Saurashtra Cement Limited has received an order from the Commissioner of Income Tax (Appeals), National Faceless Appeal Center (NFAC), dated July 10, 2026, allowing the company's appeal partly for the Assessment Year 2020-21. The order was received by the company on July 11, 2026. The company stated that there will be no additional financial impact on its operations due to this appellate order.

Following the receipt of the order, the company is initiating further legal action. It is filing a second appeal before the Income Tax Appellate Tribunal, Rajkot, against the appellate order of the Commissioner of Income Tax (Appeals).

The disclosure was made to the exchanges under Regulation 30 read with Para B of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of the Order

Saurashtra Cement has appointed Ms. Sonali Sanas as the Chief Executive Officer (CEO) of its Paints Division, effective August 16, 2026. The appointment follows the resignation of Mr. Surender Bhatia and aims to ensure continuity in the company's paints business segment. Ms. Sanas, a seasoned executive with over 26 years of experience, will transition from her current role as CEO (Designate) to lead the division. The Board of Directors approved the appointment based on the recommendation of the Nomination & Remuneration Committee at its meeting held on June 18, 2026.

Leadership Profile

Ms. Sonali Sanas brings a broad and varied professional background to her new role. Her career spans multiple industries, having held positions at well-known organizations across sectors including steel, media, and telecommunications. She has been associated with Saurashtra Cement for over 11 years, currently serving as Chief Legal Officer and Company Secretary, and has served as Chief Human Resource Officer for the past year.

The key highlights of Ms. Sanas's professional background are as follows:

Cross-Industry Experience

Ms. Sanas's prior associations span diverse corporate environments. Her tenure at Ispat-Mittal Group provided exposure to large-scale industrial operations, while her experience at Hathway Cable & Datacom reflects a background in the telecommunications and cable services sector. Additionally, her work with Dainik Bhaskar Group, one of India's prominent media conglomerates, rounds out a multi-sector professional profile.

She has played a key role in supporting Snowcem Paints across strategic and operational areas since the acquisition of the paints business. Ms. Sanas is a qualified Company Secretary, a law graduate, and holds a postgraduate degree in Financial Management. She has completed executive education programmes at premier institutions including The Wharton School, IIM Raipur, and the Indian School of Business.