Ceigall (CEIGALL) Q4 25/26 earnings summary

Executive summary

• FY26 consolidated revenue rose 17.0% to ₹40,224.01 million; profit attributable to owners was ₹3,118.87 million.

• The March 31 order book reached ₹185,543 million; FY26 inflows were INR 11,332 crore and Q4 inflows were ₹60,142 million, lifting book-to-bill to 4.8x.

• Diversification expanded into five new verticals and three new states, with renewables representing 19% of the order book.

Financial highlights

• Q4 FY26 consolidated revenue was ₹13,865.10 million vs ₹10,116.14 million; profit attributable to owners was ₹1,266.05 million vs ₹741.01 million.

• Q4 consolidated EBITDA was ₹2,235 million at a 16.1% margin; profit from continuing operations was ₹1,290.34 million.

• FY26 consolidated EBITDA was ₹5,854 million at a 14.6% margin; profit from continuing operations was ₹3,089.20 million, with a 7.7% margin.

• Standalone FY26 revenue was ₹38,693.13 million, EBITDA ₹4,873 million and PAT ₹3,051.83 million; EBITDA and PAT margins were 12.6% and 7.9%.

Outlook and guidance

• FY27 guidance calls for revenue growth of at least 15%, EBITDA margin of 11%-12.5%, and minimum order inflows of INR 5,500 crore.

• Renewables are expected to contribute 20%-25% of FY27 revenue; management described the growth outlook as conservative.

• Monthly billing changes are expected to improve cash flow and unbilled revenue in coming quarters.