Ceigall India shares gain nearly 8% to 52-week high; Here’s what is driving the rally

It also reported its earnings for the third quarter of the 2025-26 financial year (Q3FY26).

At around 11:40 am, the stock was trading 4.16% higher at ₹297.10 per equity share. It touched a year’s low of ₹222.61 apiece on December 9, 2025.

The scrip gained more than 9% in the past week and 10% over the month. On a year-to-date basis, it soared 10%.

220 MW Solar and BESS project

In a regulatory filing, the company stated that it received a Letter of Award (LoA) dated February 9, 2026, from Rewa Ultra Mega Solar Limited (RUMSL) for the development of Unit 1 (220 MW) at Morena Solar Park in Madhya Pradesh.

According to the company, the project, with a quoted tariff of ₹2.70 per kWh and an approximate project valuation of ₹1,700 crore (including GST), was awarded on a tariff-based competitive bidding mechanism.

The construction period for the order, which comprises a 220 MW Solar Power Project integrated with a Battery Energy Storage System (BESS), stands at 24 months and will be followed by an operational period of 25 years.

Commenting on the development, Ramneek Sehgal, Chairman & Managing Director, Ceigall India, said: “We are pleased to secure the 220 MW Solar and BESS project at Morena Solar Park from Rewa Ultra Mega Solar Limited. As India progresses toward its 500 GW non-fossil capacity target, integrated solar and storage solutions are essential for delivering reliable, dispatchable renewable power. This project strengthens our presence in the clean energy segment, and we are committed to executing it efficiently while supporting India’s energy transition and decarbonisation objectives.”

Ceigall India Q3 results

Ceigall India on Monday posted a 1.23% year-on-year (YoY) rise in its consolidated net profit to ₹74.1 crore in the December quarter of FY26, on account of higher income.

In the corresponding period of the last fiscal year, it had logged a profit of ₹73.2 crore.

Its revenue from operations surged 19.34% YoY to ₹991.1 crore during the quarter under review, compared to ₹830.5 crore in the third quarter of FY25.

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹139.1 crore for Q3FY26, marking a 12.72% YoY jump from ₹123.4 crore in the year-ago period.

However, the EBITDA margin contracted to 14% for the reporting period, in comparison to 14.9% in Q3 FY25.

In a statement, the company's CMD Ramneek Sehgal said, "Looking ahead, we foresee positive momentum in tendering activity in Road Infrastructure, Renewable and Industrial Infrastructure segments. With a robust order book, improving execution pace and a disciplined bidding framework focused on profitability, we remain confident of accelerating revenue growth.”

Sehgal added that the company’s continued investments in in-house engineering, asset-light execution, technology integration and risk management place it well to capitalise on India’s infrastructure opportunity while creating long-term sustainable value for all stakeholders.

As of December 31, 2025, the company's total order book stood at ₹1,329.5 crore, providing healthy revenue visibility, he said.

Ceigall India has a total market capitalisation of ₹5,181.72 crore, as of February 10, 2026, according to data on the NSE.