Ceigall India up 4% after emerging as lowest bidder for HAM projects worth ₹2,499 crore

The company secured the tender from the National Highway Authority of India (NHAI) for the construction of a 4/6 lane bypass in Southern Ayodhya that spans 32.172 km. The project is worth ₹1,299.20 crore and is part of the NHDP Phase-VII.

Additionally, the company secured another tender from NHAI for the construction of a 4/6 lane bypass in Northern Ayodhya which spans 35.40 km. This project is part of the NHDP Phase-VII and is worth ₹1,199.30 crore.

As of June 30, 2024, the company’s order book was worth ₹9,470 crore. 93% of the company’s order book was made up of roads, highways, flyovers, and tunnels, of which, 52% were on an engineering, procurement & construction (EPC) mode while 40% were on a HAM basis. Railway & Metro projects made up 7% of the company’s order book while airport runways accounted for 1% of the order book.

For the quarter ended June 30, 2024, Ceigall India reported a 76.5% year-on-year (YoY) surge in its net profit to ₹77.9 crore. The company’s total revenue rose 26.5% YoY to ₹822.4 crore.

In Q1FY25, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 65.1% YoY to ₹144.1 crore. The EBITDA margin for the quarter expanded to 17.5% compared to 13.4% in the corresponding period last year. Meanwhile, the net profit margin for the quarter stood at 9.5% compared to 6.8% in the same period last year.

Shares of the company have risen by nearly 1% since the stock listed on the bourses.