Ceigall India has secured a significant power transmission project worth ₹5,300 crore from REC Power Development and Consultancy Ltd (RECPDCL). According to a regulatory filing dated August 31, the project involves developing a common transmission system for evacuation of power from Lakadia Phase-II (7.5 GW), Jam Khambhaliya Phase-II (5.5 GW) and Jamnagar Phase-I (1 GW) — Part-B. The scope includes a 765/400 kV air-insulated substation (AIS) and approximately 300 km of transmission lines with a 36-month execution period and 35-year operational period. Under the terms of the tariff-based contract agreement, the order carries annual transmission charges of ₹608.67 crore for 35 years. The project forms part of the transmission infrastructure being developed to facilitate the evacuation of power from key renewable energy zones in Gujarat.
Following the announcement, Ceigall India shares rose over 2% after the company received the Letter of Intent (LoI) from RECPDCL. The stock has shown strong momentum with gains of 1% over the past week and 27% on a year-to-date basis. According to Business Standard, the company's consolidated net profit jumped 15.27% to ₹61.30 crore on a 15.68% increase in revenue from operations to ₹969.64 crore in Q1 FY27 over Q1 FY26. The project carries annual transmission charges of ₹608.67 crore for 35 years, as reported by the latest regulatory filing.
This win adds to Ceigall India's expanding order pipeline as the Ludhiana-based company diversifies beyond its traditional road-focused business. According to CNBC TV18, the company's confidence is underpinned by an order book of nearly ₹18,000 crore, which Chairman and Managing Director Ramneek Sehgal said was close to five times last year's revenue. The company is targeting ₹6,000 crore of fresh orders this year, with around ₹600 crore already secured in the first quarter and has bid for projects worth more than ₹25,000 crore so far this year. Ceigall India is an infrastructure engineering, procurement and construction (EPC) company engaged in the development of highways, expressways, bridges, flyovers, railway overbridges, tunnels and runways, executing projects under EPC and hybrid annuity modes.
Earlier in August, Chairman and Managing Director Ramneek Sehgal said the company expects revenue to grow by at least 15% this financial year, raising its target from the 10–15% growth range it had guided for over the previous two years. As reported by CNBC TV18, Sehgal noted that "When we IPOed, our company was around ₹2,900 crore, and last year we did ₹4,000 crore. We grew almost 30%. So this year, I am saying our minimum revenue growth would be minimum 15%." The company has maintained its EBITDA margin guidance of 11–12.5%, saying it had already exceeded this range in the first quarter.
Last week, Ceigall India received a ₹704.70-crore road construction order from the Ministry of Road Transport & Highways (MoRTH) for an 82.4-km stretch of the Frontier Highway in Arunachal Pradesh. According to CNBC TV18, the project involves construction of the Lada-Sarli section of NH-913, from km 85.60 to km 168.00, on an engineering, procurement and construction (EPC) basis. The company will execute this project through a joint venture with Sushee Infra & Mining Ltd, in which it will hold a 74% stake, with Sushee Infra holding the remaining 26%. In a recent development, the company's special purpose vehicle Ceigall Green Energy MH2 Limited successfully commissioned its first 5 megawatt (MW) solar power plant at Ranjangaon Deshmukh, Taluka Kopargaon, District Ahilyanagar, Maharashtra. The power plant was commissioned well ahead of schedule, making it eligible for applicable incentives under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0).
