Hold Ceigall India: Target of ₹256

Status: Pending

Age: New (2025-08-10)

TRACK

Brokerage

ICICI Securities

Analyst

Brokerage Team

Position

Neutral

Start Date

2025-08-10

Horizon

Mid Term

Target Price and Expected Returns

Start Price

Target Price

₹256

Expected Returns

Summary

ICICI Securities issued a hold rating on Ceigall India with a target price of ₹256, citing mixed performance in Q1FY26 due to early monsoons and delayed HAM projects.

ICICI Securities's justification for Ceigall India target price prediction

Muted Q1FY26 financials with revenue up 6% YoY and margins declining 359bps.
Low order inflow and project cancellations impact order book.
Bright outlook for road tendering supported by NHAI’s strong bidding targets.
Target price derived from valuations of EPC business and HAM segment.

We maintain our HOLD rating, valuing the EPC business at 8x FY27E earnings and the HAM segment at 1.2x equity invested, arriving at a TP of ₹256.

Sources:

(https://www.moneycontrol.com/news/business/earnings/sbi-q1-results-net-profit-rises-12-to-rs-19-160-crore-beats-estimates-13422587.html)

Tags:

Brokerage Team, Ceigall India, ICICI Securities, Neutral, stock_prediction

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