Board appoints new CEO, approves subsidiary sale and Q3 results

Ceo Appointed ExternalManagement Changes View source PDF Explain this filing

CEIGALL · price

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Price reactionminutes from the announcement price · days from the prior close

-1.4%Reaction day

₹294.00

prior close

₹291.10

announcement price

In-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+2.6%-4.0% vs market

Civil Construction peers, median of 97sector+2.5%-3.9% vs sector

On the reaction day the stock moved 4.0 pts less than Nifty Microcap 250 and 3.9 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-3.5

10m

-2.3

15m

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30m

-2.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.4+2.6-4.0+2.5-3.9

Next day

+0.8+3.6-2.8+2.9-2.1

+0.6+3.1-2.5+2.3-1.7

+1.7+2.6-0.9+1.5+0.2

-1.9+1.1-2.9-0.1-1.8

-1.2+0.3-1.6-0.4-0.8

-0.4+1.6-2.0-1.1+0.7

15d

-6.8-3.9-2.9-6.5-0.3

-8.8-8.1-0.7-10.2+1.4

-1.6-3.1+1.5-4.7+3.0

+24.7+9.2+15.5+1.5+23.2

UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 97Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved appointment of Mr. A. Saravanan (ex-GMR, MW High Tech, with about 32 years in infra) as CEO effective Feb 10, 2026. Also approved sale of step-down subsidiary Ceigall Malout Abohar Sadhuwali Highways to Neo Asset Management for Rs. 177 crores, expected to complete by June 30, 2026. Q3 FY26 standalone PAT was Rs. 744.56 million on revenue of Rs. 9,699.08 million; consolidated PAT was Rs. 723.87 million on revenue of Rs. 9,911.42 million. Board noted an FIR against three vendors and six employees for alleged fraudulent purchases of Rs. 89.65 million.

Likely market impact

New external CEO brings infra expertise; subsidiary sale adds Rs. 177 cr; Q3 PAT up about 28% YoY; minor fraud FIR noted.