Slide 1: Exchange filing cover letter
Date: 09-02-2026 To, To, The General Manager, Manager-Listing Compliance, Department of Corporate Services, National Stock Exchange of India Limited, Exchange BSE Limited Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra East, Dalal Street, Mumbai- 400001 Mumbai – 400051 Sc
Slide 2: Investor Presentation Q3 & 9M FY26
Investor Presentation Q3 & 9M FY26 NSE: CEIGALL | BSE: 544223
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 02 03 04 05 06
Slide 5: Business Overview
Business Overview Celgall
Slide 6: Ceigall at a Glance
Ceigall at a Glance One of the leading players in India’s infrastructure sector, renowned for its expertise in Engineering, Procurement, & Construction (EPC) projects, with a track record of executing complex projects, including highways, expressways, bridges, flyovers and urban transportation syste
Slide 7: Proven Execution Excellence
Proven Execution Excellence Figures in Rs. Million c Order Book Revenue EBITDA 1,08,062 34,367 5,184 63,461 11,338 1,859 FY22 FY25 FY22 FY25 FY22 FY25 Grew at a 19% CAGR from FY22-25 Grew at a 45% CAGR from FY22-25 Grew at a 41% CAGR from FY22-25 Projects Completed till date: 37 Projects in Executio
Slide 8: 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 9: Our Journey from Foundation to a Distinguished EPC Powerhouse
Our Journey from Foundation to a Distinguished EPC Powerhouse 2024 2026 2022 Listed on BSE & NSE; Global Foray: Ceigall Global Pte. Revenue Crossed Rs. 10,000 Revenue Crossed Rs. 30,000 Million; Ltd. (Singapore); Incorporated 2018 Million Acquired 50% stake in RK Infra Indo-Ujjain Greenfield Project
Slide 10: Expanding Global Footprint
Expanding Global Footprint Building a Global Platform for Future Growth Ceigall Global Pte. Ltd., Singapore Proposed Dubai, UAE Subsidiary** (Incorporated November 2025) (Under incorporation) • Wholly-owned subsidiary serving as international platform for • Step-down subsidiary through Singapore ent
Slide 11: Building the Future: Our Landmark Projects
Building the Future: Our Landmark Projects Kartarpur Sahib Delhi- Saharanpur PKG II Ismailabad- Dhand PKG I Ramban-Banihal PKG II 6 Lane highway including bridges Constructed in one of the congested Access-controlled greenfield corridor Construction of a twin tube tunnel of Won Special awa
Slide 12: Landmark Project: Sahebganj-Areraj-Bettiah Corridor
Landmark Project : Sahebganj-Areraj-Bettiah Corridor Project Overview • L1 Bidder for Construction of 4 laning of Sahebganj-Areraj-Bettiah in Bihar. • Construction Period : 2 years & 15 year O&M • Total Length : 78.942 km Cumulative Value: Rs. 21,600 Million Hybrid Annuity Mode (HAM) • Strengthens C
Slide 13: Our Visionary Board of Directors
Our Visionary Board of Directors Professionally managed, merit-based organisation, led by independent professionals Ramneek Sehgal Dr. Sudhir Rao Chitwon Wason Anisha Motwani Arun Goyal Vishal Anand Gurpreet Kaur (Chairman cum Hoshing (Whole-Time Director) (Independent (Independent (Independent (Ind
Slide 14: Empowered Leadership Team
Empowered Leadership Team Kapil Aggarwal Megha Kainth (Chief Financial Officer) (Company Secretary & Compliance Officer) 20+ Years of Experience 23+ Years of Experience Responsible for tracking Cash Flow, Financial Planning & Analysing Responsible for Secretarial Compliance and Corporate Gov
Slide 15: Strategies for Growth
Strategies for Growth I ) Cel | PURSUIT gall
Slide 16: Strategies for Growth
Strategies for Growth Strategic Diversification: Strengthening Our Robust Orderbook Expanding Horizons Presence Across Key Ensuring Sustainable through Core Indian Markets Growth Competencies Diversifying Projects for Diverse Clientele Across Driving Success Enhanced Growth and Key Infra Sectors Thr
Slide 17: Strategic Diversification: Expanding Horizons through Core Competencies
Strategic Diversification: Expanding Horizons through Core Competencies Focussing on leveraging expertise in roads, highways, expressways, flyovers, bridges, tunnels, to diversify into high-growth high-potential sectors like Airport Runways, Renewables & others Already made a Strong Presence in Furt
Slide 18: Foray into the high-potential Sectors (1/2)
Foray into the high-potential Sectors (1/2) Renewables Transmission & Distribution • Received LOA for procurement of 190 MW Solar Power from MSEDCL Establishment of the 400/220 kV Velgaon • Received LOA for Solar PV based power plant Substation (GIS) (SPP) under Surya Mitra Krishi Feeders Scheme • L
Slide 19: Foray into the high-potential Sectors (2/2)
Foray into the high-potential Sectors (2/2) Industrial Infrastructure • Received LOI for construction of Internal Roads in Aerotropolis S.A.S Nagar • L1 Bidder for Development of Bulk Drug Park at Una Distt. Cumulative Value: Rs. 6,220 Million Item Rate model Expanding into specialised industries wi
Slide 20: Diversifying Projects for Enhanced Growth and Profitability
Diversifying Projects for Enhanced Growth and Profitability EPC HAM O&M DFBOT Tariff Based • Project management • Partial Financing • Asset Maintenance • Design & Engineering • Project Planning • Operations & • Road & Property • Regulatory Approvals • Construction & • Stakeholder Ceigall’s Capabilit
Slide 21: Strengthening Our Presence Across Key Indian Markets
Strengthening Our Presence Across Key Indian Markets With humble beginnings in Punjab, Ceigall now possesses Revenue Mix execution capabilities across 12 major states in India Haryana, 8.2% Bihar, 31.6% Bihar Punjab Haryana 02 07 01 01 27 05 FY25 UP, 13.9% Punjab, J&K, 11.7% 31.9% Himachal Jammu & J
Slide 22: Diverse Clientele Across Key Infra Sectors
Diverse Clientele Across Key Infra Sectors Roads, Highways, Expressways, Flyover, Bridges, Metro & Railways T&D and Renewables Tunnels and Industrial Infrastructure 21
Slide 23: Robust Order book Ensuring Sustainable Growth
Robust Order book Ensuring Sustainable Growth Figures in Rs. Million c Order Book as at End of Year Order Inflow During the Year Book to Bill Ratio (x) 3.2 1,32,681 3.1 50,593 51,496 1,08,062 92,257 35,835 FY24 FY25 9MFY26 FY24 FY25 9MFY26 FY24 FY25 Ceigall is actively exploring avenues to expand ou
Slide 24: Driving Success Through Operational Excellence
Driving Success Through Operational Excellence 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 Focu
Slide 25: Received Multiple Awards & Recognitions for Operational Excellence
Received Multiple Awards & Recognitions for Operational Excellence Ceigall has been honoured and recognized by the industry for its landmark achievements over the years. Some select awards are as follows: Received Letter of Appreciation for Won Special Award for Outstanding Won Gold Award for Excell
Slide 26: Alignment with India's Economic Momentum
sees Alignment with India’s Economic Momentum
Slide 27: Indian Infrastructure Industry to Witness Sustained Growth
Indian Infrastructure Industry to Witness Sustained Growth India Construction c India Infrastructure Continued High Investment Momentum Industry (Rs. Tn) Industry (Rs. Tn) in Key Infrastructure Sectors 10% CAGR 10% CAGR 12.0 14.4 12 11.2 38.5 10.5 9.7 9.9 9.4 12% CAGR 10 12% CAGR 24.0 9.0 8 6 INR Tn
Slide 28: All Segments Expected to Grow
All Segments Expected to Grow Roads and bridges Infrastructure Industry Size (Rs. Tn) c Railways Infrastructure Industry Size (Rs. Tn) 10% CAGR 9% CAGR 2,201.3 3,579.8 7% CAGR 19% CAGR 2,246.9 1,404.3 1,618.9 577.9 FY18 FY23 FY28P FY18 FY23 FY28P India Energy & Utilities Infrastructure Market Size A
Slide 29: Government's Focus on Infra Providing Strong Tailwinds
Government’s Focus on Infra Providing Strong Tailwinds Budget Allocation (Capex) for the Railways Sector (Rs. Tn) Major Infrastructure Development Plans in India 2.6 2.7 Gati Shakti 2.1 Focus: Significant public investment for modern infrastructure Investment: Rs 750 Billion for 100 critical tra
Slide 30: Quarterly Performance Highlights
Quarterly Performance Highlights Celgall
Slide 31: Q3 & 9M FY26 Performance Highlights (Standalone)
Q3 & 9M FY26 Performance Highlights (Standalone) Figures in Rs. Million Revenue from Operations EBITDA c& EBITDA Margin (%) PAT & PAT Margin (%) 19.8% 13.0% 12.3% 8.4% 7.7% 9,699 Q3FY26 8,102 1,195 1,050 682 745 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 7.6% 13.5% 11.8% 8.4% 7.2% 25,752 23,930 3,230
Slide 32: Q3 & 9M FY26 Performance Highlights (Consolidated)
Q3 & 9M FY26 Performance Highlights (Consolidated) Figures in Rs. Million Revenue from Operations EBITDA c& EBITDA Margin (%) PAT & PAT Margin (%) 19.3% 14.9% 14.0% 8.5% 7.3% 9,911 Q3FY26 8,305 1,391 1,234 708 724 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 8.7% 16.1% 13.7% 8.8% 6.8% 26,359 24,251 3,9
Slide 33: Profit & Loss Statement
Profit & Loss Statement Single digit % Figures in Rs. Million Standalone Consolidated Particulars Q3FY26 Q3FY25 9MFY26 9MFY25 Q3FY26 Q3FY25 9MFY26 9MFY25 9,699 8,102 25,752 23,930 Revenue from Operations 9,911 8,305 26,359 24,251 2,272 2,655 6,458 7,330 Cost of Material Consumed 2,272 2,659 6,458 7,
Slide 34: Q3 & 9M FY26 Business Highlights
Q3 & 9M FY26 Business Highlights Rs. 14,026 Million Order Inflow during Q3 FY25 Total Project Sr. No Project Authority State Type Segment Cost (Rs. Million) Construction of Indore–Ujjain Greenfield (Access Control) 4-lane with paved shoulder project highway 1 (length 48.10 km), starting from Km 0.00
Slide 35: Unlocking Capital: Strategic Monetization of Mature HAM Assets
Unlocking Capital: Strategic Monetization 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 portfolio of completed and near
Slide 36: 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). Growth Fuel Risk Transfer • Scope: 4-Laning of Malout-Abohar Bypass to Sadhuwali (Punj
Slide 37: Order Book Composition
Order Book Composition Rs. 1,32,681 Million Order Book as on 31.12.2025 c 51.0% 15.6% 64.2% 19.5% 0.6% 10.2% 1.1% 1.4% 1.1% 0.0% 2.6% 2.2% 2.9% 0.2% 4.7% 26.9% 16.8% 21.0% 21.8% 23.9% 12.4% Jharkhand Punjab Bihar Roads / Highways / Flyovers Renewable Energy Industrial Infrastructure Transmission & D
Slide 38: Order Book Details - EPC
Order Book Details - EPC Total Project Sr. Kms / % Balance Order Book as on Project % Stake Authority State Type JV Partners Cost No. Lanes Completion 31.12.2025 (Rs. Million) (Rs. Million) Construction of Four Laning of part of Ramban to Banihal (Package-III) in the UT 1 100% NHAI J&K EPC 21 3690 4
Slide 39: Order Book Details – HAM
Order Book Details – HAM Balance Invested Company's Total Debt Debt as Order Total Equity as share of Sanctioned on Dec % Book as Sr. % Project Project Authority State Kms/Lane Status on Dec Invested (Rs. 2025 (Rs. Completi on No. Stake Cost (Rs. 2025 (Rs. Amount Million) Million) on Dec 2025 Millio
Slide 40: Order Book Details – DBFOT & Tariff Based
Order Book Details – DBFOT & Tariff Based Total Balance Order Book as S. % Project % Stake Authority State Type JV Partners Project Cost on 31.12.2025 No. Completion (Rs. Million) (Rs. Million) Development of Kanpur Central bus terminal, Uttar Pradesh on Design Build 1 100% UPSRTC Uttar Pradesh DBFO
Slide 41: Debt Positioning as on 31.12.2025
Debt Positioning as on 31.12.2025 Figures in Rs. Million Standalone Debt Mar 25 Dec 25 Standalone Debt to Equity (x) Term Loan - Equipment Term Loan 183 115 0.8 0.6 - Term Loan 4,037 2,093 Working Capital Loan 2,139 3,311 0.4 0.3 Total Debt 6,359 5,519 Consolidated Debt Mar 25 Dec 25 FY23 FY24 FY25
Slide 42: Net Working Capital Days (Consolidated)
Net Working Capital Days (Consolidated) Net Working 40 45 62 57 Capital Days 125 104 71 66 59 59 55 45 45 36 37 33 16 18 15 12 FY23 FY24 FY25 9M FY26 Inventory Debtors WIP Creditors 41
Slide 43: Historical Performance Highlights
Historical Performance Highlights Celgall
Slide 44: Key Financial Highlights – Standalone (1/2)
Key Financial Highlights – Standalone (1/2) Figures in Rs. Million Revenue from Operations EBITDA & EBITDA Margin PAT & PAT Margin CAGR 28% 20% 21% 14.4% 14.8% 12.8% 9.0% 9.4% 8.0% 33,848 2,769 2,702 29,547 4,386 4,322 20,653 1,853 2,983 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 43
Slide 45: Key Financial Highlights – Standalone (2/2)
Key Financial Highlights – Standalone (2/2) Net Debt to EBITDA (x) Debt to Equity (x) 0.8 0.4 0.6 0.4 0.4 0.2 FY23 FY24 FY25 FY23 FY24 FY25 Return on Equity (%) Return on Capital Employed (%) 32.0% 42.0% 30.0% 38.0% 22.0% 15.0% FY23 FY24 FY25 FY23 FY24 FY25 44
Slide 46: Key Financial Highlights – Consolidated (1/2)
Key Financial Highlights – Consolidated (1/2) Figures in Rs. Million Revenue from Operations EBITDA & EBITDA Margin PAT & PAT Margin CAGR 29% 32% 31% 14.3% 17.1% 15.1% 8.1% 10.0% 8.3% 34,367 30,294 3,043 5,177 5,184 2,866 20,682 2,957 1,674 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 45
Slide 47: Key Financial Highlights – Consolidated (2/2)
Key Financial Highlights – Consolidated (2/2) Book To Bill Ratio (x) Debt to Equity (x) 1.2 1.2 5.2 0.8 3.1 3.2 FY23 FY24 FY25 FY23 FY24 FY25 Net Debt to EBITDA (times) ROE (%) & ROCE (%) 34.0% 1.5 32.0% 1.3 28.0% 29.0% 1.2 19.0% 16.0% FY23 FY24 FY25 FY23 FY24 FY25 46
Slide 48: Profit & Loss Statement
Profit & Loss Statement Figures in Rs. Million Standalone Consolidated CAGR Particulars CAGR FY23 FY24 FY25 FY23 FY24 FY25 (FY23-25) (FY23-25) 20,653 29,547 33,848 28.0% Revenue from Operations 20,682 30,294 34,367 28.9% 6,871 9,721 9,883 Cost of Material Consumed 6,871 10,531 10,169 9,845 13,993 18
Slide 49: Standalone Balance Sheet
Standalone Balance Sheet Particulars (Rs. Million) FY23 FY24 FY25 H1FY26 Particulars (Rs. Million) FY23 FY24 FY25 H1FY26 ASSETS Equity Non ‐ Current Assets (a) Equity share capital 393 786 871 871 Property, plant and equipment 2,460 2,701 3,141 2,729 (b) Other equity 5,720 7,999 17,121 18,172 Capita
Slide 50: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (Rs. Million) FY23 FY24 FY25 H1FY26 Particulars (Rs. Million) FY23 FY24 FY25 H1FY26 ASSETS Equity Non ‐ Current Assets (a) Equity share capital 393 786 871 871 Property, plant and equipment 2,460 2,960 3,384 3,238 (b) Other equity 5,538 8,092 17,455 18,499 Capi
Slide 51: Cash Flow Statement
Cash Flow Statement Figures in Rs. Million Standalone Consolidated Particulars FY23 FY24 FY25 H1FY26 FY23 FY24 FY25 H1FY26 2,472 3,680 3,616 1,487 Profit before Tax 2,252 4,054 3,846 1,447 (546) (758) (817) 407 Adjustment for Non-Operating Items 745 1,175 (1,443) 820 3,018 4,438 4,432 1,895 Operatin
Slide 52: Annexures
& ™ Annexures jwiom \, 7
Slide 53: Shareholding Information
Shareholding Information Shareholder Information DII as on 31st December 2025 5.1% FII 2.9% BSE Ticker 544223 NSE Symbol CEIGALL Others 10.0% Market Cap (in Rs. Million) 46,852 % Free- float 17.9% Free Float Market Cap (in Rs. Million) 8,387 Shares Outstanding (Million) 174.2 Promoters 3M ADTV (Shar
Slide 54: Thank You
THANK YOU Ceigall India Limited Mr. Kapil Aggarwal Chief Financial Officer cfo@ceigall.com ir@ceigall.com Adfactors PR Mohit Upadhyay / Parth Chauhan Tel: +91 9664235903 / 9082323003 mohit.upadhyay@adfactorspr.com / parth.chauhan@adfactorspr.com https://ceigall.com/