Shares of Ceigall India leapt 1.44% to ₹383 on the NSE, rebounding from the day’s low after the company announced a ₹214.52 cr stone‑mining order from Bihar’s government—its first multi‑year contract under e‑reverse auction.
NEWPAR The contract carries an annual value of ₹28.82 cr, rising 20% each year for five years, totaling ₹214.52 cr. Mining operations will tap a reserve of 4,19,300 m³ per year, or 20,96,500 m³ over the term, positioning Ceigall to lock in a steady cash‑flow stream.
NEWPAR The letter of intent (LoI) was received electronically on 29 Sept and awarded through a competitive bidding process; the filing confirms no related‑party transaction, underscoring the deal’s independence.
NEWPAR Ceigall’s diversification strategy gains traction: 73% of its order book originates from developer contracts, while 36% stems from renewable and transmission‑distribution projects. Chairman‑MD Ramneek Sehgal noted an upcoming ₹5,300 cr power‑transmission LOI from REC Power Development, signalling continued revenue expansion.
NEWPAR With the contract’s five‑year revenue being ₹28.82 cr annually, the company anticipates a lift in its FY25 top line. Analysts will watch next quarter’s earnings for the impact of this new pipeline and the company's broadened renewable exposure.