Ceigall India shares surged as much as 7 per cent on August 27 after after company’s consolidated net profit from continued operations stood at Rs 77.85 crore in Q1 FY25, registering a growth of 76.53 per cent as against Rs 44.10 crore posted in Q1 FY24.
Revenue from operations stood at Rs 822.39 crore in the quarter ended 30 June 2024, up 26.49 per cent as against Rs 650.17 crore posted in the corresponding quarter last year.
Profit before tax jumped 72.25 per cent to Rs 103.91 crore in Q1 FY25 as against Rs 60.33 crore reported in Q1 FY24.
At 10.45 am, shares of Ceigall India were trading at Rs 405.55 on the NSE, sharply off its day’s high of Rs 421.50. The stellar earnings also tipped off a spike in volumes in the counter as 28 lakh shares changed hands on the exchanges so far, significantly higher than the one-week daily traded average of 11 lakh shares.
Shares of Ceigall India made their market debut earlier this month, listing at a premium of 5 percent at Rs 419 on the NSE, as against its IPO price of Rs 401 per share. The stock is currently trading over 6 percent lower than its listing price.
In an interaction with CNBC-TV18 post its listing, Bhagat Singh and Ramneek Sehgal from Ceigall India, stated that the company plans to utilise proceeds from the public issue to reduce debt and purchase machinery.
The company has also quoted for the longest metro project in Agra, valued at Rs 1,528 crore, and currently holds an order book of Rs 9,400 crore, with 80 percent from NHAI. “The company has also bid for projects worth Rs 16,000 crore,” the duo said. “While standalone cash flows are positive, operating cash flows are negative due to the HAM project, where 40 percent of payments are received during execution and 60 percent as annuity income. As these HAM projects are completed, cash flow is expected to strengthen. Ceigall India consistently bids for contracts based on targeted EBITDA margins,” they explained.
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