed Date one or two months after the VRK 11 milestone, which itself is now planned for March 2026. Earlier call (Nov 2025): “VRK 12, we are expecting any time before 31st December 2025.” Later call (Feb 2026): “For VRK 11, we expect a final meeting regarding forest clearance tomorrow or the day after... before March 31. Regarding VRK 12, we should have that about a month or two after VRK 11.”

Every quote above is taken word for word from the company’s own earnings calls. ## How much does Ceigall India earn on its capital? Ceigall India Ltd earned a ROCE of 17% in FY26. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 7.7% net margin and 0.73× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 7.7% net margin × 0.73× asset turnover × 2.58× leverage (assets divided by equity) ≈ 14.5% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 3.4% on reported income across 13 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Ceigall India have too much debt? Ceigall India Ltd had ₹1,311 Cr of borrowings against ₹2,138 Cr of equity in FY26, so its debt is 0.61× its equity. Its operating profit is 4 times its interest bill. Over 5 years borrowings went from ₹30.0 Cr to ₹1,311 Cr. Over the last 3 of those years it spent ₹267 Cr on assets. Why this happened. Monthly billing eligibility and commercial paper offer possible collection and interest-cost improvements. The latest milestone-payment explanation shows that eligibility is not equivalent to immediate collection. Commercial paper pricing is a goal rather than a delivered saving. Neither benefit is included as a quantified profit uplift. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 3.4% on reported income across 13 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Ceigall India shareholding pattern? Domestic institutions cut their stake in Ceigall India Ltd by 1.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 5.3% of the company. Foreign institutions moved +0.5 points over the same period, to 3.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −1.6 points over 8 quarters, to 5.3%; Foreign institutions: +0.5 points over 8 quarters, to 3.5%; Promoters: +0.0 points over 8 quarters, to 82.0%. Why the owners changed: domestic institutions drove it (−1.6 points), with the other side taken by foreign institutions (+0.5 points). They reduced their stake. ## How far is Ceigall India from balance-sheet trouble? For Ceigall India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Ceigall India rank in its industry? 62.3 out of 100, rank 4 of 15 in Construction - Civil/Turnkey, with 71% of the evidence available. Ceigall India Ltd scores 62.3 out of 100 against the 15 companies it is compared with in Construction - Civil/Turnkey, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 19.5 + 14.1 + 10 + 18.7 = 62.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ceigall India compared with? Ceigall India ranks 4 of 15 Construction - Civil/Turnkey companies on the 4-Factor Sector Score, with 62.3 out of 100. 1. [SRM Contractors Ltd](https://www.sectoralpha.in/stocks/srm-contractors-ltd) SRM · basing · Evidence leans up · 79% evidence 64.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 75.5% · Profit 87.3% · Operating margin change 5 points · 88% evidence Capital efficiency 20.8/25 · ROCE 37.1% · Operating margin 19% · 100% evidence Valuation 11.3/20 · P/E 7.9× · PEG n/a · 15% evidence Relative strength 4.4/20 · Lead over its industry -17.3% · Lead over NIFTY 500 -10.3% · 1 year -28.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.9 + 20.8 + 11.3 + 4.4 = 64.4 · What this means: Earnings are strong; relative strength in its sector is -17.3% and the one-year return is -28.9%. 2. [Sathlokhar Synergys E&C Global Ltd](https://www.sectoralpha.in/stocks/sathlokhar-synergys-e-c-global-ltd) SSEGL · breaking out · Evidence leans up · 60% evidence 62.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.9/35 · Revenue 100% · Profit 100% · Operating margin change 2 points · 95% evidence Capital efficiency 18.6/25 · ROCE 36.3% · Operating margin 15% · 76% evidence Valuation 10.9/20 · P/E 8.4× · PEG n/a · 15% evidence Relative strength 9.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -3% · 1 year -35.9% · 25% evidence · 10 of 12 weeks ahead Exact sum: 23.9 + 18.6 + 10.9 + 9.5 = 62.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Univastu India Ltd](https://www.sectoralpha.in/stocks/univastu-india-ltd) UNIVASTU · Too little evidence to rank firmly · 58% evidence 62.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.4/43.75 · Revenue 100% · Profit 82.3% · Operating margin change -11 points · 83% evidence Capital efficiency 22.2/31.25 · ROCE 30% · Operating margin 14% · 76% evidence Valuation 11.1/25 · P/E 16.4× · PEG n/a · 50% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 29.4 + 22.2 + 11.1 = 62.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 4. Ceigall India Ltd this page CEIGALL · breaking out · Evidence leans up · 71% evidence 62.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.5/35 · Revenue 20.3% · Profit 23.5% · Operating margin change 2 points · 83% evidence Capital efficiency 14.1/25 · ROCE 17% · Operating margin 15% · 76% evidence Valuation 10.0/20 · P/E 21.1× · PEG n/a · 15% evidence Relative strength 18.7/20 · Lead over its industry 20.3% · Lead over NIFTY 500 29% · 1 year 55.1% · 100% evidence · 6 of 12 weeks ahead Exact sum: 19.5 + 14.1 + 10 + 18.7 = 62.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Interise Trust](https://www.sectoralpha.in/stocks/interise-trust) INTERISE · Too little evidence to rank firmly · 51% evidence 51.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.9/43.75 · Revenue 6% · Profit 64.1% · Operating margin change 4 points · 83% evidence Capital efficiency 12.4/31.25 · ROCE 9.7% · Operating margin 94% · 76% evidence Valuation 13.0/25 · P/E 13.6× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 25.9 + 12.4 + 13 = 51.3 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 6. [GHV Infra Projects Ltd](https://www.sectoralpha.in/stocks/ghv-infra-projects-ltd) quiet · Evidence leans down · 87% evidence 48.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.2/35 · Revenue 92.6% · Profit 66.7% · Operating margin change 0 points · 95% evidence Capital efficiency 16.4/25 · ROCE 46% · Operating margin 12% · 95% evidence Valuation 11.1/20 · P/E 34.2× · PEG n/a · 50% evidence Relative strength 5.2/20 · Lead over its industry -14.9% · Lead over NIFTY 500 -7.6% · 1 year -27.9% · 100% evidence · 10 of 12 weeks ahead Exact sum: 16.2 + 16.4 + 11.1 + 5.2 = 48.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Gayatri Projects Ltd](https://www.sectoralpha.in/stocks/gayatri-projects-ltd) GAYAPROJ · losing its lead · Too little evidence to rank firmly · 56% evidence 48.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/35 · Revenue 100% · Profit 100% · Operating margin change 6 points · 62% evidence Capital efficiency 6.3/25 · ROCE 4.8% · Operating margin 18% · 76% evidence Valuation 11.8/20 · P/E 7× · PEG n/a · 50% evidence Relative strength 11.5/20 · Lead over its industry n/a · Lead over NIFTY 500 15.1% · 1 year 72.2% · 25% evidence · 7 of 12 weeks ahead Exact sum: 19.3 + 6.3 + 11.8 + 11.5 = 48.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Denta Water & Infra Solutions Ltd](https://www.sectoralpha.in/stocks/denta-water-infra-solutions-ltd) DENTA · quiet · Evidence leans down · 64% evidence 42.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.4/35 · Revenue 10% · Profit -10.2% · Operating margin change -11 points · 88% evidence Capital efficiency 15.3/25 · ROCE 18.4% · Operating margin 22% · 100% evidence Valuation 10.6/20 · P/E 11.1× · PEG n/a · 15% evidence Relative strength 7.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -20.2% · 1 year -44.9% · 25% evidence · 4 of 12 weeks ahead Exact sum: 8.4 + 15.3 + 10.6 + 7.8 = 42.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [B.L.Kashyap & Sons Ltd](https://www.sectoralpha.in/stocks/blkashyap-sons-ltd) BLKASHYAP · turning · Evidence leans down · 64% evidence 42.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.2/35 · Revenue 21.9% · Profit -80% · Operating margin change 0 points · 88% evidence Capital efficiency 9.2/25 · ROCE 12.6% · Operating margin 8% · 100% evidence Valuation 9.6/20 · P/E 31.9× · PEG n/a · 15% evidence Relative strength 11.0/20 · Lead over its industry n/a · Lead over NIFTY 500 3.9% · 1 year -11.6% · 25% evidence · 3 of 12 weeks ahead Exact sum: 12.2 + 9.2 + 9.6 + 11 = 42 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [IL&FS Engineering & Construction Co Ltd](https://www.sectoralpha.in/stocks/il-fs-engineering-construction-co-ltd) IL&FSENGG · Too little evidence to rank firmly · 56% evidence 38.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.7/35 · Revenue -33.5% · Profit 100% · Operating margin change 40.3 points · 65% evidence Capital efficiency 1.8/25 · ROCE 0.8% · Operating margin -24.9% · 100% evidence Valuation 8.9/20 · P/E 37.6× · PEG n/a · 15% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 32.5% · 1 year n/a · 25% evidence Exact sum: 15.7 + 1.8 + 8.9 + 12.5 = 38.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 11. [Afcons Infrastructure Ltd](https://www.sectoralpha.in/stocks/afcons-infrastructure-ltd) AFCONS · quiet · Most evidence points down · 74% evidence 32.3 out of 100 Growth Capital Valuation Relative
12. [A B Infrabuild Ltd](https://www.sectoralpha.in/stocks/a-b-infrabuild-ltd) ABINFRA · breaking out · Most evidence points down · 96% evidence 29.7 out of 100 Growth Capital Valuation Relative
13. [Brahmaputra Infrastructure Ltd](https://www.sectoralpha.in/stocks/brahmaputra-infrastructure-ltd) Too little evidence to rank firmly · 47% evidence 63.1 out of 100 Growth Capital Valuation Relative
14. [Effwa Infra & Research Ltd](https://www.sectoralpha.in/stocks/effwa-infra-research-ltd) EFFWA · quiet · Too little evidence to rank firmly · 47% evidence 54.6 out of 100 Growth Capital Valuation Relative
15. [HRS Aluglaze Ltd](https://www.sectoralpha.in/stocks/hrs-aluglaze-ltd) Too little evidence to rank firmly · 26% evidence 52.2 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Construction - Civil/Turnkey](https://www.sectoralpha.in/sectors/construction-civil-turnkey), all 15 compared on one page. ## Which companies are close to Ceigall India in size? Ceigall India is the 3rd largest of 15 Construction - Civil/Turnkey companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Interise Trust and Afcons Infrastructure. Just below it: GHV Infra Projects, B.L.Kashyap & Sons, SRM Contractors and Sathlokhar Synergys E&C Global. ### Construction - Civil/Turnkey companies close in size

1. [Interise Trust](https://www.sectoralpha.in/stocks/interise-trust) ₹11,659 crore
2. [Afcons Infrastructure Ltd](https://www.sectoralpha.in/stocks/afcons-infrastructure-ltd) ₹7,578 crore
3. Ceigall India Ltd ₹6,797 crore
4. [GHV Infra Projects Ltd](https://www.sectoralpha.in/stocks/ghv-infra-projects-ltd) ₹1,911 crore
5. [B.L.Kashyap & Sons Ltd](https://www.sectoralpha.in/stocks/blkashyap-sons-ltd) ₹1,175 crore
6. [SRM Contractors Ltd](https://www.sectoralpha.in/stocks/srm-contractors-ltd) ₹932 crore
7. [Sathlokhar Synergys E&C Global Ltd](https://www.sectoralpha.in/stocks/sathlokhar-synergys-e-c-global-ltd) ₹929 crore

[All 15 Construction - Civil/Turnkey companies, largest first](https://www.sectoralpha.in/sectors/construction-civil-turnkey#all-companies)

### Companies close in size in other industries

1. [SML Mahindra Ltd](https://www.sectoralpha.in/stocks/sml-mahindra-ltd) ₹6,836 crore · Auto - Bus/LCVs
2. [Supriya Lifescience Ltd](https://www.sectoralpha.in/stocks/supriya-lifescience-ltd) ₹6,819 crore · Pharma - API & CRAMS
3. Ceigall India Ltd ₹6,797 crore
4. [Relaxo Footwears Ltd](https://www.sectoralpha.in/stocks/relaxo-footwears-ltd) ₹6,784 crore · Footwear
5. [NDR INVIT Trust](https://www.sectoralpha.in/stocks/ndr-invit-trust) ₹6,779 crore · Infrastructure Investment Trusts

## What else do people ask about Ceigall India? ### What is Ceigall India's share price today? Ceigall India Ltd's share price is ₹397.20, +57.9% over the past year. The whole company is worth ₹6,922 Cr on the market. It is at its highest price of the past 52 weeks (range ₹233 to ₹397), 17.7% above its 200-day average. The price has been rising for 37 weeks (as of 3 November 2026). ### What were Ceigall India's latest quarterly results? Ceigall India Ltd reported revenue of ₹970 Cr and net profit of ₹64.0 Cr for the Jun 2026 quarter. Revenue rose 15.8% and profit rose 25.5% compared with a year earlier. Earnings per share were ₹3.52. The operating margin was 15.0%, 2.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Ceigall India's market cap? Ceigall India Ltd's market capitalisation is ₹6,922 Cr at a share price of ₹397.20. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Ceigall India performing? Ceigall India Ltd's share price has been rising for 37 weeks. In its latest quarter, revenue rose 15.8% and profit rose 25.5% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 7 weeks running (as of 3 November 2026). ### Will Ceigall India's share price go up? This page does not forecast Ceigall India Ltd's share price. What it shows instead: the share price is ₹397.20, and it has been rising for 37 weeks. Its P/E of 21.5× is higher than 88% of its own last 2 years (as of 3 November 2026). ### Where is Ceigall India in its business cycle? Ceigall India Ltd's FY26 operating margin was 15.0%, against a 7-year range of 14.0% to 18.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 15.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Ceigall India story? The main question: profits are rising, but only −91% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Ceigall India a stock worth studying right now? What the numbers show: Ceigall India Ltd's share price has risen faster than its earnings: +57.9% in a year, against +6.0% for earnings per share. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Ceigall India share price forecast for 2026? What management itself guided: FY27 revenue growth at minimum 15%. The changes showing up in Ceigall India's own numbers are a bigger order book. It is too early to say whether they last. What would change the story: Land or financial-close prerequisites prevent mobilisation after appointed dates, or execution fails to become billable. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india

This is research, not advice. We’re not SEBI-registered.