Ceigall India Limited announced the outcome of its Board meeting held on February 09, 2026. Key decisions included the appointment of Mr. A. Saravanan as Chief Executive Officer (CEO), effective February 10, 2026. The Board also approved the sale of a step-down subsidiary, Ceigall Malout Abohar Sadhuwali Highways Private Limited, for a total consideration of Rs. 177 crores. Furthermore, the Unaudited Financial Results for Q3 FY2025-26 (ending December 31, 2025) were approved.
Key Board Decisions on February 9, 2026
The Board of Directors of Ceigall India Limited convened on February 09, 2026, transacting several significant items. The meeting commenced at 11:20 A.M. and concluded at 02:00 P.M.
Appointment of New CEO
The Board approved the appointment of Mr. A. Saravanan as the Chief Executive Officer (CEO), based on the recommendation of the Nomination & Remuneration Committee. Mr. Saravanan, aged 54 years, is a seasoned professional with nearly 32 years of experience in the infrastructure sector, including EPC Highways Projects. His appointment as CEO is effective from February 10, 2026, and he qualifies as a Key Managerial Personnel (KMP).
Divestment of Step-Down Subsidiary
The execution of a Binding Offer Letter with Neo Asset Management Private Limited (the “Acquirer”) was approved for the proposed sale of Ceigall Malout Abohar Sadhuwali Highways Private Limited, a step-down subsidiary. The total consideration for this divestment is Rs. 177 crores. The transaction is expected to be completed on or before June 30, 2026. For the year ended March 31, 2025, the divested unit contributed 6.81% to the consolidated turnover and 5.44% to the consolidated Networth.
Review of Financial Results (Q3 FY2025-26)
The Unaudited Financial Results (Standalone and Consolidated) for the quarter and nine months ended December 31, 2025, were approved, along with the Limited Review Reports issued by M/s. BD Bansal, Chartered Accountants.
Standalone Performance Highlights (Quarter Ended Dec 31, 2025)
- Total Income: Rs. 9,816.81 Million.
- Profit Before Tax: Rs. 989.45 Million.
- Profit from Continued Operations: Rs. 744.56 Million.
- Basic EPS: ₹4.27.
Consolidated Performance Highlights (Quarter Ended Dec 31, 2025)
- Total Income: Rs. 10,020.05 Million.
- Profit Before Tax: Rs. 970.45 Million.
- Net Profit Attributable to Owners: Rs. 741.13 Million.
- Basic EPS: ₹4.16.
Policy Reviews and Auditor Submissions
The Board also reviewed and approved several key company policies, including the Related Party Transaction Policy, Dividend Distribution Policy, Risk Management Policy, and Succession Planning for Directors and SMPs. Additionally, the Board considered submissions from the Statutory Auditor regarding an FIR lodged on January 22, 2026, concerning alleged fraudulent purchases involving vendors and employees, which resulted in inventory and tax credit adjustments.
Source: BSE
