Ceigall India Faces ₹330.84 Crore Tender Cancellation Despite Strong Q1 Performance
Ceigall India Ltd has reported the cancellation of a ₹330.84 crore tender, including GST, awarded by the Delhi Government’s Public Works Department (PWD) for strengthening and other works on roads under the South Maintenance Zone during 2026-27. The company had earlier emerged as the L1 bidder on June 30, 2026, but the tender was cancelled on August 17, 2026, citing “documentary consideration.”
While this represents a setback to the company’s potential order inflow, its Q1 FY27 financial performance remained positive, with consolidated net profit rising 15.5% year-on-year to ₹61 crore from ₹53 crore, while revenue from operations increased 16% to ₹970 crore from ₹838 crore. EBITDA also grew 32% to ₹143.8 crore compared with ₹108.9 crore in the year-ago period, driving EBITDA margin higher to 14.8% from 13%, an improvement of nearly 200 basis points.
Separately, the company has fixed September 11, 2026, as the record date for its final dividend of ₹0.50 per equity share, with each share having a face value of ₹5, subject to shareholder approval at the AGM. Overall, the tender cancellation is a near-term negative for potential order additions, while the improvement in revenue, profitability and operating margins indicates continued strength in the company’s underlying business performance.