Rs 10,000+ crore order book: EPC company receives orders worth Rs 1,309.16 crore from Maharashtra State Electricity Distribution Co. Ltd

DSIJ Intelligence-1 / 03 Oct 2025/ Categories: Mindshare, Trending

The stock is up by 16 per cent from its 52-week low of Rs 229 per share and down 33.3 per cent from its 52-week high of Rs 397.95 per share.

Ceigall India Limited (CIL) has secured two significant orders from the Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL), collectively valued at Rs 1,309.16 crore. Both orders are for the development of grid-connected Solar power projects under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme. The first order involves CIL acting as the Solar Power Developer (SPD) for a 147 MW (AC) solar photovoltaic project across two districts in Maharashtra, with an EPC cost of Rs 597.00 crore. The second, larger order is also for a Solar Power Developer role, covering a 190 MW (AC) solar project across four districts in the state, with an EPC cost of Rs 712.16 crore.

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For both projects, CIL will be responsible for the Construction, which has an execution period of 18 months. Crucially, the company will also operate, maintain, and supply power from these stations for a period of 25 years under a long-term Power Purchase Agreement (PPA) with MSEDCL. These domestic orders underscore CIL's role in boosting Maharashtra's renewable energy capacity under the state's flagship agricultural solar scheme.

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.

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 4,500 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 16 per cent from its 52-week low of Rs 229 per share and down 33.3 per cent from its 52-week high of Rs 397.95 per share.

Disclaimer: The article is for informational purposes only and not investment advice.