Ceigall India Limited has informed the Exchange about Acquisition Approved further investment in Ceigall Jalbehra Shahbad Greenfield HighwayPrivate Limited, a Subsidiary of the Company for shares offer under rightsissue. Approved providing of security for the Rupee Term Loan facility sanctioned toCeigall Ludhiana Bathinda Greenfield Highway Private Limited [SpecialPurpose Vehicle (SPV)] and investment in its share capital, to finance theproject of the SPV.
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Ceigall India Limited's board approved its audited FY25 financial results, reporting standalone revenue from operations of about Rs. 3,385 crore (up from Rs. 2,955 crore in FY24), with standalone EPS of Rs. 16.07. The board approved a further investment of about Rs. 1.57 crore in its subsidiary Ceigall Jalbehra Shahbad Greenfield Highway Private Limited through a rights issue, to fund an NHAI Hybrid Annuity Model (HAM) project in Haryana. It also approved providing security for a rupee term loan sanctioned to another subsidiary SPV, Ceigall Ludhiana Bathinda Greenfield Highway, along with investment in its share capital. Notably, the board gave in-principle approval for subsidiary Ceigall Infra Projects to explore a possible merger or investment with C & C Construction Limited, a listed entity currently undergoing IBC liquidation. The board skipped a dividend for FY25, citing the need to retain earnings for HAM projects awaiting NHAI appointed dates.
Strong top-line growth and continued capital infusion into HAM project SPVs signal management's confidence in upcoming project execution, but the dividend skip may disappoint income-focused investors. The exploration of a merger with distressed listed entity C&C Construction is a strategically significant move that could unlock value if materialised, and investors should track NHAI appointed dates for HAM projects as the next key catalyst for the stock.