Ceigall India Ltd - Stock Valuation and Financial Performance

The company was originally incorporated as ‘Ceigall Builders Private Limited’ at Ludhiana, Punjab, India under the provisions of the Companies Act, 1956 pursuant to a certificate of incorporation dated July 8, 2002, as a private limited company issued by the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh at Chandigarh. Upon the conversion of the company into a public limited company, pursuant to a board resolution dated January 28, 2011 and a shareholders’ resolution dated January 29, 2011, the name of the company was changed to “Ceigall India Limited” and a fresh certificate of incorporation dated February 9, 2011 was issued by the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh at Chandigarh.

Ceigall India is an infrastructure construction company with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. It is one of the fastest growing engineering, procurement and construction (EPC) company. Over the last two decades, the company has transitioned from a small construction company to an established EPC player, demonstrating expertise in the design and construction of various road and highway projects including specialised structures across many states in India. It has been empanelled to participate with the Delhi Metro Rail Corporation in its upcoming tenders involving inter alia construction of railways, mega bridges and tunnels in India and abroad and also with a public sector undertaking for highways, bridges and tunnel construction work in north-eastern states of India, and such empanelment is mutually extendable.

For its EPC and HAM projects, the scope of its services typically includes design and engineering of the project, procurement of raw materials, project execution at site with overall project management up to the commissioning of these projects. Its employee resources and fleet of owned equipment, some of which are under buyback arrangements, and rental equipment, together with its engineering skills and capabilities, enable it to execute a range of projects. It has an experience of executing projects across diverse geographic locations in India with varying degrees of complexities such as construction in high-traffic and high-density areas, construction of tunnels in hilly terrain and slope protection and rock fall protection due to high rainfall and involving specialised structures such as tunnels, bridges and elevated roads. It has diversified its geographical presence in construction and development and execution of major multi-lane highway projects with specialised structures in various states of India, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra and Bihar.

Business area of the company

Ceigall India is an infrastructure construction company with experience in undertaking specialized structural works such as elevated roads, flyovers, bridges, Railway over bridges (ROB), tunnels, highways, expressways and runways. It has diversified its geographical presence in construction, development and execution of major multi-lane highway projects with specialised structures in various states of India, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra and Bihar.

Awards, accreditations and recognition

• 2020: Received the 'Gold Award' at the National Highways Excellence Award, 2020 for Excellence in Project Management (EPC) from the Ministry of Road Transport and Highways, Government of India.
• 2020: Received the 'Special Award' at National Highwas Excellence Awards, 2020 for outstanding work in challenging condition from the Ministry of Road Transport and Highways, Government of India.
• 2021: Received the 'Special Award' at National Highwas Excellence Awards, 2021 for outstanding work in challenging condition from the Ministry of Road Transport and Highways, Government of India.

Major events and milestones

• 2002: Incorporation of the company as Ceigall Builder Private Limited.
• 2008: Road project executed which was awarded in 2006 by the Punjab Public Works Department, Ludhiana division with an aggregate project cost of Rs 62.94 million for 20.42 lane km.
• 2013: Awarded projects from the Greater Mohali Area Development Authority.
• 2014: Awarded first four lane highway EPC project from NHAI.
• 2018: Awarded five EPC projects from NHAI.
• 2018: Awarded an overlay project i.e. Kharar-Ludhiana-Ferozpur section (NH-95) through the Ministry of Road Transport Highway, which was completed before scheduled completion date.
• 2019: Awarded the project for construction of the Karatarpur Sahib Corridor connecting Indo-Pak border and completed before the scheduled completion date.
• 2021: Awarded the first project for construction of tunnel sector by NHAI in Jammu & Kashmir.
• 2022: Allocated a contract for construction of 16.85-kilometre elevated highway under stress asset model wherein the earlier contractor went insolvent.
• 2023: Completed the first HAM project (Malout-Abohar Project) before scheduled time.