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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,387 Cr
verified against source
Revenue YoY
30.5%
reported change
EBITDA
₹183 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
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.
Colored figures show movement against the previous available record.
Guidance to track
- Management guided at least 15% revenue growth in FY27, with renewable sector contributing 20-25% of total revenue.
- EBITDA margin expected to sustain between 11% and 12.5% for FY27, excluding other income.
- Management expects minimum order inflow of ₹5,500 crore in FY27.
Risks flagged
- HAM projects require 80% land handover and renewable projects depend on transmission connectivity, which could delay revenue recognition.
- Trade receivables jumped from 79 days to 138 days due to milestone-based billing; though new monthly billing norms may ease this.
- The Romania highway project (₹13,000 crore) is 65-70% of current order book; execution in a new geography carries regulatory and operational risks.
Key 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.
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