Saurashtra Cement Limited has updated the effective date for the appointment of Mrs. Jayashree D. Soni as Company Secretary and Key Managerial Personnel (KMP). The change was disclosed in a regulatory filing on September 18, 2026.

Mrs. Soni will now join the company on October 1, 2026, replacing the previously communicated start date of September 25, 2026. This adjustment follows her intimation to the board regarding her availability.

Regulatory Context

The disclosure was made under Regulation 30 read with Clause 7 of Paragraph A, Part A, Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

The initial intimation regarding Mrs. Soni’s appointment as Company Secretary, Compliance Officer, and KMP was issued on August 6, 2026 (Ref: B/SCL/SE/SS/250/2026-27). The current update supersedes the earlier effective date while maintaining the original roles assigned to her.

Key Details

• Appointee: Mrs. Jayashree D. Soni
• Roles: Company Secretary, Compliance Officer, Key Managerial Personnel
• Original Effective Date: September 25, 2026
• Revised Effective Date: October 1, 2026
• Disclosure Date: September 18, 2026

The filing was signed by Sonali Sanas, Chief Legal Officer, Company Secretary & Strategy, Membership No. A16690.

Saurashtra Cement has scheduled its 68th Annual General Meeting for September 23, 2026, at 4 pm IST via video conferencing, with key governance resolutions including the reappointment of Managing Director M.S. Gilotra.

Shareholders holding shares as of the September 16, 2026 cutoff date are eligible to vote. Remote e-voting runs from September 20 to September 22, 2026. The book closure period is September 17 to September 23, 2026.

Board Appointments and Remuneration

The primary special business involves the reappointment of M.S. Gilotra as Managing Director for a one-year term from January 1, 2027 to December 31, 2027. His proposed monthly basic salary of ₹32,28,747 represents a 12% increase over his previous basic salary. The total cost to company (CTC) stands at ₹71,36,049 per month, inclusive of allowances, provident fund contributions, and superannuation benefits.

The following table summarises the proposed remuneration structure:

Gilotra is also eligible for reimbursement of business expenses, medical and personal accident insurance, car with driver, and club fees. The appointment may be terminated by either party with three months' written notice.

A separate special resolution seeks shareholder approval for commission at 5% annually to Jay Mehta, Chairman (Non-Executive, Non-Independent Director), subject to the company's profitability and applicable provisions of the Companies Act, 2013. This commission is in addition to sitting fees payable for board and committee meetings.

Other Governance Matters

The AGM will also address the following ordinary and special business items:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Reappointment of Hemang Dhirendra Mehta as a Non-Executive, Non-Independent Director, retiring by rotation.
• Ratification of M/s. M. Goyal & Co as Cost Auditors for FY27 at a remuneration of ₹1,25,000 plus GST.
• Confirmation of M/s. Manubhai & Shah LLP as Statutory Auditors until the conclusion of the 69th AGM.

Financial Context

The following table presents key standalone financial highlights for FY26 versus FY25 (all figures in ₹ lakhs):

The company reported a turnover of ₹1,684.76 crore (including other income) and a net profit of ₹14.42 crore after tax in FY26. Export revenue remained minimal at ₹0.09 crore during the period. The cement division revenue increased approximately 8% despite lower price realisations, supported by higher sales volume and completion of the cement grinding modernisation project at Sidheegram. The paints division revenue was approximately 12% higher than the previous year. The Government of India reduced GST on cement from 28% to 18% with effect from September 22, 2025, and the company passed on the benefit to customers.

What the Numbers Show

The proposed 12% hike in the Managing Director's basic salary contrasts with a relatively modest net profit outcome for FY26. The improvement in profit for the year to ₹1,441.83 lakhs from ₹698.25 lakhs was driven primarily by a reversal of deferred tax liabilities following the company's adoption of the new tax regime, rather than an underlying operational step-change. Operating profit margin improved to 4.26% from 3.96%, reflecting lower energy costs. With exports contributing less than 0.01% of total revenue, the company's revenue generation remains heavily concentrated in the domestic market. The debt-equity ratio improved to 0.11 from 0.14, indicating reduced leverage.