JSW Cement Limited has received shareholder approval to re-appoint two key directors through a remote e-voting process. The resolutions for the re-appointment of Mr. Nilesh Narwekar as Whole-time Director and Chief Executive Officer and Mr. Sumit Banerjee as an Independent Director were passed with the requisite majority. The postal ballot process, which sought approval for these appointments, concluded on July 12, 2026, with the scrutinizer submitting the report on July 13, 2026.

Voting Results

The re-appointment of Mr. Nilesh Narwekar (DIN: 06908109) was passed as an ordinary resolution. A total of 1,104,754,346 votes were polled, with 1,077,737,545 shares, or 97.55%, voting in favour. The resolution received 27,016,801 votes against it.

The re-appointment of Mr. Sumit Banerjee (DIN: 00213826) was passed as a special resolution. This resolution secured 1,098,939,692 votes in favour, representing 99.47% of the total valid votes cast. A total of 5,813,281 votes were cast against this resolution.

Process Details

The remote e-voting was conducted via the National Securities Depository Limited (NSDL) e-voting system. The voting period opened on June 13, 2026, at 9:00 a.m. IST and closed on July 12, 2026, at 5:00 p.m. IST. The cut-off date for determining shareholder eligibility was June 5, 2026, on which the company had 452,119 shareholders on record.

Meghana Mhatre, proprietor of Meghana Mhatre & Associates, Company Secretaries, served as the Scrutinizer for the process. The report confirms that the votes were unblocked on July 13, 2026, in the presence of two witnesses not employed by the company. The results have been submitted to the BSE and NSE and are available on the company's website.

JSW Cement Limited has released its Integrated Annual Report for FY 2025-26, reporting strong financial performance with revenue from operations rising 12% to ₹6,512 crore and Operating EBITDA surging 43.5% to ₹1,240 crore. The company delivered its highest-ever consolidated sales of 13.96 million tonnes, a 10.6% increase over the previous year, while Adjusted Profit After Tax stood at ₹667.60 crore. These results were driven by volume growth and a 16% reduction in finance costs to ₹377.96 crore following its IPO in August 2025. The Board has recommended a dividend of ₹0.50 per equity share of ₹10 each for the year ended March 31, 2026, subject to shareholder approval at the 20th Annual General Meeting (AGM) scheduled for Friday, July 31, 2026, at 12:00 Noon via Video Conferencing (VC) / Other Audio Visual Means (OAVM).

AGM and Report Access

The Notice of the AGM and the Integrated Annual Report are available electronically. Shareholders whose email addresses are not registered with the depositories or the company can access the report at https://www.jswcement.in/annual-report . The report is also available on the websites of BSE Limited, National Stock Exchange of India Limited, and the Registrar and Share Transfer Agent, KFin Technologies Limited.

FY 2025-26 Financial Performance

The company's EBITDA margin improved to 19.9% from 14.8% in the previous year, while Net Worth grew significantly by 175.16% to ₹6,527.85 crore. The Net Debt to TTM EBITDA ratio stood at 2.72x. The Adjusted Profit After Tax figure excludes a non-cash fair value expense of ₹1,466.38 crore related to the conversion of Compulsory Convertible Preference Shares (CCPS) into equity shares prior to the IPO. On a standalone basis, Total Income for FY 2025-26 stood at ₹6,228.74 crore, with standalone Operating EBITDA of ₹1,193.71 crore, up 37.77% YoY. Standalone Adjusted Profit After Tax stood at ₹767.71 crore, an increase of 204.21% over the previous year.

Production and Sales Performance

JSW Cement achieved record production and sales volumes during the year. Total production (Cement + GGBS) increased 9.7% to 13.58 MT, while clinker production grew 19.6% to 3.74 MT. Capacity utilisation stood at 64%, outperforming the industry's YoY volume growth of 6% across key operating markets. GGBS sales reached 5.78 million tonnes, growing 11.6% YoY, with the company maintaining an estimated all-India GGBS market share of approximately 84%.

Capacity Expansion and Strategic Developments

The company commissioned a greenfield integrated cement manufacturing facility at Nagaur, Rajasthan, with a clinkerisation capacity of 3.30 MTPA and an initial cement grinding capacity of 2.50 MTPA, marking its entry into the North India market. Shiva Cement commissioned a 1.0 MTPA grinding unit at Sambalpur, Odisha. Total installed grinding capacity reached 24.1 MTPA, and consolidated clinker capacity stood at 9.74 MTPA. The company incurred a capex of ₹1,947 crore during FY 2025-26 and targets a grinding capacity of 35.25 MTPA by CY 2028, with a long-term ambition of reaching 46.0 MTPA. The company also raised ₹1,600 crore through a fresh issue in its IPO in August 2025, with ₹520 crore utilised for debt repayment.

Sustainability and ESG Highlights

JSW Cement maintained its position as a low carbon-intensity producer with a Scope 1+2 CO2 emission intensity of 269 kg/tcm and a clinker factor of 51%. Green cementitious products accounted for 77% of total volumes sold. The company ranked 1st globally in the construction materials sector in S&P Global's Corporate Sustainability Assessment (CSA) and secured approval for two Carbon Capture & Utilisation (CCU) testbeds at Shiva and Nandyal plants. The company also received the Golden Peacock Innovation Management Award and was featured in the S&P Global Sustainability Yearbook for 2026. Credit ratings were upgraded during the year, with Crisil Ratings upgrading the long-term bank loan rating to Crisil AA-/Stable and short-term ratings to Crisil A1+.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE718I01012/5a941febb063482a.pdf