Panyam Cements & Mineral Industries concluded its 70th Annual General Meeting on September 30, 2026. The meeting was conducted virtually through Video Conferencing and Other Audio-Visual Means.

Shareholders approved the adoption of the financial statements for FY26. The company also ratified the remuneration payable to its cost auditors during the session.

Key resolutions passed

The following items of business were transacted and approved by the members:

1. Adoption of the Financial Statement for FY26.
2. Re-appointment of Mr. Narayanasamy Elamaran (DIN: 01744259), who was liable to retire by rotation.
3. Ratification of remuneration payable to the cost auditors.

Meeting proceedings and attendance

The meeting commenced at 11:30 am and concluded at 12:26 pm. Mr. Ramachandran Balachandran served as the Chairman for the session. A total of 60 members attended the meeting through video conferencing.

The statutory registers were kept open for inspection, accessible to shareholders who sent requests to the company email ID. Remote e-voting facilities were available from September 27, 2026, to September 29, 2026. Members attending the live session who had not voted remotely could cast their votes electronically during the meeting.

Director participation

The following directors were present at the meeting:

Key officers in attendance included Mr. Venkateshwara Rao (Statutory Auditor), Mr. CS Reddy (Chief Executive Officer), Mr. Srikanth (Secretarial Auditor & Scrutinizer), and Mr. Sunki Reddy Pitchi Reddy (Chief Financial Officer).

The Chief Executive Officer addressed questions raised by members who registered as speakers. Voting results and the consolidated Scrutinizer’s Report are scheduled to be informed to stock exchanges and placed on the company website within two working days.

Panyam Cements & Mineral Industries Limited reported a net loss of ₹2,301.57 lakh for the quarter ended June 30, 2026 (Q1FY27), marking a widening of losses compared to ₹1,888.89 lakh in the corresponding period last year.

The company’s revenue from operations rose significantly to ₹3,534.42 lakh in Q1FY27, up from just ₹30.39 lakh in Q1FY26. Despite the sharp increase in top-line revenue, total expenses climbed to ₹6,170.64 lakh, driven largely by higher power and fuel costs and finance charges, resulting in a loss before tax of ₹2,301.57 lakh.

Financial Performance Overview

The company’s financial results for Q1FY27 highlight a substantial recovery in operational activity compared to the depressed levels seen in Q1FY26. However, the cost structure remains heavy relative to current revenue generation.

Key expense components saw notable increases year-on-year. Power and fuel expenses rose to ₹2,396.71 lakh from ₹347.84 lakh in Q1FY26. Finance costs also increased to ₹1,163.34 lakh from ₹1,004.90 lakh in the previous year’s first quarter.

What the Numbers Show

A critical observation from the Q1FY27 results is the divergence between revenue growth and profitability. While revenue from operations increased more than hundredfold due to a low base effect in Q1FY26, the company remained deeply unprofitable. The loss before tax widened by approximately 21.8% YoY, indicating that the surge in revenue did not sufficiently cover the escalating operating and financing costs. Additionally, the company did not recognize any deferred tax assets, citing uncertainty regarding the earning of taxable profits in the near future.

Leadership Changes

Concurrent with the approval of financial results, the Board of Directors appointed Sunki Reddy Pitchi Reddy as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective September 29, 2026.

Reddy brings over 30 years of experience in business review, finalization of accounts, corporate compliance, and income tax matters. He is a member of ICWAI and holds an MBA in Finance. The appointment was made pursuant to SEBI Listing Regulations, with the term defined as full-time employment.

Regulatory Disclosures

The unaudited financial results were reviewed by the Audit Committee and approved by the Board on September 29, 2026. Statutory auditors K S Rao & Co conducted a limited review of the results for the quarter ended June 30, 2026, stating that nothing came to their attention causing them to believe the statements were materially misstated.