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Infrastructure company Ceigall India Ltd on Monday (February 9) said it has received a Letter of Award (LOA) from Rewa Ultra Mega Solar Ltd for the development of Unit 1 at Morena Solar Park, Madhya Pradesh, with a capacity of 220 MW.
The project includes both solar and Battery Energy Storage Systems (BESS) components and is tariff-based, with a quoted tariff of ₹2.70 per kWh. The approximate project value, including GST, is ₹1,700 crore.
The Letter of Award was awarded by a domestic entity, and the execution of the project is scheduled over a construction period of 24 months, followed by an operational period of 25 years.
Also Read: Ceigall India shares up 4% as arm emerges lowest bidder for ₹1,809 cr MP road project
Ceigall India confirmed that the order does not involve any related party transactions and no promoter, promoter group, or group companies have any interest in the entity awarding the contract.
Third Quarter Results
Net profit for the quarter edged up 1.2% year-on-year to ₹74.1 crore, compared with ₹73.2 crore in the corresponding period last year. Revenue rose sharply by 19.3% to ₹991 crore from ₹830.5 crore, reflecting healthy execution across ongoing projects.
EBITDA increased 12.8% year-on-year to ₹138.7 crore, while margins moderated to 14% from 14.8% a year ago, indicating some pressure on operating profitability despite higher revenues.
Also Read: Ceigall India wins ₹59-cr annual contract from REC Power for Velgaon substation
During the quarter, Ceigall India announced the appointment of A. Saravanan as Chief Executive Officer, effective February 10, strengthening its senior management team.
As of December 31, 2025, Ceigall India’s total order book stood at ₹13,295.1 crore, providing strong revenue visibility. The company continues to expand beyond roads and highways, with a growing presence in renewables, transmission and distribution, and industrial infrastructure.
Shares of Ceigall India Ltd ended at ₹284.10, down by ₹8.20, or 2.81%, on the BSE.
The project includes both solar and Battery Energy Storage Systems (BESS) components and is tariff-based, with a quoted tariff of ₹2.70 per kWh. The approximate project value, including GST, is ₹1,700 crore.
The Letter of Award was awarded by a domestic entity, and the execution of the project is scheduled over a construction period of 24 months, followed by an operational period of 25 years.
Also Read: Ceigall India shares up 4% as arm emerges lowest bidder for ₹1,809 cr MP road project
Ceigall India confirmed that the order does not involve any related party transactions and no promoter, promoter group, or group companies have any interest in the entity awarding the contract.
Third Quarter Results
Net profit for the quarter edged up 1.2% year-on-year to ₹74.1 crore, compared with ₹73.2 crore in the corresponding period last year. Revenue rose sharply by 19.3% to ₹991 crore from ₹830.5 crore, reflecting healthy execution across ongoing projects.
EBITDA increased 12.8% year-on-year to ₹138.7 crore, while margins moderated to 14% from 14.8% a year ago, indicating some pressure on operating profitability despite higher revenues.
Also Read: Ceigall India wins ₹59-cr annual contract from REC Power for Velgaon substation
During the quarter, Ceigall India announced the appointment of A. Saravanan as Chief Executive Officer, effective February 10, strengthening its senior management team.
As of December 31, 2025, Ceigall India’s total order book stood at ₹13,295.1 crore, providing strong revenue visibility. The company continues to expand beyond roads and highways, with a growing presence in renewables, transmission and distribution, and industrial infrastructure.
Shares of Ceigall India Ltd ended at ₹284.10, down by ₹8.20, or 2.81%, on the BSE.
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