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.

Ceigall India Limited has secured a significant renewable energy project worth approximately ₹1,700 crore, marking its strategic expansion into the solar power sector. The company received a Letter of Award dated February 9, 2026, from Rewa Ultra Mega Solar Limited for developing Unit 1 at Morena Solar Park in Madhya Pradesh.

Project Details and Specifications

The awarded project comprises a comprehensive renewable energy solution combining solar generation with energy storage capabilities. The project specifications demonstrate the scale and technical complexity of this infrastructure development.

Strategic Significance and Market Impact

The project was awarded through a tariff-based competitive bidding mechanism, reflecting the competitive nature of India's renewable energy sector. The integration of Battery Energy Storage System alongside solar generation represents an advanced approach to renewable energy infrastructure, enabling efficient peak power management and improved dispatch reliability.

The Morena Solar Park initiative is designed to enhance grid stability through integrated storage solutions, supporting Madhya Pradesh's renewable energy capacity expansion. This project aligns with India's broader clean energy transition goals and the nation's target of achieving 500 GW non-fossil capacity.

Management Commentary

Ramneek Sehgal, Chairman & Managing Director of Ceigall India Limited, emphasized the project's strategic importance: "We are pleased to secure the 220 MW Solar and BESS project at Morena Solar Park from Rewa Ultra Mega Solar Limited. As India progresses toward its 500 GW non-fossil capacity target, integrated solar and storage solutions are essential for delivering reliable, dispatchable renewable power."

The management highlighted the project's role in strengthening the company's presence in the clean energy segment while supporting India's energy transition and decarbonisation objectives. The award represents a commitment to efficient project execution in the renewable energy infrastructure space.

Company Portfolio Expansion

This order significantly strengthens Ceigall India's growing order book and represents a strategic diversification from its traditional infrastructure engineering focus. The company's principal business operations have historically centered on EPC projects and hybrid annuity model projects, including elevated roads, flyovers, bridges, railway overbridges, tunnels, highways, expressways, and runways.

The renewable energy project marks an expansion into large-scale clean energy infrastructure, aligning with the company's long-term vision of participating in nation-building initiatives across transportation and energy sectors. This diversification strategy positions the company to capitalize on India's growing renewable energy market while maintaining its strong execution track record in infrastructure development.