Rs 12,598 crore order book: EPC Company Announces Strategic Asset Monetisation and New Project SPV Incorporation

Ceigall India Limited has officially announced a significant strategic shift involving the divestment of a key asset and the simultaneous expansion of its infrastructure portfolio. In a meeting held on January 13, 2026, the Management Committee authorised the execution of a non-binding offer letter for the 100 per cent equity sale of its step-down subsidiary, Ceigall Malout Abohar Sadhuwali Highways Private Limited. While the transaction is still subject to due diligence, definitive agreements and regulatory approvals from lenders and statutory bodies, this move underscores the company’s intent to optimise its balance sheet and recycle capital. To maintain market integrity during these developments, the company also noted that its trading window remains closed until 48 hours after the declaration of its Q3 and nine-month financial results for the period ending December 2025.

Parallel to this divestment, Ceigall India is strengthening its presence in the road development sector through the incorporation of a new Special Purpose Vehicle (SPV), Ceigall Indore Ujjain Greenfield Highway Limited. This subsidiary is established to execute a 48.10 km, four-lane access-controlled greenfield highway project connecting Indore and Ujjain under the Hybrid Annuity Mode (HAM). The project, awarded by the Madhya Pradesh Road Development Corporation Limited, will be funded via cash consideration with a specific shareholding structure: 74 per cent held directly by Ceigall India Ltd and 26 per cent by its wholly-owned subsidiary, Ceigall Infra Projects Private Limited. This dual-pronged approach of monetising mature assets while aggressively bidding for new greenfield projects highlights the company's robust growth trajectory in the Indian infrastructure industry.

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 4,000 crore and the Order Book stands at Rs 12,598 crore. The shares of the company have a PE of 19x, an ROE of 21 per cent and an ROCE of 19 per cent. The stock is up by 24 per cent from its 52-week low of Rs 229 per share and down 17 per cent from its 52-week high of Rs 383 per share.

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