Hemadri Cements Limited (in voluntary liquidation) held its 44th Annual General Meeting on September 29, 2026. The meeting approved the audited financial statements for the fiscal year ended March 31, 2026.

The company has been under voluntary liquidation since July 14, 2025. The proceedings were conducted via video conferencing and other audio-visual means. S. Rajendran serves as the liquidator.

Resolutions passed

Shareholders voted on four key items during the meeting:

• Adoption of the audited financial statements for FY26
• Reappointment of Swaminathan Nandhini as a director retiring by rotation
• Appointment of Sivasamy Raju as an independent director for a second five-year term
• Approval of an increase in the liquidator's fee from the second year of the voluntary liquidation process

Meeting details

The e-voting window opened at 10:00 am on Saturday, September 26, 2026, and closed at 5:00 pm on Monday, September 28, 2026. Voting also took place during the live meeting. Sivasamy Raju chaired the proceedings after being elected by the board members present.

The scrutinizer is expected to declare the voting results within 48 hours of the meeting's conclusion. These results will be published on the BSE website and the company's official portal.

Hemadri Cements Limited (BSE: 502133) reported a net loss of ₹60.08 lakh for the quarter ended June 30, 2026, narrowing significantly from the ₹286.56 lakh loss posted in the corresponding period of FY25. The cement manufacturer, which has been under voluntary liquidation since July 14, 2025, recorded zero revenue from operations as it winds down its business activities.

The financial results were prepared on a liquidation basis rather than a going concern basis, reflecting the ongoing asset realization process. Equity shares of the company have been suspended from trading on the Bombay Stock Exchange since November 24, 2025.

Financial Performance

The company’s total income for the quarter stood at ₹7.36 lakh, derived entirely from other income sources. This compares to ₹39.96 lakh in total income for the same quarter last year. Total expenses came in at ₹67.44 lakh, driven primarily by power and fuel costs of ₹28.43 lakh and other expenses of ₹39.01 lakh.

Earnings per share (EPS) stood at a loss of ₹0.90 per equity share, an improvement from the ₹4.30 loss per share recorded in Q1FY25. For the full fiscal year ended March 31, 2026, the company reported a net loss of ₹508.42 lakh.

Liquidation Progress

The voluntary liquidation process has seen active steps toward asset realization and creditor settlement. During December 2025, the valuation exercise was completed, and part of the assets were e-auctioned in accordance with the Insolvency and Bankruptcy Code, 2016. Proceeds from these sales were used to distribute funds to creditors based on their admitted claims in February 2026.

In July 2026, the liquidator initiated the process of interim distribution to equity shareholders at face value (₹10 per share). The liquidator continues to e-auction the remaining assets of the company to maximize recovery for stakeholders.

What the Numbers Show

The drastic reduction in total expenses—from ₹326.52 lakh in Q1FY25 to ₹67.44 lakh in Q1FY26—highlights the operational wind-down. With zero revenue from operations and minimal employee benefit expenses (₹0 lakh vs ₹65.66 lakh in the prior year), the company is effectively ceasing core business activities. The current losses are primarily driven by residual overheads such as power, fuel, and administrative costs associated with maintaining the entity during liquidation, rather than operational deficits.