Rs 1,700 Crore Project: Solar EPC Company Declared as the Lowest Bidder (L1) by Rewa Ultra Mega Solar Ltd
DSIJ Intelligence-1 / 22 Sep 2025/ Categories: Mindshare, Trending
The stock is up by 24 per cent from its 52-week low of Rs 229 per share and down 28.6 per cent from its 52-week high of Rs 425 per share.
Ceigall India Limited has been declared the lowest (L-1) bidder by Rewa Ultra Mega Solar Limited for a significant project in Madhya Pradesh. The project, located at the Morena Solar Park, involves the establishment of a grid-connected ground-mounted solar photovoltaic (PV) project with Battery Energy Storage Systems (BESS). In a competitive bidding process, Ceigall India Limited quoted a tariff of Rs 2.70/kWh and secured a capacity of 220 MW out of the total 440 MW project. The approximate value of the company’s portion of the project is Rs 1,700 crore, inclusive of GST.
The project is a domestic venture with a construction period of 24 months, after which it will have an operational period of 25 years. This contract was secured through a transparent, tariff-based competitive bidding process with an electronic reverse auction. This initiative aligns with the country's push for renewable energy and the development of sustainable energy infrastructure.
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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 24 per cent from its 52-week low of Rs 229 per share and down 28.6 per cent from its 52-week high of Rs 425 per share.
Disclaimer: The article is for informational purposes only and not investment advice.