Saurashtra Cement has appointed Sonali Sanas as Chief Executive Officer (CEO) of its Paints Division, effective August 16, 2026. The appointment follows the resignation of Surender Bhatia, who will cease to be CEO and Key Managerial Personnel (KMP) effective August 14, 2026. This leadership change ensures continuity in the division’s management, with Sanas stepping in immediately after Bhatia’s departure.

The Board of Directors approved the appointment at its meeting held on June 18, 2026. The company disclosed the changes under Regulation 30 read with Clause 7 of Paragraph A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Surender Bhatia submitted his resignation letter dated May 15, 2026, serving a three-month notice period from May 15, 2026, to August 15, 2026. His resignation takes effect at the closure of business hours on August 14, 2026. Bhatia served as CEO and KMP for the Paints Division prior to his exit.

Sonali Sanas, currently the Chief Legal Officer, Company Secretary, and Chief Human Resource Officer at Saurashtra Cement, will assume the new role. She has been associated with the company for over 11 years. Sanas holds a postgraduate degree in Financial Management, is a qualified Company Secretary, and is a law graduate. Her executive education includes the Advanced Management Program from The Wharton School, University of Pennsylvania, USA; the General Management Program from IIM Raipur; and the CHRO Program from the Indian School of Business (ISB).

Leadership Profile

Sanas brings over 26 years of diverse leadership experience across governance, strategy, and human resource functions. Before joining Saurashtra Cement, she held senior leadership positions with the Ispat-Mittal Group, Hathway Cable & Datacom Limited, and the Dainik Bhaskar Group. Her expertise spans the Cement, Steel, Media, and Family Office sectors.

The transition aims to leverage Sanas’ extensive experience in corporate leadership and people management to drive the strategic development of the Paints Division. The company stated that her background positions her well to contribute to the continued growth of the segment.

Saurashtra Cement reported a notable decline in profitability for Q1, even as revenue registered modest year-on-year growth. The company's net profit dropped sharply to 92M rupees from 168M rupees in the corresponding quarter of the previous year, reflecting significant margin pressure during the period.

Revenue Performance

On the revenue front, Saurashtra Cement posted Q1 revenue of 4.56B rupees, compared to 4.2B rupees in the same quarter last year, indicating a year-on-year increase. However, the revenue growth was insufficient to offset rising cost pressures, which weighed heavily on the company's bottom line.

Profitability and Margin Metrics

The company's profitability metrics reflected a challenging operating environment during Q1. The following table summarises the key financial performance indicators on a year-on-year basis:

EBITDA for Q1 stood at 208M rupees, a steep decline from 347M rupees reported in the year-ago period. The EBITDA margin contracted sharply to 4.55% from 8.2% on a year-on-year basis, underscoring the pressure on operating profitability.

Key Financial Highlights

• Revenue increased to 4.56B rupees in Q1 from 4.2B rupees YoY
• Net profit declined to 92M rupees from 168M rupees YoY
• EBITDA fell to 208M rupees from 347M rupees YoY
• EBITDA margin contracted to 4.55% from 8.2% YoY

Overall, Saurashtra Cement's Q1 results reflect a period of margin compression, with EBITDA margin nearly halving on a year-on-year basis despite a moderate uptick in revenue. The sharp decline in both net profit and EBITDA highlights the cost challenges faced by the company during the quarter.