Ceigall India Limited reported strong financial and operational growth for the fourth quarter and full year ended March 31, 2026, supported by robust project execution, healthy order inflows, and strategic diversification into renewable energy and power transmission sectors.
The infrastructure EPC company reported consolidated revenue from operations of INR 13,865 million in Q4 FY26, registering a year-on-year growth of 37.1%. EBITDA for the quarter stood at INR 2,235 million, with EBITDA margins of 16.1%.
For the full financial year FY26, consolidated revenue increased 17.1% year-on-year to INR 40,224 million, compared to INR 34,367 million in FY25. Consolidated EBITDA stood at INR 5,854 million with margins of 14.6%, supported by disciplined cost management and improving execution efficiency.
The company reported consolidated profit after tax (PAT) of INR 3,089 million for FY26, compared to INR 2,866 million in the previous fiscal year. Consolidated earnings per share (EPS) for FY26 stood at INR 17.73 against INR 17.04 in FY25.
Ceigall India’s order inflows during Q4 FY26 stood at INR 60,142 million, taking the total order book to INR 1,85,543 million as of March 31, 2026. The company stated that the order pipeline was supported by projects across highways in Bihar, Madhya Pradesh, and Arunachal Pradesh.
Subsequent to the financial year-end, the company also secured the Jaipur Metro Phase-II project, further strengthening its presence in urban infrastructure development.
Commenting on the performance, Ramneek Sehgal said FY26 marked a strong growth year for the company, driven by consistent execution across its EPC business and strong order inflows in highways and urban mobility projects.
He highlighted that one of the key developments during the year was the company’s strategic diversification into renewable energy and power transmission segments.
According to the company, Ceigall India secured multiple projects in solar energy, solar-plus-battery storage systems, and transmission & distribution infrastructure during the year, positioning the company to capitalize on emerging opportunities in India’s energy transition market.
The company also provided an update on its Hybrid Annuity Model (HAM) asset monetization plans. Ceigall stated that the Malout–Abohar HAM asset is in the process of being divested to Neo Asset Management at a favorable return on invested equity. Additionally, the Jalbehra–Shahbad and Bhatinda-Dabwali assets are currently undergoing due diligence after signing Non-Binding Offers (NBOs).
Ceigall India further noted that its international subsidiaries in Singapore and the UAE are actively building a project pipeline across Southeast Asia and the Middle East as part of its global expansion strategy.
On the financial front, the company reported consolidated debt-to-equity of 0.6x as of March 31, 2026, while net working capital days stood at 49 days. Standalone debt reduced to INR 4,123 million from INR 6,359 million in FY25, while consolidated debt stood at INR 15,723 million.
Founded in 2002, Ceigall India specializes in the design and construction of complex infrastructure projects, including elevated roads, flyovers, bridges, railway overbridges, tunnels, expressways, and runways. The company currently manages projects across more than 12 Indian states and two international markets.
Looking ahead, the company said it remains focused on strengthening execution capabilities, expanding its order book, diversifying its infrastructure portfolio, and building long-term revenue visibility across traditional EPC, renewable energy, and international infrastructure markets.
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