| Market Cap | ₹6,658.11 CrSmall Cap |
|---|---|
| Revenue TTM | ₹4,022.4 CrAnnual Operating |
| RSI | 63.44Stable Range |
| Order from | Rewa Ultra Mega Solar Limited |
| Execution period | Construction: 18 months; Operational: 25 years |
| Deal value | ₹1,700 Cr |
| Share of market cap | 25.5% |
| Share of annual revenue | 42.3% |
Key highlights
- Total approximate project value stands at ₹1,700 Crores, including GST
- Contract involves 220 MW capacity at Morena Solar Park, Madhya Pradesh
- Company quoted a tariff of ₹2.70/kWh for the solar and storage project
- Construction period is 18 months with a subsequent 25-year operational term
- Awarded by Rewa Ultra Mega Solar Limited, a domestic entity JV
What Is the Order?
Ceigall Morena Solar BESS Park Limited, a wholly-owned subsidiary of Ceigall India Limited, has executed a Power Purchase Agreement (PPA) with Rewa Ultra Mega Solar Limited. The agreement pertains to a 220 MW project at the Morena Solar Park in Madhya Pradesh. This project follows a tariff-based competitive bidding process, with the company quoting a tariff of ₹2.70/kWh.
The project scope encompasses both solar power generation and integrated Battery Energy Storage Systems (BESS), marking a significant milestone in the subsidiary's renewable energy portfolio. The construction phase is estimated at 18 months, followed by a 25-year operational period.
Client Profile
Rewa Ultra Mega Solar Limited (RUMSL) is the awarding entity for this contract. RUMSL is a joint venture between the Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL). The organization is instrumental in developing large-scale solar parks in Madhya Pradesh, including the iconic 750 MW Rewa Solar Project.
As a nodal agency for the state, RUMSL facilitates the deployment of renewable energy infrastructure through public-private partnerships, ensuring structured project development and bankable off-take agreements for private developers in the renewable energy sector.
Business Impact
- The ₹1,700 crore order provides substantial revenue visibility, representing approximately 42 percent of the company's trailing twelve-month revenue
- Strategic entry into the Battery Energy Storage Systems segment positions the company in a high-growth vertical within renewable energy
- The 25-year operational period ensures long-term, stable annuity-style cash flows following the completion of the construction phase
- Execution of this large-scale hybrid project strengthens the company's credentials for future green energy infrastructure tenders
Financial Context
Ceigall India maintains a robust financial profile, with its trailing twelve-month revenue reaching ₹4,022.4 crore. The company reported a significant year-on-year revenue growth of 37.06% in the latest quarter, outperforming the construction sector average of 8.6%. Furthermore, net profit growth for the same period stood at 70.85%, highlighting strong operational efficiency.
With a promoter holding of 82.06% and a momentum score of 70.41, the company maintains a stable market position. The current trailing twelve-month price-to-earnings (PE) ratio of 21.35 remains below the industry average of 33.74, indicating relative valuation positioning.
| Share price | ₹382.2 |
|---|---|
| Market capitalisation | ₹6,658.11 Cr |
| Revenue (annual) | ₹4,022.40 Cr |
| Net profit (annual) | ₹311.89 Cr |
| Revenue (latest quarter) | ₹1,386.51 Cr+39.89% vs previous quarter |
| Net profit (latest quarter) | ₹126.60 Cr+70.83% vs previous quarter |
| P/E (TTM) | 21.35×Sector 36.22× |
| Promoter holding | 82.06%0.00% QoQ |
| FII holding | 3.14%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Ceigall India Limited announcing the execution of a Power Purchase Agreement for a 220 MW project. Market figures from a third-party data provider.
