Order Book
₹18,554 Cr
+157% YoY
Order book as on March 31, 2026, providing multi-year revenue visibility.
CEIGALLINDIA
Other
06 May 2026
Ceigall India Ltd — Q4 FY26
Ceigall India delivered a strong Q4 FY26 with standalone revenue of ₹1,294 crore (+30.5% YoY) and EBITDA of ₹183 crore (14.1% margin).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Ceigall India delivered a strong Q4 FY26 with standalone revenue of ₹1,294 crore (+30.5% YoY) and EBITDA of ₹183 crore (14.1% margin). Full-year revenue grew 14.3% to ₹3,869 crore, while PAT stood at ₹305 crore (7.9% margin). The order book surged to ₹18,554 crore (book-to-bill 4.8x), driven by ₹11,332 crore inflows—far exceeding the ₹5,000 crore guidance. Diversification into renewables (35% of order book) and international bids (Romania highway project worth ~₹13,000 crore) highlight growth vectors. Management guided FY27 revenue growth of 15% minimum, EBITDA margins of 11-12.5%, and order inflows of ₹5,500 crore. Key risk: execution delays in HAM and renewable projects due to land/transmission dependencies.
Key Numbers
Order Inflow (FY26)
₹11,332 Cr
+127% YoY
Total order inflow for FY26, significantly surpassing annual guidance of ₹5,000 crore.
Renewable Share in Order Book
35%
+16pp YoY
Renewable sector now constitutes 35% of total order book, up from 19% in FY25.
Book-to-Bill Ratio
4.8x
+2.1x YoY
Order book to revenue ratio indicates strong future revenue coverage.
Management Guidance
FY27 Revenue Growth of 15% Minimum
Management guided at least 15% revenue growth in FY27, with renewable sector contributing 20-25% of total revenue.
Management guidance revenueEBITDA Margin Guidance of 11-12.5%
EBITDA margin expected to sustain between 11% and 12.5% for FY27, excluding other income.
Management guidance marginsOrder Inflow Guidance of ₹5,500 Crore Minimum
Management expects minimum order inflow of ₹5,500 crore in FY27.
Management guidance growthKey Risks
Execution Delays in HAM and Renewable Projects
HAM projects require 80% land handover and renewable projects depend on transmission connectivity, which could delay revenue recognition.
medium · management_commentaryReceivables and Working Capital Pressure
Trade receivables jumped from 79 days to 138 days due to milestone-based billing; though new monthly billing norms may ease this.
medium · analyst_questionInternational Project Execution Risk
The Romania highway project (₹13,000 crore) is 65-70% of current order book; execution in a new geography carries regulatory and operational risks.
high · analyst_questionNotable Quotes
We have entered into a binding document for below the board Sadiwali asset with new asset management. This is the first transaction of its kind for it.
Out of the 12 biders, we were the only qualifying partner. We were only qualifying single company.
We have guided between 11 to 12.5% the double digit margin. Besides this we make money from other income also.
Frequently Asked Questions
What was Ceigall India's revenue in Q4 FY26?
Ceigall India reported revenue of ₹1,387 Cr in Q4 FY26, representing a +30.5% change compared to the same quarter last year.
What guidance did Ceigall India management give for FY27?
FY27 Revenue Growth of 15% Minimum: Management guided at least 15% revenue growth in FY27, with renewable sector contributing 20-25% of total revenue. EBITDA Margin Guidance of 11-12.5%: EBITDA margin expected to sustain between 11% and 12.5% for FY27, excluding other income. Order Inflow Guidance of ₹5,500 Crore Minimum: Management expects minimum order inflow of ₹5,500 crore in FY27.
What are the key risks for Ceigall India in FY27?
Key risks include Execution Delays in HAM and Renewable Projects — HAM projects require 80% land handover and renewable projects depend on transmission connectivity, which could delay revenue recognition.; Receivables and Working Capital Pressure — Trade receivables jumped from 79 days to 138 days due to milestone-based billing; though new monthly billing norms may ease this.; International Project Execution Risk — The Romania highway project (₹13,000 crore) is 65-70% of current order book; execution in a new geography carries regulatory and operational risks..
Did Ceigall India meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Ceigall India Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.