Subscribe – Long Term for Ceigall India Ltd; Anand Rathi

Anand Rathi, has come out with its report on Ceigall India Ltd. The research firm has recommended to “ Subscribe – Long Term” the ipo in its research report as on July 31 2024.

Broker Research

August 01, 2024 / 10:39 IST

IPO

Anand Rathi, IPO report on Ceigall India Ltd

Founded in 2002, Ceigall India Limited is an infrastructure construction company with expertise in specialized structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. By July 2024, the company completed over 34 road and highway projects. These projects include project 16 EPC, one HAM project, five O&M projects, and 12 Item Rate Projects. The company has 18 ongoing projects, including 13 EPC projects and five HAM projects. These involve elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways.

Valuation and Outlook

The company's P/E ratio is 22.9 times based on its FY24 earnings, with a market capitalization of ₹69,854 million after the issuance of equity shares and a market cap-to-sales ratio of 2.3 times its FY24 earnings. Looking at these factors we recommend “Subscribe – Long Term” rating to the IPO.

For all IPO report, click here