Ceigall India Limited, a fast-growing engineering, procurement, and construction (EPC) company, has expanded its business by entering the renewable energy sector. The company has been awarded two Letters of Intent (LoIs) by the Maharashtra State Electricity Distribution Co. Limited (MSEDCL) to procure a total of 337 MW of solar power. This project, a part of the state’s Mukhyamantri Saur Krushi Vahini Yojana 2.0 initiative, involves setting up grid-connected solar power plants at various sites throughout Maharashtra.
The move into green energy represents a strategic business diversification for Ceigall. By securing this contract, the company is positioning itself to capitalise on the increasing demand for sustainable infrastructure and renewable energy in India. This expansion not only broadens its portfolio but also aligns with the country’s broader goals of transitioning towards a cleaner energy mix and achieving sustainable growth.
This project reinforces Ceigall’s commitment to building a more sustainable future. By contributing to India’s energy transition, the company is not only enhancing its long-term value but also playing a role in the development of clean, reliable power sources. This new venture marks a significant step for Ceigall in a high-growth sector.
About the Company
Established in 2002, Ceigall India Limited stands as an infrastructure construction company with a strong focus on specialised structural projects. Their expertise encompasses the construction of vital transportation infrastructure, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. Beyond new construction, Ceigall also undertakes the maintenance of state and national highways, demonstrating a comprehensive approach to infrastructure development and upkeep.
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In its annual results, the net sales increased by 13.5 per cent to Rs 3,437 crore while net profit decreased by 5.6 per cent to Rs 287 crore in FY25 compared to FY24. The company has a market cap of over Rs 4,800 crore and the order book stands at Rs 10,337.40 crore. The shares of the company have a PE of 16x, an ROE of 21 per cent and an ROCE of 22 per cent. The stock is up by 25.33 per cent from its 52-week low of Rs 229 per share and down 28.3 per cent from its 52-week high of Rs 425 per share.