Ceigall India Limited · NSE:CEIGALL
Ceigall India — Q4 FY25 Earnings Presentation
38 slides from Ceigall India's earnings presentation, May 8, 2025
Slide 1: Exchange filing cover letter for investor presentation
Date: 08-05-2025 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 Q4 & FY25
INVESTOR PRESENTATION Q4 & FY25
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ceigall India Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securiti
Slide 4: Quarterly Business Performance
Quarterly Business Performance
Slide 5: Standalone Business Performance – Q4 & FY25
Standalone Business Performance – Q4 & FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) 14.2% 11.0% +17.2% 9,918 1,204 867 8,460 1,092 696 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) +15.5% 13.6% 12.2% 33,645 4,119 2
Slide 6: Consolidated Business Performance – Q4 & FY25
Consolidated Business Performance – Q4 & FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) 16.4% 12.6% +9% 10,116 1,526 1,081 9,319 1,279 724 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) 16.4% 14.6% +13.8% 34,179 4,923
Slide 7: Standalone Income Statement – Q4 & FY25
Standalone Income Statement – Q4 & FY25 Particulars (₹ million) Q4 FY25 Q4 FY24 Y-o-Y Q3 FY25 Q-o-Q FY25 FY24 Y-o-Y Revenue from Operations 9,918 8,460 8,101 33,645 29,137 Total Revenue 9,918 8,460 17.2% 8,101 22.4% 33,645 29,137 15.5% Cost of Material Consumed 2,554 2,786 2,655 9,883 9,721 Cost of
Slide 8: Consolidated Income Statement – Q4 & FY25
Consolidated Income Statement – Q4 & FY25 Particulars (₹ million) Q4 FY25 Q4 FY24 Y-o-Y Q3 FY25 Q-o-Q FY25 FY24 Y-o-Y Revenue from Operations 10,116 9,319 8,304 34,179 30,040 Total Revenue 10,116 9,319 8.5% 8,304 21.8% 34,179 30,040 13.8% Cost of Material Consumed 2,554 3,222 2,659 10,169 10,531 Cos
Slide 9: Net Working Capital Days
Net Working Capital Days 10 29 40 45 62 71 59 59 55 45 45 36 37 33 25 23 21 16 17 16 18 14 15 11 8 FY21 FY22 FY23 FY24 FY25 Inventory Debtors WIP Creditors Net Working Capital 8
Slide 10: Debt Positioning as on March 31, 2025
Debt Positioning as on March 31, 2025 Consolidated Debt ₹ Mn Term Loan - Equipment Term Loan 684.79 Net Debt to Equity (x) - Term Loan 4,336.85 - HAM Term Loan - Malout Abohar Sadhuwali (COD achieved on 06/06/2023) 2,432.51 (Three annuities received till date amounting to Rs. 1,283.22 million from N
Slide 11: Healthy Orderbook Giving Long Term Revenue Visibility
Healthy Orderbook Giving Long Term Revenue Visibility Balanced Mix of EPC and HAM projects ₹ 57,000.00 Mn (EPC) 23 Order Book as on Mar ‘25 ₹ 55,000.00 Mn (HAM) 1.3% 13.3% Ongoing Projects2 (14 EPC, 1 BOT and 8 HAM) 2.5% 0.0% Single NHAI Project bid Eligibility1 38.1% 1.3% 60.5% ₹ 1,08,062 Mn 79.87%
Slide 12: Strong Order Book – EPC & BOT Projects (1/2)
Strong Order Book – EPC & BOT Projects (1/2) Kms / Total Project % Balance Order Book as on Sr.No Project % Stake Authority State Type JV Partners Lanes Cost (Rs. Crs) Completion March 2025 (Rs. Crs) Construction of Four Laning of part of Ramban to Banihal (Package-III) in 1 100% NHAI J&K EPC 21.196
Slide 13: Strong Order Book - HAM Projects (2/2)
Strong Order Book - HAM Projects (2/2) Company's Debt as Balance Invested Total Debt share of on Mar’ Order Book Total Project Equity as on Sanctioned % Sr.No Project % Stake Authority State Kms/Lanes Status Invested 2025 (Rs. as on Cost (Rs. Crs) Mar’ 2025 (Rs. Crs) Completion Amount (Rs. Crs) Mar’
Slide 14: Company Overview
Company Overview
Slide 15: Ceigall India Limited: One of the Fastest Growing EPC Company
Ceigall India Limited: One of the Fastest Growing EPC Company Established Infrastructure Problem Construction Company Problem Healthy Order Book Problem Financials FY25 20+ Years ₹ 1,08,062 Mn ₹ 34,367 Mn Experience in Highways As on Dec 31, 2024 Revenue and Roads (FY22 – FY25 CAGR of 45%) 35+ 23 ₹
Slide 16: Ceigall's Strategy at a Glance
Ceigall's Strategy at a Glance Asset-Light Operating Model • Uses equipment leasing to minimize CAPEX and reduce R&M costs. • Enhances capital efficiency, operational agility, and margins. Robust Internal Audit & Risk Framework • Grant Thornton (GT) as Internal Auditor ensures regular audits and cer
Slide 17: The Road to Success
The Road to Success Over the last two decades, our Company has transitioned from a small construction company to an established EPC player2 2022 2023 2024 Acquired 50% stake in RK Infra to Allocated a contract for construction of Completed the first HAM improve project execution and 16.85- kilometre
Slide 18: 20+ years of Experience in Undertaking Specialized Structural Work
20+ years of Experience in Undertaking Specialized Structural Work 20+ years of Experience in Undertaking Specialized Structural Work Elevated Roads Flyovers and Bridges Rail Over Bridges (ROB) Tunnels Highways & Expressways Airport Runways Our Landmark Projects Delhi- Saharanpur PKG II Ismailabad-
Slide 19: Project Execution Capability Across Various States
Project Execution Capability Across Various States Jammu & Kashmir 2 2 Himachal Pradesh 7 Punjab 13 1 Delhi* 6 Uttar Pradesh 1 1 Haryana 4 2 Bihar 1 Rajasthan* 1 2 Jharkhand Ongoing Project (#’s) Completed Project (#’s) *These projects are under JVs 1 Odisha Maharashtra 1 Demonstrated Project Execut
Slide 20: Our Key Strategies
Our Key Strategies Led by Experienced Management Team Continue to Grow and Benefit from Diversification by leveraging Selectively expand our Continue to explore HAM Continue focusing on enhancing India’s Economy & Infrastructure Growth existing capabilities geographical footprint opportunities execu
Slide 21: Our Strengths
Our Strengths
Slide 22: Demonstrated Project Development, Execution and Operational Capabilities (1/2)
Demonstrated Project Development, Execution and Operational Capabilities (1/2) 35+ 1,916 2,159 Projects Completed, including 17 EPC Lane kms of roads and highways Lane kms of O&M Projects and 1 HAM constructed completed Received Awards for our Operational and 7 Projects completed ahead of schedule B
Slide 23: Demonstrated Project Development, Execution and Operational Capabilities (2/2)
Demonstrated Project Development, Execution and Operational Capabilities (2/2) • Experience in executing projects across diverse geographic locations Experience and • Specialized in construction in high-traffic and high-density areas Expertise • Construction of specialized structures such as tunnels
Slide 24: Efficient Business Model
Efficient Business Model Strategically Bidding • Careful identification of projects and cost optimization for Projects • Undertaking: technical surveys, feasibility studies and cost analysis • Ensuring high quality construction during execution stage to reduce maintenance and repair costs during Exe
Slide 25: Experienced Board of Directors
Experienced Board of Directors Diverse, Qualified and Experienced Board of Directors with experience across various sectors Ramneek Sehgal, Chitwon Wason, Anisha Motwani, Arun Goyal, Vishal Anand, Gurpreet Kaur, Managing Director Whole-Time Director Independent Director Independent Director Independ
Slide 26: Strong Managerial Personnel (1/2)
Strong Managerial Personnel (1/2) Led by Experienced Management Team Bhagat Singh, Kapil Agarwal, Megha Kainth, Ramesh Kumar Gupta, Group Chief Financial Officer Chief Financial Officer Company Secretary and Compliance Officer Chief Operating Officer • Responsible for assessing and • Responsible for
Slide 27: Strong Managerial Personnel (2/2)
Strong Managerial Personnel (2/2) Led by Experienced Management Team Deepak Kumar, Chitwon Wason, DINESH KUMAR MISRA , PAWAN KUMAR, Head HR Head BD Vice President Additional Director/ Whole Time Director • HR professional having more than • Having more than 24 years of • Having over 38 years of dive
Slide 28: Consolidated Financials Highlights
Consolidated Financials Highlights
Slide 29: Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (1/2)
Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (1/2) Consistent Growth In Order Book (₹ Mn) Significant Increase In Revenue (₹ Mn) Book to bill ratio (x) 5.6 5.2 3.1 3.2 34,367 1,08,090 1,08,062 30,294 92,258 20,682 63,461 11,338 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 EBIT
Slide 30: Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (2/2)
Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (2/2) Net Debt / EBITDA (times) Total Debt / Equity (times) 1.5 1.2 1.2 1.3 1.2 0.7 0.8 0.7 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 ROE % ROCE % 34 32 30 29 29 28 19 16 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 29
Slide 31: Consolidated Income Statement
Consolidated Income Statement Particulars (₹ million) FY25 FY24 FY23 FY22 Revenue from Operations 34,367 30,294 20,682 11,338 Total Revenue 34,367 30,294 20,682 11,338 Cost of Material Consumed 10,169 10,531 6,871 4,115 Cost of Construction 17,458 12,978 9,874 4,599 Total Raw Material 27,627 23,509
Slide 32: Consolidated Balance Sheet Statement (1/2)
Consolidated Balance Sheet Statement (1/2) Particulars (₹ million) FY 25 FY 24 FY 23 FY 22 ASSETS Non ‐ Current Assets Property, plant and equipment 3384 2,960 2,460 1,255 Capital work‐in‐progress 232 20 18 39 Right of use assets 4 49 28 - Intangible assets 3 1 0 1 Financial Assets (i) Investments 5
Slide 33: Consolidated Balance Sheet Statement (2/2)
Consolidated Balance Sheet Statement (2/2) Particulars (₹ million) FY 25 FY 24 FY 23 FY 22 Equity (a) Equity share capital 871 786 393 393 (b) Other equity 17455 8,092 5,538 3,920 Equity attributable to equity holders of the parent 18326 8,877 5,931 4,313 Non‐controlling interests 112 187 Total Equi
Slide 34: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement (₹ million) FY25 FY24 FY23 FY22 Cash Flow from Operating Activities Profit before Tax 3,846 4,054 2,252 1,695 Adjustment for Non-Operating Items -1,443 1,175 745 185 Operating Profit before Working Capital Changes 5,289 5,228 2,997 1,880 Changes i
Slide 35: Standalone Balance Sheet Statement (1/2)
Standalone Balance Sheet Statement (1/2) Particulars (₹ million) FY 25 FY 24 FY 23 FY 22 ASSETS Non ‐ Current Assets Property, plant and equipment 3141 2701 2460 1255 Capital work‐in‐progress 101 20 28 0 Right of use assets 4 49 18 39 Intangible assets 3 1 0 1 Financial Assets (i) Investments 3404 1
Slide 36: Standalone Balance Sheet Statement (2/2)
Standalone Balance Sheet Statement (2/2) Particulars (₹ million) FY 25 FY 24 FY 23 FY 22 Equity (a) Equity share capital 871 786 393 393 (b) Other equity 17121 7999 5720 3936 Total Equity 17,992 8,785 6,113 4,329 Liabilities Non ‐ Current Liabilities Financial liabilities (i) Borrowings 1663 1273 13
Slide 37: Standalone Cash Flow Statement
Standalone Cash Flow Statement Cash Flow Statement (₹ million) FY25 FY24 FY23 FY22 Cash Flow from Operating Activities Profit before Tax 3,616 3,680 2,472 1,710 Adjustment for Non-Operating Items -817 -758 -546 -181 Operating Profit before Working Capital Changes 4,432 4,438 3,018 1,891 Changes in W
Slide 38: Ceigall India Limited Contact and Investor Relations
COMPANY : CEIGALL INDIA LIMITED CIN : L45201PB2002PLC025257 ir@ceigall.com Email: ir@ceigall.com www.ceigall.com INVESTOR RELATIONS ADVISORS : Mr. Nikunj Jain +91 9769060608 nikunj.jain@in.mpms.mufg.com Mr. Viral Sanklecha +91 9987123158 Viral.sanklecha@in.mpms.mufg.com