Ceigall India Limited · NSE:CEIGALL
Ceigall India — Q4 FY26 Earnings Presentation
45 slides from Ceigall India's earnings presentation, May 7, 2026
Slide 1: Exchange filing cover letter
Date: 07-05-2026 To, To, The General Manager, Manager-Listing Compliance, Department of Corporate National Stock Exchange of India Limited, Services, BSE Limited Exchange Plaza, C-1, Block G, Bandra Kurla Phiroze Jeejeebhoy Towers Complex, Bandra East, Dalal Street, Mumbai- 400001 Mumbai – 400051 Sc
Slide 2: Ceigall India Limited Investor Presentation Q4 & FY26
CEIGALL INDIA LIMITED Investor Presentation | Q4 & FY26
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation and the accompanying slides (the “Presentation”) have been prepared by Ceigall India Limited (the “Company”) solely for informational purposes. They do not constitute an offer, recommendation, or invitation to purchase or subscribe to any securities, and shal
Slide 4: Table of Contents
TABLE OF CONTENTS 01 Key Highlights 02 Business Overview 03 Strategies 04 Quarterly Highlights 05 Historical Financials CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 5: Key Highlights
KEY HIGHLIGHTS DANAPUR BAHITA PROJECT CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 6: Management Commentary – Q4 & FY26
Management Commentary – Q4 & FY26 “ FY26 marked a strong year of growth, driven by consistent execution across our core EPC business and robust order inflows across highways and urban mobility. For Q4 FY26, consolidated revenue stood at INR 13,865 million, up 37.0% YoY, with EBITDA of INR 2,235 mill
Slide 7: Q4 & FY26 Performance Highlights (Standalone)
Q4 & FY26 Performance Highlights (Standalone) Revenue From Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 30.5% 11.0% 14.1% 7.0% 9.2% 12,941 1,826 1,189 Q4 FY26 9,918 1,092 696 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 (In INR Million) Revenue From Operations EBITDA & EBITDA Margin
Slide 8: Q4 & FY26 Performance Highlights (Consolidated)
Q4 & FY26 Performance Highlights (Consolidated) Revenue From Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 37.0% 12.6% 16.1% 7.2% 9.3% 13,865 2,235 1,290 Q4 FY26 10,116 1,279 724 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 (In INR Million) Revenue From Operations EBITDA & EBITDA Mar
Slide 9: Business Overview
BUSINESS OVERVIEW Bihar – Patna’s first double Decker flyover CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 10: Ceigall at a Glance
Ceigall at a Glance 23+ Years Legacy of Wide Geographical Proven Execution Diversified Operational Long term Expertise & footprint Capabilities Projects Excellence Visibility Excellence Visionary Board of Expanding Geographical Well Recognized Diversifying Across Committed to Growth Visibility Direc
Slide 11: Our Journey
Our Journey 2023 2024 2025 2026 • Completed the first HAM project • Listed on BSE & NSE Forayed into the • Global Foray: Ceigall Global (Malout-Abohar Project) before • Revenue Crossed INR Renewable Energy & Pte. Ltd. (Singapore) scheduled time Revenue Crossed 30,000 Million T&D sectors • Incorporat
Slide 12: Exploring Global Opportunities
Exploring Global Opportunities Building a Global Platform for Future Growth Ceigall Global Pte. Ltd., Ceigall EPC Global Contracting LLC, Singapore UAE Subsidiary (Incorporated November 2025) (Incorporated February 2026) • Wholly-owned subsidiary serving as international platform • Step-down subsidi
Slide 13: Landmark Projects
Landmark Projects KARTARPUR SAHIB 6 LANE HIGHWAY DELHI- SAHRANPUR PKG II ISMAILABAD- DHAND PKG I RAMBAN-BANIHAL PKG II won special award One of the longest six lane elevated Highway Access controlled greenfield project twin tube tunnel of 6 Km in J&K DANAPUR BAHITA PROJECT I KANPUR METRO AGRA METRO
Slide 14: Landmark Project: Sahebganj-Areraj-Bettiah Corridor
Landmark Project : Sahebganj-Areraj-Bettiah Corridor Project Overview LOA Received for Construction of 4 laning of SAHEBGANJ-ARERAJ-BETTIAH in Bihar. Construction Period Cumulative Value 2 years & 15-year O&M INR 21,600 Million Total Length Hybrid Annuity Mode 78.942 km (HAM) • Strengthens Ceigall's
Slide 15: Professionally Managed by Independent Professionals
Professionally Managed by Independent Professionals Ramneek Sehgal Dr. Sudhir Rao Hoshing Chitwon Wason Anisha Motwani Arun Goyal Vishal Anand Gurpreet Kaur (Chairman & MD) (Whole-Time Director) (Whole-Time Director) (Independent Director) (Independent Director) (Independent Director) (Independent D
Slide 16: Leadership Team
Leadership Team Mr. A. Saravanan Kapil Aggarwal (Chief Executive Officer) (Chief Financial Officer) • 32+ Years of Experience • 20+ Years of Experience • Holds a degree in Mechanical engineering; Proven executive • Responsible for tracking Cash Flow, Financial Planning & track record with leadership
Slide 17: Strategies
STRATEGIES Malout – Abohar (Punjab) CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 18: Diversification Paves The Way
Diversification Paves The Way Already made a Strong Presence in Further Diversifying Into Roads/ Highways/ Railways / Tunnels Bus Terminals Airport Runways Renewable Energy Transmission & Industrial Flyovers Metros Distribution Infrastructure Ongoing 23 3 1 1 - 6 1 2 Projects FY24 85% 15% Road order
Slide 19: Accelerating Presence in High-Potential Sectors
Accelerating Presence in High-Potential Sectors Renewables Industrial Infrastruture Transmission & Distribution • Received LOA for procurement of 190 MW Solar • Received LOI for construction of Internal Roads in • Establishment of the 400/220 kV Velgaon Power from MSEDCL Aerotropolis S.A.S Nagar Sub
Slide 20: Diversifying Projects
Diversifying Projects EPC HAM O&M DFBOT Tariff Based • Project management • Partial Financing • Asset Maintenance • Project Planning • Regulatory • Design & Engineering • Operations & • Road & Property • Stakeholder Approvals • Construction & Maintenance Management engagement • Revenue Ceigall’s Cap
Slide 21: Robust Order book
Robust Order book Order Book as at End of Year Order inflow During the Year Book to Bill Ratio (x) 1,85,543 1,13,320 4.8 3.1 3.2 1,08,062 92,257 50,593 35,835 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 (In INR Million) Ceigall is actively exploring avenues to expand our footprint in Build-Operate-
Slide 22: Order Book Details – EPC (1/2)
Order Book Details – EPC (1/2) Total Project Balance Order Book as Sr. % Project % Stake Authority State Type JV Partners Kms / Lanes Cost on 31.03.2026 (INR No. Completion (INR Million) Million) Construction of Four Laning of part of Ramban to Banihal (Package- 1 100% NHAI J&K EPC 21 54.1% III) in
Slide 23: Order Book Details – EPC (2/2)
Order Book Details – EPC (2/2) Total Project Balance Order Book as Sr. % Project % Stake Authority State Type JV Partners Kms / Lanes Cost on 31.03.2026 (INR No. Completion (INR Million) Million) Design and Construction of elevated viaduct and 3 Nos. elevated 11 100% UPMRC UP Item Rate 68.3% station
Slide 24: Order Book Details - HAM
Order Book Details - HAM Balance Invested Total Debt Debt as on Total Project Order Book Sr. Equity as on Sanctioned (INR Mae 2026 Project % Stake Authority State Kms/Lane Status Cost (INR % Completion as on No. Mar 2026 Million) (INR Million) Million) Mar 2026 (INR Million) (INR Million) Constructi
Slide 25: Order Book – DBFOT & Tariff Based
Order Book – DBFOT & Tariff Based Total Balance Order Book as Sr. Project Cost % Project % Stake Authority State Type JV Partners on 31.03.2026 No. (INR Completion (INR Million) Million) Development of Kanpur Central bus terminal, Uttar Pradesh on Design Build 1 100% UPSRTC Uttar Pradesh DBFOT - 1,4
Slide 26: Monetizing of Mature HAM Assets
Monetizing of Mature HAM Assets Objective The Approach Future Roadmap Ceigall has initiated a strategic program to monetise its Divest 100% equity in mature assets to long-term investors This transaction marks the start of a sustained monetization portfolio of completed and near-complete Hybrid Annu
Slide 27: Transaction Overview: Malout-Abohar Asset Sales
Transaction Overview: Malout-Abohar Asset Sales Successfully concluding the first milestone in our asset monetization roadmap Project Overview • Asset : Ceigall Malout Abohar Sadhuwali Highways Pvt. Ltd. (CMASHPL). Risk Transfer Growth Fuel • Scope: 4-Laning of Malout-Abohar Bypass to Sadhuwali (Pun
Slide 28: Presence Across Key Markets
Presence Across Key Markets FY24 Revenue Mix 03 01 Bihar Presence Across 12 States With humble beginnings in Punjab, J&K, 14.0% UP, 23.8% 07 28 Punjab Ceigall now possesses execution capabilities across 12 major states 01 05 Haryana in India FY24 Haryana, 9.5% Other, 01 02 Himachal Pradesh Punjab, 4
Slide 29: Stable & Diverse Client Base
Stable & Diverse Client Base Roads, Highways, Expressways, Flyover, Bridges, Tunnels and Industrial Infrastructure Metro & Railways T&D and Renewables CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 30: Optimizing Operational Efficiencies
Optimizing Operational Efficiencies Strategic Bidding Mechanism Asset Light Model ▪ Careful identification of projects and cost optimisation ▪ Rental equipment and equipment buyback model minimises capex and ▪ Undertaking: Technical surveys, feasibility studies, and cost analysis reduces raw materia
Slide 31: Delivering Results through Operational Efficiencies
Delivering Results through Operational Efficiencies Experience and Expertise Project Development and Execution Internal Controls and Processes ▪ Specialised in construction in high-traffic and high- ▪ In-house Engineering and Design Team ▪ Modern equipment to deliver quality projects density areas ▪
Slide 32: Awards & Accords
Awards & Accords Received Won Won Won LETTER OF SPECIAL AWARD GOLD AWARD Award for Fastest APPRECIATION FOR FOR Growing for showcasing OUTSTANDING EXCELLENCE Construction unwavering dedication during runway resurfacing WORK in Project Management – Company EPC at National Highways project at Air Forc
Slide 33: Quarterly Highlights
QUARTERLY HIGHLIGHTS Kanpur Metro CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 34: Q4 & FY26 Business Development
Q4 & FY26 Business Development INR 60,142 Million Order Inflow during Q4 FY26 Total Project Cost Sr. No Project Authority State Type Segment (INR Million) Jaipur Metro Phase II – Elevated Viaduct & 10 Stations (Incl. 1 JMRC 100% EPC Metro 7,780 Depot Spur) 2 NH-913 Huri–Taliha (0–55.7 km) – EPC Road
Slide 35: Order book Composition
Order book Composition INR 1,85,543 Million Order book as on 31.03.2026 HAM Madhya 48% Pradesh 16% Road Bihar 69% 17% Jharkhand 14% Bus terminal DFBOT 1% 1% Metro 2% Sector-wise Revenue Model- Geographical Breakup Breakup Rajasthan Split T&D 3% 4% Punjab Metro Tariff Based 13% 6% Maharashtra 21% 9%
Slide 36: Debt Positioning as on 31.03.2026
Debt Positioning as on 31.03.2026 Standalone Debt to Equity (x) Standalone Debt Mar 25 Mar 26 0.8 Term Loan 0.6 - Equipment Term Loan 183 125 - Term Loan 4,037 1,568 0.4 Working Capital Loan 2,139 0.2 2,430 Total Debt 6,359 4,123 FY23 FY24 FY25 FY26 Consolidated Debt Mar 25 Mar 26 Term Loan Consolid
Slide 37: Net Working Capital Days (Consolidated)
Net Working Capital Days (Consolidated) Inventory Days Debtor Days WIP Days 17 64 64 98 15 45 60 11 37 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 Creditor Days Net Working Capital Days 124 67 72 49 45 55 FY24 FY25 FY26 FY24 FY25 FY26 CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 38: Historical Financials
HISTORICAL FINANCIALS KARTARPUR SAHIB 6 LANE HIGHWAY CEIGALL INDIA LIMITED | INVESTOR PRESENTATION
Slide 39: Key Financial Ratios (Consolidated)
Key Financial Ratios (Consolidated) Revenue From Operations EBITDA & EBITDA Margins PAT & PAT Margins 17.1% 15.1% 14.6% 10.0% 8.3% 7.7% 40,224 34,367 5,854 30,294 3,043 2,864 3,089 5,177 5,183 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 (In INR Million) Bill to Book Ratio (x) Debt to Equity (x) ROE
Slide 40: Profit & Loss Statement (Quarterly)
Profit & Loss Statement (Quarterly) Standalone Consolidated Particulars Q4FY26 Q4FY25 Y-o-Y (%) Q4FY26 Q4FY25 Y-o-Y (%) 12,941 9,918 30.5% Revenue from Operations 13,865 10,116 37.1% 3,229 2,554 Cost of Material Consumed 3,229 2,554 7,499 5,841 Cost of Construction 7,942 5,840 2,213 1,523 45.3% Gros
Slide 41: Profit & Loss Statement (Annual)
Profit & Loss Statement (Annual) Standalone Consolidated Particulars FY24 FY25 FY26 FY24 FY25 FY26 29,547 33,848 38,693 Revenue from Operations 30,294 34,367 40,224 9,721 9,883 9,688 Cost of Material Consumed 10,531 10,169 9,688 13,993 18,171 22,727 Cost of Construction 12,978 17,458 23,087 5,833 5,
Slide 42: Balance Sheet – Standalone
Balance Sheet – Standalone Particulars (INR Million) FY24 FY25 FY26 Particulars (INR Million) FY24 FY25 FY26 ASSETS Equity Non ‐ Current Assets (a) Equity share capital 786 871 871 Property, plant and equipment 2,701 3,141 2,540 (b) Other equity 7,999 17,121 20,110 Capital work‐in‐progress 20 101 21
Slide 43: Balance Sheet – Consolidated
Balance Sheet – Consolidated Particulars (INR Million) FY24 FY25 FY26 Particulars (INR Million) FY24 FY25 FY26 ASSETS Equity Non ‐ Current Assets (a) Equity share capital 786 871 871 Property, plant and equipment 2,960 3,384 3,390 (b) Other equity 8,092 17,455 20,510 Capital work‐in‐progress 20 232
Slide 44: Cash Flow Statement
Cash Flow Statement Standalone Consolidated Particulars FY24 FY25 FY26 FY24 FY25 FY26 3,680 3,616 4,108 Profit before Tax 4,054 3,846 4,176 (758) (817) (865) Adjustment for Non-Operating Items 1,175 (1,443) (1,776) 4,438 4,432 4,974 Operating Profit before Working Capital Changes 5,228 5,289 5,952 (
Slide 45: Thank You
THANK YOU Ceigall India Limited Mr. Kapil Aggarwal Chief Financial Officer cfo@ceigall.com/ ir@ceigall.com Investor Relations Advisors Adfactors PR Arun Prakash/ Mohit Upadhyay arun.prakash@adfactorspr.com/ mohit.upadhyay@adfactorspr.com https://ceigall.com/ ISMAILABAD- DHAND PKG I