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CEIGALL INDIA Q2 FY27 results: net profit up 64.1% to ₹92.17 crore, revenue up 26.8%
CEIGALL INDIA LIMITED reported consolidated Q2 FY27 revenue of ₹1,022 crore and net profit of ₹92.17 crore for the July–September 2026 quarter. Revenue rose 26.8% from Q2 FY26, while EBITDA increased 53.2% to ₹174.04 crore and the margin expanded 2.9 percentage points to 17.0%.
Key points
- Consolidated revenue was ₹1,022 crore, up 26.8% from ₹806.57 crore in Q2 FY26 and 5.4% from ₹969.64 crore in Q1 FY27.
- EBITDA was ₹174.04 crore, up 53.2% year on year and 21.4% sequentially, while the margin rose to 17.0% from 14.1% and 14.8%, respectively.
- Net profit was ₹92.17 crore, up 64.1% from Q2 FY26 and 44.6% from Q1 FY27; basic EPS was ₹5.29.
- H1 FY27 revenue was ₹1,992.12 crore and net profit was ₹155.91 crore, up 21.1% and 45.0% from H1 FY26.
- The board approved a plan to raise funds of up to ₹1,000 crore, subject to shareholder approval through a postal ballot.
How did CEIGALL INDIA perform in Q2 FY27?
CEIGALL INDIA reported consolidated revenue of ₹1,022 crore in Q2 FY27, up 26.8% from ₹806.57 crore in Q2 FY26 and 5.4% from ₹969.64 crore in Q1 FY27. EBITDA was ₹174.04 crore, compared with ₹113.62 crore a year ago and ₹143.37 crore in the previous quarter. The EBITDA margin was 17.0%, up 2.9 percentage points year on year and 2.2 percentage points sequentially.
Profit before tax rose to ₹124.10 crore from ₹77.23 crore in Q2 FY26 and ₹95.36 crore in Q1 FY27. Net profit increased to ₹92.17 crore from ₹56.16 crore a year ago and ₹63.75 crore in the previous quarter, while basic EPS was ₹5.29. On the standalone basis, revenue was ₹974.5 crore and net profit was ₹81.97 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,022 | 969.64 | 806.57 | +26.8% | +5.4% |
| Other income | 5.66 | 11.44 | 16.65 | −66.0% | −50.5% |
| Total expenses | 904.03 | 883.21 | 746 | +21.2% | +2.4% |
| EBITDA | 174.04 | 143.37 | 113.62 | +53.2% | +21.4% |
| EBITDA margin | 17.0% | 14.8% | 14.1% | +2.9 pp | +2.2 pp |
| Profit before tax | 124.10 | 95.36 | 77.23 | +60.7% | +30.1% |
| Tax | 31.94 | 31.61 | 21.07 | +51.6% | +1.0% |
| Net profit | 92.17 | 63.75 | 56.16 | +64.1% | +44.6% |
| EPS (₹) | 5.29 | 3.66 | 3.22 | +64.3% | +44.5% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in CEIGALL INDIA's costs and profit?
Total expenses increased 21.2% to ₹904.03 crore from ₹746 crore in Q2 FY26. Other expenses rose by ₹174.94 crore to ₹665.23 crore, employee cost increased by ₹2.87 crore to ₹12.04 crore, and finance costs increased by ₹5.51 crore to ₹42.80 crore. Cost of materials fell by ₹22.33 crore to ₹171.16 crore, while depreciation fell by ₹2.97 crore to ₹12.79 crore.
Other income fell by ₹10.99 crore to ₹5.66 crore from ₹16.65 crore in the year-ago quarter. There was no exceptional item in Q2 FY27, against a ₹2.52 crore charge in Q1 FY27. Tax expense increased by ₹10.87 crore to ₹31.94 crore from ₹21.07 crore, while profit before tax rose by ₹46.87 crore to ₹124.10 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 171.16 | 193.49 | −22.33 | −11.5% |
| Employee cost | 12.04 | 9.17 | +2.87 | +31.3% |
| Finance costs | 42.80 | 37.29 | +5.51 | +14.8% |
| Depreciation | 12.79 | 15.76 | −2.97 | −18.8% |
| Other expenses | 665.23 | 490.29 | +174.94 | +35.7% |
| Total expenses | 904.03 | 746 | +158.03 | +21.2% |
| Other income | 5.66 | 16.65 | −10.99 | −66.0% |
| Tax | 31.94 | 21.07 | +10.87 | +51.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹1,992.12 crore, up ₹347.37 crore or 21.1% from ₹1,644.75 crore in H1 FY26. Total income increased 19.9% to ₹2,009.22 crore from ₹1,675.84 crore, while profit before tax rose 51.7% to ₹219.46 crore from ₹144.65 crore.
H1 FY27 net profit was ₹155.91 crore, up ₹48.41 crore or 45.0% from ₹107.5 crore in H1 FY26. Basic EPS increased by ₹2.78 to ₹8.95 from ₹6.17.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,992 | 1,645 | +21.1% |
| Profit before tax | 219.46 | 144.65 | +51.7% |
| Net profit | 155.91 | 107.50 | +45.0% |
| EPS (₹) | 8.95 | 6.17 | +45.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹5,856.9 crore as on 30 September 2026 from ₹5,523.36 crore on 31 March 2026, while total equity rose to ₹2,293.82 crore from ₹2,146.41 crore. Borrowings were higher at ₹1,730.27 crore against ₹1,309.96 crore, and cash fell to ₹200.43 crore from ₹280.27 crore. Inventories were ₹123.51 crore, trade receivables were ₹651.25 crore, and trade payables were ₹1,416.94 crore.
H1 FY27 operating cash flow was negative ₹428.97 crore, compared with negative ₹173.13 crore in H1 FY26. Investing cash flow was ₹18.43 crore against negative ₹1.29 crore, financing cash flow was ₹330.69 crore against negative ₹141.04 crore, and capital expenditure was ₹232.46 crore compared with ₹33.09 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 5,857 | 5,523 |
| Total equity | 2,294 | 2,146 |
| Borrowings | 1,730 | 1,310 |
| Cash and equivalents | 200.43 | 280.27 |
| Inventories | 123.51 | 99.19 |
| Trade receivables | 651.25 | 635.70 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −428.97 | −173.13 |
| Cash from investing | 18.43 | −1.29 |
| Cash from financing | 330.69 | −141.04 |
| Capital expenditure | 232.46 | 33.09 |
Source: Company's results filing (XBRL).
How has CEIGALL INDIA done over the last 8 quarters?
Revenue increased year on year in each of the last six quarters. Across the reported period, revenue was highest at ₹1,386.51 crore in Q4 FY26 and lowest at ₹806.57 crore in Q2 FY26, before rising to ₹1,022.48 crore in Q2 FY27. Net profit reached ₹129.03 crore in Q4 FY26 and was lowest at ₹51.34 crore in Q1 FY26, before rising to ₹92.17 crore.
EBITDA margin also reached its period high of 17.0% in Q2 FY27, compared with the low of 12.6% in Q4 FY25. Net profit increased year on year in each of the last four quarters. Revenue rose from ₹969.64 crore in Q1 FY27 to ₹1,022.48 crore in Q2 FY27, while net profit rose from ₹63.75 crore to ₹92.17 crore.
Which businesses drove the quarter?
Engineering, Procurement and Construction reported revenue of ₹896.38 crore in Q2 FY27, up 25.0% from ₹717.15 crore in Q2 FY26. Segment EBIT rose to ₹120.94 crore from ₹80.6 crore, with an EBIT margin of 13.5%.
Annuity Projects reported revenue of ₹372.0 crore, up 17.9% from ₹315.4 crore, and EBIT of ₹39.82 crore compared with ₹17.16 crore. Its EBIT margin was 10.7%. Others recorded revenue of ₹83.66 crore, up 11.7% from ₹74.92 crore, and EBIT of ₹0.47 crore, while eliminations showed revenue of negative ₹329.57 crore and EBIT of ₹0.02 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Engineering, Procurement and Construction | 896.38 | +25.0% | 120.94 | 13.5% |
| Annuity Projects | 372 | +17.9% | 39.82 | 10.7% |
| Others | 83.66 | +11.7% | 0.47 | 0.6% |
| Eliminations | −329.57 | 0.02 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
On 5 November 2026, the board approved raising funds of up to ₹1,000 crore through equity shares and/or other securities, including convertible instruments, subject to regulatory approvals and shareholder approval by special resolution through a postal ballot. The board also proposed increasing authorised share capital from ₹110 crore to ₹120 crore, subject to shareholder approval by ordinary resolution through a postal ballot.
The board appointed Chandan Singh as an Additional Director and Whole Time Director for a term of 3 years effective from 5 November 2026, subject to shareholder approval. It also approved in-principle execution of binding offer letters with Neo Alternative Asset Managers Private Limited, subject to requisite approvals under applicable laws. No dividend was stated in the same-day filing.
What did the auditors point out?
B D Bansal, Chartered Accountants, issued a limited review report and stated that it did not express an audit opinion because a review is substantially less in scope than an audit. The auditors said nothing had come to their attention that caused them to believe the statement was not prepared in accordance with the applicable accounting principles and Listing Regulations.
The review report included an emphasis of matter because the auditors did not review the interim results of two jointly controlled operations. Those operations reported total assets of Rs. 492.37 million as on 30 September 2026 and total revenues of Rs. 491.25 million for the quarter and the period from 1 April 2026 to 30 September 2026. Their results were reviewed by other auditors whose reports were furnished to management.
How did CEIGALL INDIA shares react?
The filing appeared during market hours at ₹398.45, against the previous close of ₹396.0. The stock was up 0.1% after 5 minutes, then fell 1.1% after 15 minutes and 1.9% after 30 minutes. Reaction-day, next-day, five-day and industry-median comparisons were not available at the time of publication.
Earlier reaction-day moves were negative on 8 August 2026, when the stock fell 5.1%, and on 9 February 2026, when it fell 1.4%. It was positive on 28 April 2026 at 0.6%, and the stock fell 4.8%, 5.7% and 0.9% on the results days of 8 August 2025, 8 May 2025 and 4 February 2025, respectively.
| After the filing | Stock |
|---|---|
| 5 minutes | +0.1% |
| 15 minutes | −1.1% |
| 30 minutes | −1.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 8 August 2026 | −5.1% |
| 28 April 2026 | +0.6% |
| 9 February 2026 | −1.4% |
| 11 November 2025 | +0.1% |
| 8 August 2025 | −4.8% |
| 8 May 2025 | −5.7% |
| 4 February 2025 | −0.9% |
| 5 November 2024 | −3.0% |
Source: MarketPing price-reaction measurement.
How did other Civil Construction companies do?
A total of 28 other Civil Construction companies had filed results for the quarter by 5 November 2026. Their median revenue growth was 8.9%, compared with CEIGALL INDIA’s consolidated revenue growth of 26.8%. Of the other companies, 19 grew more slowly than CEIGALL INDIA and 9 grew faster.
Among the 28 peers, 21 reported higher profit. CEIGALL INDIA’s revenue was measured against all 28 peers, while its profit was also compared with 28 companies in the peer set.
| CEIGALL INDIA revenue growth (YoY) | +26.8% |
|---|---|
| Median of 28 other Civil Construction companies | +8.9% |
| Companies with slower revenue growth than CEIGALL INDIA | 19 of 28 |
| Companies with faster revenue growth than CEIGALL INDIA | 9 of 28 |
| Companies whose net profit rose | 21 of 28 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was CEIGALL INDIA's revenue in Q2 FY27?
Revenue from operations was ₹1,022 crore, up 26.8% from ₹806.57 crore in Q2 FY26 (consolidated).
Did CEIGALL INDIA make a profit in Q2 FY27?
Yes. Net profit was ₹92.17 crore, against a net profit of ₹56.16 crore in Q2 FY26.
What was CEIGALL INDIA's EPS in Q2 FY27?
Basic earnings per share were ₹5.29, against ₹3.22 in Q2 FY26.
When did CEIGALL INDIA announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Intimation For The Meeting Of The Board Of Directors Of Ceigall India Limited (BSE, 27 October 2026) · PDF
- Closure of Trading Window (BSE, 27 October 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
- Integrated Filing- Financial (NSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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