Ceigall India Limited has announced the successful incorporation of its step-down subsidiary in Dubai, UAE, marking a significant milestone in the company's international expansion strategy. The new entity, Ceigall EPC Global Contracting LLC, was incorporated on February 12, 2026, under the laws of Dubai UAE with approval from the Department of Economic Development – DED, Emirates of Dubai.

Corporate Structure and Investment Details

The Dubai subsidiary represents a strategic step-down structure within Ceigall India's international operations. The entity will be wholly owned by Ceigall Global Pte. Ltd., which itself is a wholly-owned subsidiary of Ceigall India Limited, established earlier in Singapore following board approvals in November 2025.

Business Operations and Services

The newly incorporated subsidiary will operate in the infrastructure industry, focusing on comprehensive contracting and construction services. Ceigall EPC Global Contracting LLC will strategically invest in general contracting and infrastructure works across multiple sectors.

The company's service portfolio includes:

• Building and road contracting
• Sewage and drainage systems
• Water pipelines and stations
• Electric power lines contracting
• Bridges construction and maintenance
• Power stations contracting and repairing

Regulatory Compliance and Structure

The incorporation follows all regulatory requirements under Dubai UAE laws and has received necessary approvals from local authorities. The investment structure involves subscription to share capital by the Singapore-based parent entity, Ceigall Global Pte. Ltd.

Strategic Market Positioning

The Dubai subsidiary positions Ceigall India to deliver reliable and high-quality construction solutions for both public and private sector projects in the UAE market. This expansion builds upon the company's earlier international presence through its Singapore operations, creating a comprehensive platform for regional growth in infrastructure and construction services.

The incorporation was communicated to stock exchanges on February 13, 2026, in compliance with Regulation 30 of SEBI Listing Regulations, demonstrating the company's commitment to transparent corporate governance and regulatory compliance.

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.