Ceigall India shares surged 7.5% to hit a fresh 52-week high of ₹307.90 per unit on the National Stock Exchange (NSE) on Tuesday, February 10, following the announcement of a major solar project win. According to reports from Upstox, the stock was trading 4.16% higher at ₹297.10 per equity share around 11:40 am. The scrip has gained more than 9% in the past week and 10% over the month, with a year-to-date surge of 10%. The stock had touched a year's low of ₹222.61 apiece on December 9, 2025.
In a regulatory filing, Ceigall India stated that it received a Letter of Award (LoA) dated February 9, 2026, from Rewa Ultra Mega Solar Limited (RUMSL) for the development of Unit 1 (220 MW) at Morena Solar Park in Madhya Pradesh. As reported by Upstox, the project, with a quoted tariff of ₹2.70 per kWh and an approximate project valuation of ₹1,700 crore (including GST), was awarded on a tariff-based competitive bidding mechanism. The construction period stands at 24 months with an operational period of 25 years, comprising a 220 MW Solar Power Project integrated with a Battery Energy Storage System (BESS).
Ceigall India posted a 1.23% year-on-year rise in consolidated net profit to ₹74.1 crore in the December quarter of FY26, compared to ₹73.2 crore in the corresponding period of the last fiscal year. According to Upstox, revenue from operations surged 19.34% YoY to ₹991.1 crore during Q3FY26, compared to ₹830.5 crore in Q3 FY25. The company's EBITDA stood at ₹139.1 crore for Q3FY26, marking a 12.72% YoY jump from ₹123.4 crore in the year-ago period, though the EBITDA margin contracted to 14% from 14.9% in Q3 FY25.
Commenting on the developments, Ramneek Sehgal, Chairman & Managing Director, Ceigall India, expressed satisfaction with securing the 220 MW Solar and BESS project. As reported by Upstox, Sehgal noted that integrated solar and storage solutions are essential for delivering reliable, dispatchable renewable power as India progresses toward its 500 GW non-fossil capacity target. The company's total order book stood at ₹1,329.5 crore as of December 31, 2025, providing healthy revenue visibility. Sehgal expressed confidence about positive momentum in tendering activity across Road Infrastructure, Renewable and Industrial Infrastructure segments.
According to Upstox, Ceigall India has a total market capitalisation of ₹5,181.72 crore as of February 10, 2026, according to data on the NSE. The company's continued investments in in-house engineering, asset-light execution, technology integration and risk management are expected to position it well to capitalise on India's infrastructure opportunity while creating long-term sustainable value for all stakeholders.
