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Ceigall India Limited (CEIGALL) Fair Value & Analysis

Industrials · IN · Market cap ₹66.5B

CI Ceigall India Limited CEIGALL · NSE
Price₹319.35
Fair Value₹375.97
Upside+17.7%
Quality41/100
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Expensive Growth
Thin margins · 7.8% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Moderate moat 51/100
Evidence: High Range ₹153.63 – ₹469.97 Share as image

Fair value as of: Aug 2, 2026

From 17 valuation models · updated 11 days ago

Share price −12.3% over the past month.

Below-average quality, screening 18% undervalued on our models.

What matters now

  • The model range is unusually wide (₹153.63 to ₹469.97). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from ₹153.63 (bear) to ₹469.97 (bull), base ₹375.97. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 41/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (2 years)

₹400.42 ₹226.39 Fair Value ₹375.97 Aug 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

24‑month range ₹226.39 – ₹400.42 · fair‑value band ₹153.63 – ₹469.97 · the ₹319.35 price screens below the ₹375.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Ceigall India Limited (CEIGALL) currently trades at ₹319.35, while our model-based Fair Value estimate is ₹375.97, implying the stock looks roughly 17.7% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Ceigall India Limited generated revenue of ₹40.2B at a net margin of 7.8%. Revenue grew 37.1% year over year. It earns a return on equity of 15.5%. Net debt stands at ₹9.3B. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹153.63 (bear case) to ₹469.97 (bull case); at ₹319.35, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 18%, CEIGALL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹121.41 ₹165.60 ₹563.89 76
ROIC Compounder ₹275.77 ₹412.41 ₹513.35 72
Gordon GGM ₹4.59 ₹9.55 ₹15.16 70
All 17 models by family
DCF Models
Owner Earnings ₹226.38 ₹546.85 ₹1,220 31
Earnings-Based
Graham-Dodd ₹121.74 ₹849.02 ₹1,191 54
Lynch FV ₹375.60 ₹536.57 ₹697.54 50
PEG = 1.0 ₹375.60 ₹536.57 ₹697.54 46
EPV ₹202.07 ₹239.88 ₹272.97 59
Dividend Discount
Gordon GGM ₹4.59 ₹9.55 ₹15.16 70
DDM Multi-Stage ₹4.59 ₹8.06 ₹10.03 61
Multiples
P/E Multiple ₹281.98 ₹375.97 ₹469.97 63
P/S Multiple ₹228.27 ₹304.36 ₹380.45 58
P/B Multiple ₹228.27 ₹304.36 ₹380.45 55
EV/EBIT ₹358.49 ₹486.27 ₹614.04 53
EV/EBITDA ₹302.83 ₹412.05 ₹521.27 54
EV/Revenue ₹248.76 ₹366.01 ₹483.26 43
Asset-Based
NCAV (Graham) ₹61.37 ₹82.23 ₹122.74 50
Economic Profit
Residual Income ₹121.41 ₹165.60 ₹563.89 76
ROIC Compounder ₹275.77 ₹412.41 ₹513.35 72
Growth Earnings
Growth-Adj P/E ₹461.34 ₹659.05 ₹856.77 68

Widest divergence: Growth Earnings (₹659.05) versus Dividend Discount (₹8.06). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹40.2B
Revenue growth (YoY) +37.1%
Net margin 7.8%
Return on equity 15.5%
Free cash flow −₹3.1B FY2026
P/E ratio 21.5
More key figures
Operating margin 15.0%
EPS (TTM) ₹17.73
EPS growth (YoY) +78.8%
Net debt ₹9.3B FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 39 · Market factors (momentum, volatility) 60

Profitability 42
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 57
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Ceigall India Limited operates as an infrastructure construction company in India. The company engages in the engineering, procurement, and construction of specialized structural works, including elevated roads, flyovers, bridges, railway overbridges and metro projects, tunnels, highways, expressways, and runways.

Full company description

Ceigall India Limited operates as an infrastructure construction company in India. The company engages in the engineering, procurement, and construction of specialized structural works, including elevated roads, flyovers, bridges, railway overbridges and metro projects, tunnels, highways, expressways, and runways. It also undertakes hybrid annuity model (HAM) projects; and operation and maintenance projects for maintaining lightning, electrical systems, and barriers, as well as road maintenance and incident management. Ceigall India Limited was incorporated in 2002 and is headquartered in Gurugram, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Ceigall India Limited reported revenue of ₹40.2B in FY2026 versus ₹11.2B in FY2022, a compound +37.7%/yr. Reported net income was ₹3.1B in FY2026, compounding +25.5%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹40.2B
Latest YoY
+29.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+25.9%
Revenue +37.7%/yr
FY22 ₹11.2B
FY23 ₹20.2B
FY24 ₹28.4B
FY25 ₹31.0B
FY26 ₹40.2B
Net income +25.5%/yr
FY22 ₹1.3B
FY23 ₹1.7B
FY24 ₹3.1B
FY25 ₹2.9B
FY26 ₹3.1B

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Cite: Fair Value Calculator (2026). "Ceigall India Limited Fair Value". https://www.fairvalue-calculator.com/stock/CEIGALL

Peer Group

Engineering & Construction · 840 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 41 · Below median
Fair Value upside +18% · Above median
Return on equity (TTM) 15% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth 37% · Top 25%
Debt / equity 0.38× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 21.5× · Pricier than median
P/B 3.11× · Pricier than 75% of peers
P/S (TTM) 1.65× · Pricier than 75% of peers
EV/EBITDA 12.1× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 57 · sector 13
FUTURE 100 · sector 17
PAST 62 · sector 26
HEALTH 81 · sector 94
DIVIDEND 0 · sector 33

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Ceigall India Limited (CEIGALL) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹375.97 versus a price of ₹319.35, about +18% (undervalued).
What is the fair value of CEIGALL?
Our model-based fair value for Ceigall India Limited is ₹375.97 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹319.35.
What is the quality score of CEIGALL?
Ceigall India Limited has a Quality Score of 41/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ceigall India Limited (CEIGALL)?
Ceigall India Limited reported trailing-twelve-month revenue of about ₹40.2B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of CEIGALL?
The net profit margin of Ceigall India Limited is about 7.8%, meaning it keeps roughly 7.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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