Ceigall India delivered a 66.1% surge in second-quarter consolidated net profit to ₹93 crore, yet traders sold the stock down 2.78% to ₹388.35 on the National Stock Exchange. The pullback shaved ₹11.10 off the share price during midday trade. Profit-taking arrived swiftly—even as operating margins widened 300 basis points.
Revenue climbed 26.7% year-on-year to ₹1,022.4 crore for the quarter ended September 30, up from ₹807 crore in the corresponding period of FY26, according to the regulatory filing. Operating leverage took hold across construction sites. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) leaped 52.6% to ₹174 crore against ₹114 crore a year earlier, lifting EBITDA margin to 17% from 14%.
| Metric | Q2 FY27 | Q2 FY26 | YoY Change (%) |
|---|---|---|---|
| Revenue | ₹1,022.40 Cr | ₹807.00 Cr | +26.7% |
| EBITDA | ₹174.00 Cr | ₹114.00 Cr | +52.6% |
| EBITDA Margin | 17.0% | 14.0% | +300 bps |
| Net Profit | ₹93.00 Cr | ₹56.00 Cr | +66.1% |
The flagship engineering, procurement, and construction (EPC) division supplied the heavy volume. EPC revenue rose to ₹896.38 crore compared to ₹717.15 crore in the prior-year period, while segment earnings jumped 76.6% to ₹101.97 crore. But the sharpest operational swing emerged in annuity concessions. The segment booked ₹372 crore in revenue and generated a profit of ₹14.72 crore—reversing an operating loss of ₹41.2 lakh logged in the year-ago quarter. Ancillary business lines contributed another ₹83.66 crore.
To back its order pipeline, the board approved an enabling resolution to raise up to ₹1,000 crore through equity shares, qualified institutional placements, rights issues, or convertible debentures. The board also cleared an increase in authorised share capital to ₹120 crore from ₹110 crore, subject to shareholder approval via postal ballot. In leadership changes, Chandan Singh was named additional and whole-time director for a three-year tenure effective November 5, 2026.
Cash generation received another push on the asset-sale front. Ceigall India executed a binding offer letter with Neo Alternative Asset Managers Private Limited to divest step-down subsidiary Ceigall Bathinda Dabwali Highways Private Limited at an enterprise valuation of ₹356.2 crore. Management expects to clear lender consents and regulatory clearances to conclude the transaction on or before March 31, 2027.