C&C Constructions board approves Q3 results and subsidiary investment
Awaiting price reaction for this filing.
Board approved Q3 FY26 unaudited results: standalone profit of Rs 24.40 million on other income of Rs 51.49 million; 9-month loss of Rs 17.49 million. Also approved investment in equity shares of wholly owned subsidiary Ceigall Transmission and Distribution Ltd and reconstituted board committees. Background: company was acquired as a going concern by R K Constructions for Rs 104 Crore in Dec 2024 post liquidation; NCLT closure still pending and new management has filed for reliefs. Tax prosecution notices and EPF damages of about Rs 1 Crore flagged as sub-judiced.
Subsidiary investment signals new management's operational push post-acquisition. Pending NCLT reliefs and tax/EPF litigations remain key risks for shareholders.