Ceigall India Limited announced the outcome of its Board Meeting held on November 5, 2026. The Board approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. A significant decision was the approval to raise funds up to ₹1000 Crores through the issuance of equity shares or other permissible securities. Additionally, the Board approved the appointment of Mr. Chandan Singh as Additional Director/Whole Time Director and approved changes to the company’s authorized share capital.
Board Meeting Highlights
Ceigall India Limited convened its Board of Directors meeting on Thursday, November 05, 2026, to deliberate on several key corporate matters. The meeting resulted in the approval of the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026, along with the Limited Review Reports. These results had been previously reviewed and recommended by the Audit Committee.
Fundraising and Capital Increase
A significant resolution passed by the Board was the approval to raise funds amounting to up to ₹1000 Crores. This fundraising exercise will be undertaken through the issuance of equity shares and/or other securities, including convertible instruments. The proposed modes of issuance are open to further public offers, preferential issues, rights issues, private placements, and other permissible methods, subject to regulatory and shareholder approvals.
Furthermore, the Board approved an increase in the company’s authorized share capital from ₹110,00,00,000/- (Rupees One Hundred Ten Crore) to ₹120,00,00,000/- (Rupees One Hundred Twenty Crores). This necessitates an alteration of Clause V of the Memorandum of Association, which will be subject to shareholder approval via ordinary resolution through a postal ballot.
Director Appointment and Other Disclosures
The Board also approved the appointment of Mr. Chandan Singh (DIN: 10901481) as an Additional Director/Whole Time Director for a term of 3 years, effective from November 05, 2026, upon the recommendation of the Nomination and Remuneration Committee. It was affirmed that Mr. Chandan Singh is not debarred from holding such an office.
In principle, the Board approved the execution of a Binding Offer Letter with Neo Alternative Asset Managers Private Limited for the proposed sale of its step-down subsidiary, Ceigall Bathinda Dabwali Highways Private Limited. Details regarding outstanding defaults on loans and debt securities are enclosed as Annexure-IA, and related party transactions will be filed along with XBRL.
Postal Ballot and Meeting Schedule
A notice for a Postal Ballot will be issued to shareholders to obtain their approval for certain resolutions, which will be shared in due course. The Board meeting commenced at 11:00 A.M. and concluded at 01:55 P.M. The information has also been disseminated on the company’s website.
Auditor’s Review Report
Independent auditor, B D Bansal & Co., provided a review report on the unaudited standalone financial results. They stated that their review was conducted in accordance with Standards on Review Engagements (SRE) 2410 and that nothing came to their attention to suggest material misstatements in the results prepared under Ind AS 34. The report also highlighted that the interim financial results of two Jointly Controlled Operations were reviewed by other auditors.
Financial Statements Overview
The unaudited standalone statement of assets and liabilities as of September 30, 2026, shows total assets of ₹44,827.29 million. The statement of unaudited standalone financial results for the quarter and half-year ended September 30, 2026, indicates a profit before tax of ₹1,096.73 million for the quarter and ₹2,107.86 million for the half-year. The consolidated financial statements present a similar picture with total assets of ₹58,569.05 million as of September 30, 2026, and a profit before tax of ₹1,241.04 million for the quarter and ₹2,194.60 million for the half-year.
Source: BSE
