Ceigall India Ltd

Key highlights

• Completion Certificate received for 16.85-km Delhi–Saharanpur NH709B stretch; revised project cost ₹1,659.84 crore.
• Highway forms part of Bharatmala Pariyojana Phase I Economic Corridor; fit for operation since Sept 12, 2024.
• Ceigall to operate and maintain the stretch at ₹2.88 crore per annum, plus escalation.
• Project awarded April 16, 2022; completion extended to August 15, 2024.
• Joint execution with Gayatri Projects Limited.
• Certificate dated Oct 12, 2026; press release issued Oct 13, 2026.

Award details

• Awarding entity: Government of Bihar, Department of Mines and Geology.
• Nature and scope: Allotment/Leasing of Stone Blocks (Crusher/Sand) in Nawada District Lot-4, Bhadokhara, Block-D.
• Term and pricing: Five-year mining auction; 20% annual increment; ₹28.82 Cr/year; ₹214.52 Cr total (Excl. GST).
• Execution/reserve: Minable reserve: 419,300 cum per year; 2,096,500 cum over five years.
• Domestic awarding entity.
• Promoter/related-party: No promoter interest; related party transactions not applicable.

AGM Details

• Date and time: 29 Sep 2026, 2:30 PM IST.
• Mode: Video Conference / Other Audio Visual Means (VC/OAVM).
• Remote e-voting window: 25–28 Sep 2026.
• 68 shareholders attended via VC/OAVM.

Resolutions

• Ordinary: adopt standalone and consolidated financial statements.
• Ordinary: declare final dividend for FY2025-26.
• Ordinary: re-appoint Ramneek Sehgal after rotation.
• Special: re-appoint Vishal Anand as Non-Executive Independent Director for a second term.
• Special: re-appoint Gurpreet Kaur as Non-Executive Independent Director for a second term.
• Special: appoint Ankit Kumar Agarwal as Director and Non-Executive Independent Director for first term.
• Special: appoint Ayyalusamy Saravanan as Director/Whole-Time Director.
• Special: appoint Dr. Pawan Kumar as Director/Whole-Time Director.
• Ordinary: ratify remuneration payable to Cost Auditor for FY2026-27.
• Special: approve loans, guarantees and/or security under section 185.
• Ordinary: approve Material Related Party Transactions with Ceigall Ambala Chandigarh Zirakpur Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall Ayodhya Bypass Private Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall Green Energy MH1 Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall Indore Ujjain Greenfield Highway Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall LudhianaBhatinda Greenfield Highway Private Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall Morena Solar BESS Park Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall Northern Ayodhya Bypass Private Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall Sahebganj Bettiah Highway Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall Southern Ludhiana Bypass Private Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall VRK-11 Private Limited.
• Ordinary: approve Material Related Party Transactions with Ceigall VRK-12 Private Limited.
• Ordinary: approve Material Related Party Transactions with Velgaon Power Transmission Limited.

Dividend

• Final dividend proposed for FY2025-26; amount per share not disclosed.

Directors & Appointments

• Ramneek Sehgal re-appointed as Director (retires by rotation).
• Vishal Anand re-appointed as Non-Executive Independent Director for second term.
• Gurpreet Kaur re-appointed as Non-Executive Independent Director for second term.
• Ankit Kumar Agarwal appointed Director and Non-Executive Independent Director for first term.
• Ayyalusamy Saravanan appointed Director/Whole-Time Director.
• Dr. Pawan Kumar appointed Director/Whole-Time Director.

Auditors

• Cost Auditor remuneration ratified for FY2026-27.

Material Related Party Transactions

• RPT with Ceigall Ambala Chandigarh Zirakpur Limited.
• RPT with Ceigall Ayodhya Bypass Private Limited.
• RPT with Ceigall Green Energy MH1 Limited.
• RPT with Ceigall Indore Ujjain Greenfield Highway Limited.
• RPT with Ceigall Ludhiana Bhatinda Greenfield Highway Private Limited.
• RPT with Ceigall Morena Solar BESS Park Limited.
• RPT with Ceigall Northern Ayodhya Bypass Private Limited.
• RPT with Ceigall Sahebganj Bettiah Highway Limited.
• RPT with Ceigall Southern Ludhiana Bypass Private Limited.
• RPT with Ceigall VRK-11 Private Limited.
• RPT with Ceigall VRK-12 Private Limited.
• RPT with Velgaon Power Transmission Limited.

Voting Status

• Combined remote and AGM voting results to be announced on company and CDS portals within two working days.

Meeting Details

• Date and time: Wednesday, 30 September 2026, 9:00 am–6:00 pm.
• Type and mode: one-on-one meeting; physical location in Mumbai.
• Event/organiser: Ceigall India Limited engaging with Analysts/Investors.
• Purpose: investor interaction; discussion of analysts' queries and company updates.
• Note: the date is subject to change.
• Recordings/presentations: no explicit recording or presentation availability stated.

Target and deal overview

• Target: Ceigall Sahebganj Bettiah Highway Limited, an infrastructure SPV in India.
• Capital: Rs 1 lakh authorized/paid-up; 10,000 shares of Rs 10 each.
• Incorporation date: 17-Feb-2026; first financial year 2026-27.

Transaction terms

• Consideration: cash infusion of Rs 61.93 crore.
• Shareholding: 74% Ceigall India Limited; 26% Ceigall Infra Projects Private Limited.
• Funding structure: equity infusion by Ceigall India and CIPPL.

Rationale and approvals

• Rationale: fund NH 139W four-laning in Bihar via the SPV under Hybrid Annuity.
• Regulatory: no approvals required.
• Related party status: none; target is a subsidiary with no promoter interest.

Timeline and background

• Timeline: acquisition to be completed in tranches as per fund requirement.
• Background: Line of business infrastructure development; incorporated 17 Feb 2026; first year FY2026-27.

Ceigall India Ltd closes trading window from Oct 01, 2026 till the completion of 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ending September 30, 2026

Meeting Details

• Mon 28 Sep 2026, 09:00–18:00, one-on-one, physical meeting in Mumbai with analysts/investors.
• Tue 29 Sep 2026, 09:00–14:00, one-on-one, location not specified.
• Organiser: Ceigall India Limited.

Participants

• Key participant: Company Secretary.

Purpose

• Purpose: Analyst/investor interaction to discuss business updates.

Additional Notes

• Dates subject to change.

Key update

• Ceigall Green Energy MH2 Limited commissioned another 5 MW, raising site capacity to 10 MW.
• Capacity forms part of 147 MW MSKVY 2.0 solar project in Maharashtra.
• 10 MW capacity connected to MSEDCL 33/11 kV substation at Ranjangaon.
• First 5 MW unit commissioned ahead of schedule; eligible for MSKVY 2.0 early-commissioning incentive.
• Ceigall India aims to expand renewable energy portfolio with solar and BESS projects.

Acquisition of JKJTL

• Target: Jam Khambhaliya Jamnagar Power Transmission Limited, a wholly owned REC SPV in India.
• Size: NIL turnover; paid-up capital Rs 5 lakh (50,000 shares @ Rs 10).
• Equity stake: 100% acquired for cash Rs 5 lakh.
• Strategic rationale: establish common transmission system for Lakadia, Jam Khambhaliya, and Jamnagar under TBCB.
• Regulatory: not applicable.
• Timeline: not specified.
• Related party status: not a RPT at signing; JKJTL becomes Ceigall's subsidiary.
• Background: electricity transmission sector; incorporated 09 May 2026; turnover NIL.

JV investment: HC Concessions Limited

• Proposed JV: HC Concessions Limited to be incorporated in India.
• Ceigall to subscribe 4,900 equity shares (49%) for Rs 49,000.
• Holding company: HCC Infrastructure Company Limited; Ceigall to be JV equity partner.
• Industry: infrastructure development; BOT/HAM/BOOT models.
• Consideration: cash.
• Regulatory: not applicable.
• Timeline: to be incorporated.
• Background: JV to develop infrastructure in India and abroad.

Key updates

• Board approved unaudited standalone and consolidated Q1 2026 results; Limited Review Reports attached.
• ICRA: public issue proceeds fully utilized; monitoring concluded; no further reports required.
• 24th AGM scheduled for Sept 29, 2026 via VC/OAVM.
• Remote e-voting window: Sept 25–28, 2026; cut-off Sept 22, 2026.
• Final dividend of Rs 0.50 per equity share for FY2025-26; subject to AGM approval.
• Record date for final dividend: Sept 11, 2026.
• Book closure from Sept 23 to Sept 29, 2026 inclusive.
• Corporate office shifted to Plot 70, Sector 32, Gurugram.
• Issuance of Commercial Papers up to Rs 100 crores via private placement.
• Sale of Ceigall Malout Abohar Sadhuwali Highways Private Limited completed; subsidiary ceased June 16, 2026; consideration received.