Ceigall India spurts after bagging Rs 1,700 crore solar project in Madhya Pradesh

Ceigall India surged 4.89% to Rs 298 after the company announced the receipt of a letter of award (LOA) from Rewa Ultra Mega Solar (RUMSL) for the development of Unit 1 (220 MW) at Morena Solar Park, Madhya Pradesh.

The project, awarded on a tariff-based competitive bidding mechanism, comprises a 220 MW solar power project integrated with a battery energy storage system (BESS). The tariff quoted for the project is ₹2.70 per kWh, with an approximate project value of Rs 1,700 crore.

The construction period for the project is 24 months, followed by an operational period of 25 years.

The Morena Solar Park is a key renewable energy initiative in Madhya Pradesh and is designed to enhance grid stability through integrated storage solutions. The addition of BESS alongside solar generation will enable efficient peak power management and improved dispatch reliability.

The company stated that this order would further strengthens its growing order book and mark a strategic expansion into large-scale renewable energy infrastructure.

Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, said: "We are pleased to secure the 220 MW Solar and BESS project at Morena Solar Park from Rewa Ultra Mega Solar Limited.

This project strengthens our presence in the clean energy segment, and we are committed to executing it efficiently while supporting Indias energy transition and decarbonisation objectives."

Ceigall India has also announced its earnings for the quarter ended on 31 December 2025.

The company has reported 1.2% rise in consolidated net profit to Rs 74.11 crore on a 19.3% increase in net revenue to Rs 991.14 crore in Q3 FY26 as compared with Q3 FY25.

While EBITDA improved by 12.7% to Rs 139.1 crore, EBITDA margin declined by 90 basis points YoY to 14.0% in Q3 FY26.

Profit before tax in Q3 FY26 stood at Rs 97.05 crore, up by 2.7% from Rs 94.53 crore recorded in Q3 FY25.

Ceigall India is an infrastructure engineering, procurement, and construction (EPC) company undertaking specialized structural works such as elevated roads, flyovers, bridges, railway overbridges, tunnels, highways, expressways, and runways. The principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects.

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