SYNOPSIS: One of the fastest-growing EPC companies with a JV has emerged as the L1 bidder for a Rs. 274 crore Frontier Highway road project in Arunachal Pradesh, involving EPC construction and five years of maintenance.
During Monday’s trading session, shares of one of the fastest-growing engineering, procurement and construction (EPC) companies are in focus on the stock exchanges, after emerging as the lowest bidder for an EPC order worth around Rs. 274 crores from the Ministry of Road Transport and Highways (MoRTH).
With a market cap of Rs. 4,664.3 crores, shares of Ceigall India Limited are trading in the green at Rs. 271.6 on BSE, up by around 2 percent, compared to its previous closing price of Rs. 266.45. The stock has delivered positive returns of around 11 percent in one year, but has fallen by over 8 percent in the last one month.
What’s the News
According to the latest disclosure filed with the stock exchanges, Ceigall India Limited, in a joint venture with Rajinder Infrastructure Private Limited (RIPL), has emerged as the L1 bidder for a road construction project awarded by the Ministry of Road Transport and Highways (MoRTH). Under the joint venture, Ceigall holds a 70 percent stake, while RIPL holds 30 percent.
The project has a bid value of around Rs. 274.08 crore and involves the construction of a road stretch from km 17.812 to km 55.377 (Package-2) of the Bile-Migging section of NH-913, also known as the Frontier Highway, in Arunachal Pradesh.
As per the project terms, the contract will be executed under the Engineering, Procurement and Construction (EPC) mode and the construction period is set at 48 months, followed by a five-year maintenance period.
Financials & More
Ceigall India reported a significant growth in revenue from operations, experiencing a year-on-year increase of over 19 percent, from Rs. 831 crores in Q3 FY25 to Rs. 991 crores in Q3 FY26. Likewise, its net profit increased during the same period from Rs. 71 crores to Rs. 72 crores, representing a marginal rise of nearly 1.4 percent YoY.
As of 31st December 2025, the company reported a total order book of Rs. 13,268 crores. A significant portion of the order book is concentrated in roads, highways, and flyover projects, which account for 64.2 percent of the total order book. This is followed by the renewable energy segment, contributing 23.9 percent, while industrial infrastructure projects make up 4.7 percent.
Other segments include transmission and distribution (2.9 percent), railways and metro projects (2.6 percent), bus terminals (1.1 percent), and tunnels (0.6 percent), with a negligible contribution from airport runway projects.
Ceigall India Limited is a construction company engaged in the business of providing Engineering, Procurement and Construction (EPC) services, with a focus on roads & highways, including expressways, elevated roads and tunnels.
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