Ramco Cements approves ₹2.50 dividend, reappoints MD at AGM
- Ramco Cements declared a final dividend of ₹2.50 per equity share for FY26
- Shareholders reappointed P.R. Venketrama Raja as Managing Director
- All four ordinary resolutions passed with over 97% support
- Total vote participation reached 77.77% of outstanding shares
- Promoter group voted 100% in favor of all agenda items
*this image is generated using AI for illustrative purposes only.
Ramco Cements shareholders approved a final dividend of ₹2.50 per share and the reappointment of Managing Director P.R. Venketrama Raja at the company’s 68th Annual General Meeting held on August 20, 2026.
The meeting, conducted via video conferencing, saw the adoption of audited financial statements for FY26 and the ratification of cost auditor remuneration. All four resolutions were passed with requisite majorities.
Key Resolutions Passed
Shareholders voted on four ordinary resolutions during the meeting. The promoter group held 100,554,774 shares and voted in full on all agenda items.
| Resolution | Description | Votes In Favour | Votes Against | Result |
|---|---|---|---|---|
| 1 | Adoption of Audited Financial Statements for FY26 | 183,723,355 | 22 | Passed |
| 2 | Declaration of Dividend of ₹2.50 per share | 183,768,117 | 12 | Passed |
| 3 | Reappointment of MD P.R. Venketrama Raja | 178,544,163 | 5,223,966 | Passed |
| 4 | Ratification of Cost Auditor Remuneration | 183,766,997 | 1,132 | Passed |
Voting Dynamics
Total votes polled stood at 183,768,129 out of 236,292,380 outstanding shares, representing a 77.77% participation rate. The promoter group cast 100% of their holdings in favor of every resolution.
Institutional investors accounted for the bulk of public voting, with 80,781,112 shares polled from the public-institution category. Non-institutional public shareholders polled 2,432,243 votes.
Notable Opposition
The resolution to reappoint Managing Director P.R. Venketrama Raja faced the highest dissent. While it passed with 97.16% support, it received 5,223,966 votes against. This opposition originated entirely from the public-institution category, which voted 6.47% against the reappointment. Other resolutions saw negligible dissent, with fewer than 1,200 opposing votes each.
Corporate Governance
The Board ratified remuneration of ₹7,50,000 (exclusive of GST) to M/s. Geeyes & Co., Cost Accountants, for auditing cost records related to cement manufacturing and wind energy generation for FY27.
Statutory auditors SRSV & Associates and Ramakrishna Raja And Co., along with secretarial auditor Sriram Krishnamurthy & Co., attended the meeting via video conference. The e-voting process was scrutinized by K. Srinivasan of M/s. M.S. Jagannathan & N. Krishnaswami.
Historical Stock Returns for Ramco Cements
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.71% | -6.54% | -4.26% | -20.07% | -18.64% | -15.33% |
How might the 6.47% institutional dissent against the MD's reappointment influence future corporate governance reforms or board composition at Ramco Cements?
Given the dividend payout of ₹2.50 per share, what is the expected impact on Ramco's free cash flow and capital allocation strategy for upcoming expansion projects?
Will the ratification of cost auditor remuneration for wind energy generation signal an accelerated shift in Ramco's revenue mix towards renewable energy sources?
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