Ceigall India rises 3% on winning this deal from REC Power Development

Ceigall India share price today: Ceigall India shares were in focus on Tuesday, November 25, 2025, with the scrip rising as much as 3.12 per cent to an intraday high of ₹247.45 per share.

 

Around 10:20 AM, Ceigall India shares were trading 1.19 per cent higher at ₹242.80 per share. In comparison, BSE Sensex was trading flat at 84,947.83 levels.

 

Why did Ceigall India’s share price rise today?

 

Ceigall India’s shares gained in trade on Tuesday after the company announced it had received a Letter of Intent (LOI) from REC Power Development and Consultancy Ltd (RECPDCL) to establish a 400/220 kV gas-insulated substation (GIS) at Velgaon in Maharashtra under the tariff-based competitive bidding (TBCB) route. 

 

The mandate marks a major step in expanding Ceigall’s presence in the high-voltage power transmission segment.

 

The Velgaon GIS project carries an EPC cost of about ₹450 crore and will be executed over 24 months, followed by a 35-year operations and maintenance period. 

 

Ceigall disclosed that it will receive an annual annuity of ₹58.5 crore for the duration of the O&M term, providing long-term, predictable cash flows that complement its otherwise transactional EPC revenue stream. 

 

The development also strengthens its portfolio of stable, annuity-based assets.

 

Ramneek Sehgal, chairman and managing director, Ceigall India, said, “We are honoured to be entrusted with the Velgaon GIS project by REC Power. This demonstrates Ceigall’s engineering strengths and our commitment to delivering large-scale, future-ready infrastructure. As India rapidly upgrades its power transmission backbone, Ceigall remains focused on building assets that enhance grid reliability and meet the highest benchmarks of safety and performance. The Velgaon substation will be a crucial addition to the regional power network, and we look forward to executing it with precision and excellence.”

 

The LOI adds to the company’s strong order momentum in FY25-26, which includes national highway upgrades, bridge works, mobility corridors, and key urban infrastructure projects, the company said. 

 

With the Velgaon mandate, Ceigall further deepens its foray into power transmission and distribution, positioning itself as an integrated and sustainable infrastructure player.

 

Ceigall India Q2 show

 

Ceigall India reported consolidated revenue of ₹806.6  crore in Q2FY26, up 4.5 per cent year-on-year (Y-o-Y) from ₹772.2 crore in the same quarter last year. Ebitda for the quarter stood at ₹113.6 crore, translating into an Ebitda margin of 14.1 per cent, while profit after tax (PAT) came in at ₹56.2 crore. 

 

For H1FY26, the company posted revenue of ₹1,644.7 crore compared with ₹1594.6 crore a  year earlier. Ebitda for the six-month period stood at ₹222.7 crore, and PAT totalled ₹107.5 crore.

 

Ceigall India is an infrastructure engineering, procurement and construction (EPC) company specialising in complex structural works, including elevated roads, flyovers, bridges, railway overbridges, tunnels, highways, expressways and runways. Its business spans EPC contracts and hybrid annuity model (HAM) projects.

 

The company has delivered more than 37 projects to date, including 18 EPC, 2 HAM, 5 O&M and 12 item-rate projects. It currently has 26 projects under execution across EPC, HAM, O&M, DBFOT and tariff-based categories, covering elevated corridors, bridges, flyovers, rail overbridges, tunnels, expressways, runways, metro infrastructure, multi-lane highways, renewable projects, transmission and distribution assets, and industrial infrastructure.