Anjani Portland Cement Anjani Portland Cement shareholders approved all ordinary and special business resolutions at the company’s 42nd Annual General Meeting (AGM) held on September 10, 2026. The meeting, conducted via Video Conferencing and Other Audio-Visual Means, concluded at 12:35 pm after transacting all agenda items.

The company’s Board of Directors convened the meeting in accordance with SEBI Listing Regulations and Ministry of Corporate Affairs circulars. Mrs. V. Valliammai, Chairperson of the Board, presided over the proceedings. The quorum was present via remote e-voting and virtual attendance.

Key Resolutions Passed

Shareholders approved the adoption of audited standalone and consolidated financial statements for FY26. The statutory auditors and secretarial auditors issued reports without qualifications or adverse remarks. Additionally, the house reappointed Mr. Palani Ramkumar as a director following his retirement by rotation under Section 152(6) of the Companies Act, 2013.

The AGM also addressed special business items, including the ratification of remuneration for cost auditors for FY27. Crucially, shareholders approved material related-party transactions involving Chettinad Cement Corporation Private Limited, Bhavya Cements Private Limited, and Chettinad Minerals and Logistics Private Limited.

Voting Dynamics

The promoter group held 22,031,071 shares as of the record date, September 3, 2026. While promoters voted in favor of the financial statements and director reappointment, they abstained from voting on resolutions concerning material related-party transactions with Chettinad Cement Corporation and its subsidiary entities, adhering to regulatory norms for interested parties.

Public non-institutional shareholders polled 74,795 votes, representing 1.02% of outstanding shares. Of these, 97.67% voted in favor of the resolutions. Institutional public shareholders did not cast any votes during the remote e-voting period or the meeting.

What the Numbers Show

The voting pattern highlights strict adherence to governance protocols regarding conflict of interest. The complete abstention of the promoter group (holding over 75% of total shares) from voting on related-party transaction resolutions indicates that these approvals relied entirely on public shareholder consent. With only 1.02% participation from non-institutional public shareholders, the approval was driven by a small but decisive segment of retail investors, while institutional holders remained inactive.

Anjani Portland Cement reported a consolidated net loss of ₹263.1 crore for the financial year ended March 31, 2026 (FY26), narrowing significantly from the ₹812.2 crore loss recorded in FY25. The company’s consolidated revenue from operations increased by 5.9% to ₹4,552.1 crore, up from ₹4,300.3 crore in the previous year.

On a standalone basis, the company reported a net loss of ₹1,039.6 crore, compared to a loss of ₹348.2 crore in FY25. This deterioration was primarily driven by an exceptional item—a loss on the sale of investment in its subsidiary amounting to ₹799.6 crore. Excluding this exceptional item, the standalone profit before tax stood at a loss of ₹236.2 crore, an improvement from the ₹465.7 crore loss in FY25.

Operational Performance

The company’s installed cement capacity remained unchanged at 1,160,000 MT per annum. However, capacity utilization dropped to 40% in FY26 from 61% in FY25. Consequently, cement production decreased to 465,292 MT from 705,239 MT in the previous year. Total cement sales volume, including traded cement, fell to 821,145 MT from 999,823 MT.

The management attributed the lower volumes and realizations to sluggish market conditions, stiff competition, and erratic weather conditions. Despite the volume decline, the company focused on selling in core markets to cut non-core sales, which impacted overall capacity utilization.

Financial Highlights

On a standalone basis, revenue from operations declined by 16.9% to ₹3,102.0 crore. Other income also saw a sharp drop to ₹23 lakh from ₹109 lakh in FY25, as the previous year included write-backs of long-carried forward liabilities.

Cost efficiency measures helped improve the operating position. Standalone operating profit turned positive at ₹81.3 lakh, compared to an operating loss of ₹30.7 lakh in FY25. Power and fuel costs decreased by 37.1% to ₹732.0 crore, while freight and forwarding charges fell by 34.3% to ₹466.9 crore.

What the Numbers Show

A critical divergence exists between the standalone and consolidated results. While the standalone entity reported a widened loss due to a one-time exceptional charge, the consolidated group demonstrated operational improvement with EBITDA turning positive to ₹352.0 crore from a negative ₹179.4 crore. This suggests that the subsidiary’s performance or consolidation adjustments contributed positively to the group’s bottom line, offsetting the parent company’s standalone challenges.

Corporate Actions

The Board of Directors did not recommend any dividend for FY26 due to the losses incurred. The company’s 42nd Annual General Meeting is scheduled for September 10, 2026, to approve financial statements and related party transactions. Shareholders will vote on material related party transactions with its holding company, Chettinad Cement Corporation Private Limited, and its subsidiary, Bhavya Cements Private Limited.