The shareholders of India Cements have approved the Material Related Party Transactions between the company and its holding company, UltraTech Cement Limited, through a postal ballot process conducted via remote e-voting. The resolution, classified as an Ordinary Resolution, was deemed duly passed on Wednesday, 6th May 2026, the last date specified for e-voting. The outcome was disclosed to the stock exchanges pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Process and Timeline

The postal ballot process was initiated pursuant to a notice dated 31st March 2026, with the record date fixed on the same day. The remote e-voting facility, provided by National Securities Depository Limited (NSDL), commenced at 09:00 A.M. (IST) on Tuesday, 7th April 2026 and concluded at 05:00 P.M. (IST) on Wednesday, 6th May 2026. An advertisement regarding the postal ballot and e-voting was published in Business Standard (English) and Hindu Tamil Thisai (Tamil) on 7th April 2026. The Postal Ballot Notice was sent electronically to members who had registered their e-mail addresses, and was also made available on the company's website, the BSE and NSE websites, and NSDL's e-voting portal.

Key details of the postal ballot are summarised below:

Scrutinizer's Role and Report

The Board of Directors appointed Mrs. P.R. Sudha, Company Secretary in Practice (Membership No. F6046, C.P. No. 4468), as Scrutinizer to oversee the e-voting process in a fair and transparent manner. Mrs. P.R. Sudha submitted her report dated 7th May 2026, confirming that the Ordinary Resolution was passed with the requisite majority. The votes were unblocked after the conclusion of the e-voting period on 6th May 2026, in the presence of two witnesses, Ms. M.K. Sangeetha and Ms. V. Revathy, who are not in the employment of the company.

Voting Results

The resolution pertained to the approval of Material Related Party Transactions between India Cements and UltraTech Cement Limited, the holding company. Promoters and the promoter group, who held 232416830 shares, did not participate in the e-voting as they were interested parties in the resolution. The detailed category-wise voting results are as follows:

Among the participating members, the resolution received strong support from institutional investors, with 100.00% of institutional votes cast in favour. Non-institutional public shareholders voted 98.61% in favour and 1.39% against.

Resolution-Wise Outcome

The Scrutinizer's Report provides a detailed breakdown of votes cast for and against the resolution:

Voted in Favour:

Voted Against:

Invalid Votes: Nil

Total votes cast: 673 members, representing 4,70,84,972 valid votes (100.00%).

The voting results and the Scrutinizer's Report have been made available on the company's website at www.indiacements.co.in . The electronic data and all other relevant records relating to remote e-voting will remain in the Scrutinizer's custody until the Chairman considers, approves, and signs the minutes, after which the records will be handed over to the company for safe keeping.

India Cements Limited has released the official transcript of its Q4 FY26 earnings conference call, conducted on 27th April 2026, in compliance with SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. The call was held jointly with UltraTech Cement Limited, reflecting the completed integration of India Cements as a subsidiary of the cement major.

Regulatory Disclosure and Corporate Structure

The transcript disclosure was made through official communications to both BSE Limited (Scrip Code: 530005) and National Stock Exchange of India Limited (Scrip Code: INDIACEM) on 2nd May 2026. The document was digitally signed by Krishnagopal Ladsaria, Chief Financial Officer of India Cements, confirming the company's continued compliance with regulatory requirements despite its subsidiary status under UltraTech Cement Limited.

UltraTech's Strategic Milestone Achievement

During the earnings call, UltraTech Cement Limited announced crossing the significant milestone of 200 million tons of cement production capacity in India, making it the first company globally to achieve this scale within a single country outside of China. The company's capacity expansion journey showed remarkable acceleration, growing from 100 million tons in 2019 to 200 million tons by FY26.

India Cements Integration Progress

The earnings call highlighted the successful completion of brand migration for India Cements, with 100% conversion to the UltraTech brand achieved by March 2026. This represented a significant acceleration from the gradual transition that began in Q2 FY26, when only 31% of India Cements volumes carried the UltraTech brand.

Financial Performance Improvements

India Cements demonstrated substantial operational improvements during the integration period:

The company reported a quarterly PAT of INR60 crores for Q4 FY26, marking a significant turnaround after an extended period. UltraTech management noted that the INR497 EBITDA per ton figure for India Cements reflects performance under a tolling arrangement, where India Cements manufactures and sells UltraTech-branded products while UltraTech handles marketing and distribution costs.

Investment and Expansion Plans

UltraTech has committed substantial investments for India Cements' operational enhancement:

• Efficiency Improvements: INR1,592 crores allocated for operational efficiency upgrades
• Capacity Expansion: INR400 crores designated for expanding production capacity
• Target Achievement: Management expects to exceed INR1,000 per ton EBITDA by fiscal 2028

Market Position and Future Outlook

The integrated entity now represents approximately 13% of UltraTech's consolidated capacity. UltraTech management expressed confidence in achieving sustainable volume growth of 7% to 8% per annum, supported by India's structural growth drivers including urbanization, infrastructure development, and housing demand.

Regulatory and Operational Framework

The earnings call transcript is available on India Cements' official website at www.indiacements.co.in , ensuring transparent communication with stakeholders. The company maintains its registered office at Dhun Building, 827, Anna Salai, Chennai - 600 002, while operating under the corporate office structure at Coromandel Towers in Chennai.

The successful integration and brand migration completion positions India Cements as a significant contributor to UltraTech's expanded operations, with management indicating that the assets are transitioning from integration challenges to meaningful earnings contributors as operational improvements mature.