General Announcement
Awaiting price reaction for this filing.
C & C Constructions' board approved unaudited financial results for Q2 and half-year ended September 30, 2025, reviewed by statutory auditors A S G & Associates. The company appointed Mr. Davinder Kaushik (a 27-year-old CA from Ceigall Group) as the new CFO effective November 10, 2025. It also approved setting up a new wholly owned subsidiary, Ceigall Integrated Energy Limited (CIEL), in the electric power industry, with a 100% cash subscription of Rs. 1 lakh. The results come with significant context: the company was admitted to insolvency in 2019, ordered into liquidation by NCLT in October 2022, and was sold as a going concern to M/s R K Constructions for Rs. 104 crore in December 2024. The new management has filed an application with NCLT seeking reliefs, and the formal liquidation closure is still pending. The auditor's review report includes an Emphasis of Matter noting tax prosecution notices (u/s 276B for late TDS) and EPF damages summons totaling Rs. 0.96 crore, though the opinion is not qualified. Total assets stood at Rs. 573.89 crore as of September 2025, up from Rs. 335.28 crore at March 2025. Related party transactions during the period included a Rs. 500 million inter-corporate deposit to Ceigall Infra Projects Pvt Ltd at 9.5% interest.
The results are essentially a transition document — the new management (post-acquisition by R K Constructions) is signing financials based on limited data from the Liquidator, and future revisions are possible. For shareholders, the key watchpoints are the pending NCLT application outcome, the new energy subsidiary CIEL signaling a strategic pivot, and the appointment of a Ceigall Group-linked CFO which may signal alignment with the new promoter group. Stock price impact is likely to be muted given the limited operational activity and reliance on preliminary figures.