Ceigall India Limited's Board of Directors concluded significant business decisions at their meeting held on February 09, 2026, including the appointment of a new Chief Executive Officer and approval of Q3FY26 unaudited financial results. The meeting, which commenced at 11:20 A.M. and concluded at 02:00 P.M., addressed multiple strategic initiatives under Regulations 30 and 33 of SEBI (LODR) Regulations, 2015.

CEO Appointment and Leadership Changes

The Board approved the appointment of Mr. A. Saravanan as Chief Executive Officer (CEO) of the Company, effective February 10, 2026, based on recommendations from the Nomination & Remuneration Committee. Mr. Saravanan brings extensive experience to the role with nearly 32 years in the infrastructure sector, particularly in EPC Highways Projects from NHAI, MoRTH and World Bank Funded Projects.

Q3FY26 Financial Performance

The company demonstrated robust financial performance during the third quarter of FY26. Total income reached ₹9,816.81 million for the quarter ended December 31, 2025, compared to ₹8,199.57 million in the corresponding quarter of the previous year. The standalone results showed consistent growth across key financial metrics.

Subsidiary Divestment Transaction

The Board approved execution of a Binding Offer Letter with Neo Asset Management Private Limited for the proposed sale of Ceigall Malout Abohar Sadhuwali Highways Private Limited (CMASH), a step-down subsidiary. The transaction represents a strategic divestment initiative for the company.

Consolidated Financial Results

The consolidated financial results for Q3FY26 showed total income from operations of ₹9,911.42 million with net profit after tax of ₹723.87 million. For the nine-month period, consolidated total income reached ₹26,778.44 million with net profit after tax of ₹1,798.86 million. The consolidated basic earnings per share for Q3FY26 stood at ₹4.16.

Regulatory Matters and FIR Disclosure

The Board considered submissions made by the Statutory Auditor regarding a First Information Report (FIR) lodged with District Police Commissionerate, Ludhiana on January 22, 2026. The FIR was filed against three vendors and six employees in connection with alleged fraudulent purchases during Q3 FY26 amounting to ₹89.65 million. The company has made appropriate adjustments to inventories, creditors and GST Input Tax Credit as at December 31, 2025, resulting in no impact on the profit and loss statement for the quarter.

Policy Reviews and Compliance

The Board also reviewed and approved various company policies including Related Party Transaction Policy, Dividend Distribution Policy, Determination of Materiality of Event or Information Policy, Risk Management Policy, Policy on Board Diversity, Nomination and Remuneration Policy and Succession Planning for Appointment of Directors and SMPs. The financial results were duly reviewed by the Audit Committee before Board approval and have been published in Business Standard (English) and Daily Suraj, Ludhiana (Punjabi) newspapers.

Ceigall India Limited has reported violations under its Code of Conduct on Prohibition of Insider Trading to BSE and NSE, disclosing inadvertent contra trades by three designated persons. The company submitted the intimation in compliance with Regulation 9(1) read with Schedule B of the SEBI PIT Regulations on February 10, 2026.

Violation Details

Three designated persons were found to have violated the company's insider trading code through contra trade executions. The violations were identified as inadvertent trades made without intention of violating PIT Regulations or making undue gains.

Trading Activity Summary

The violations involved multiple buy and sell transactions across different dates in 2025. Pradip Kumar Mandal executed trades between June and December 2025, generating a profit of ₹18.19. Nishant Tomar conducted transactions from June to December 2025, earning profits of ₹189.84. Sunil's trading activity from July to September 2025 resulted in losses totaling ₹64.76.

Regulatory Action and Penalties

The matter was placed before the Audit Committee in its meeting held on February 6, 2026. The Committee imposed a penalty of ₹1,100 each on the violating designated persons. The company issued warning letters and penalties, considering these trades were made inadvertently without intention of violating PIT Regulations or making undue gains.

The profits from such trades along with the penalties have been deposited to the SEBI Investor Protection and Education Fund through online transfers.

Payment Details to SEBI IPEF

Compliance Status

The company confirmed no previous instances of violations since the last financial year. All designated persons involved are not promoters or part of the promoter group. The intimation was signed by Megha Kainth, Company Secretary & Compliance Officer, and submitted to both BSE and NSE as per regulatory requirements under SEBI Master Circular No. SEBI/HO/ISD/ISD-PoD-2/P/CIR/2024/126 dated September 23, 2024.