India Cements has issued a postal ballot notice seeking shareholder approval for the appointment of Mr. Tribhuwan Adhikari as a director liable to retire by rotation. The resolution aims to formalize his role as the nominee director representing Life Insurance Corporation of India (LIC).

The Board of Directors appointed Mr. Adhikari on August 6, 2026, effective August 7, 2026, succeeding Mr. Y. Viswanatha Gowd. Pursuant to Regulation 17(1C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company must secure member approval within three months of the appointment or at the next general meeting, whichever is earlier.

E-Voting Schedule

Shareholders can cast their votes through remote e-voting via the National Securities Depository Limited (NSDL) platform. The voting window opens on September 12, 2026, at 9:00 am and closes on October 11, 2026, at 5:00 pm.

The cut-off date for determining voting eligibility is September 7, 2026. Only members registered in the Register of Members or List of Beneficial Owners as of this date are eligible to vote. The notice is being dispatched electronically to shareholders with registered email IDs.

Director Profile

Mr. Tribhuwan Adhikari brings over 37 years of experience from his tenure at LIC, where he served as an Executive Director until his retirement on August 31, 2026. Prior to superannuation, he held the position of Managing Director and Chief Executive Officer at LIC Housing Finance Limited from 2023 to 2026.

His expertise spans administration, marketing, information technology, corporate governance, and strategy. He holds a Bachelor of Commerce degree. The Nomination and Remuneration Committee recommended his appointment based on his functional acumen and experience.

Mr. Adhikari will serve as a Non-Executive Nominee Director. He is not entitled to any remuneration other than a sitting fee of ₹50,000 per board meeting attended. He currently holds no shares in the company and has no relationships with other directors or key managerial personnel.

India Cements has agreed to acquire a 26% stake in Amplus TN One Energy Private Limited for up to ₹14.06 crore. The transaction, disclosed on September 2, 2026, aims to meet the company’s green energy requirements and optimise energy costs.

Transaction details

The following table summarises the key parameters of the acquisition:

The acquisition involves entering into Power Purchase Agreements and a Share Subscription and Shareholders Agreement. The deal is not a related-party transaction, and the promoter group has no interest in the target entity.

Strategic rationale

Amplus TN One Energy is a special purpose vehicle established for setting up 41.80 MW (AC) solar power projects integrated with Battery Energy Storage Systems (BESS). These projects are designed to supply renewable power on a captive basis to four cement manufacturing units located in Andhra Pradesh and Telangana.

India Cements stated that the move is intended to:

• Meet green energy needs
• Optimise energy costs
• Comply with regulatory requirements for captive power consumption under electricity laws

The target company was incorporated on June 6, 2024, and has reported nil turnover for the last three years. Its registered office is located in Gurugram, Haryana.