Saurashtra Cement has entered into a long-term agreement for 14 MW of wind-solar hybrid power, committing an investment of ₹14.92 crore. The deal involves a Group Captive arrangement to meet the company's power requirements and sustainability objectives.

Agreement structure and parties

The company executed two distinct agreements on September 28, 2026. First, a Power Consumption Agreement was signed with Jamnagar Renewables Two Private Limited (the Power Producer). Second, a Share Purchase & Shareholders' Agreement was entered into with the Power Producer and Continuum Green Energy Limited (the Promoter).

The transaction is structured as a Group Captive Wind-Solar Hybrid arrangement, compliant with Electricity Rules, 2005. The investment takes the form of equity participation rather than a simple power purchase contract.

Key financial and operational terms

The following table outlines the critical parameters of the newly disclosed agreements:

The proposed equity investment of ₹14.92 crore involves purchasing 1,49,22,600 equity shares of Jamnagar Renewables Two Private Limited at a face value of ₹10 each. The tenure of the agreement extends up to 25 years from the actual commencement date, subject to a mandatory lock-in period of 7 years.

Regulatory and compliance details

The disclosure was made under Regulation 30 read with Part B of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the transaction does not fall within the definition of a related party transaction or a material related party transaction.

The total value of the agreement beyond the initial equity investment is not quantified at this stage, as it depends on actual energy consumption and tariffs over the tenure. The agreements are subject to the receipt of applicable statutory approvals.

Saurashtra Cement Limited announced that Sonali Sanas has resigned from her position as Company Secretary and Compliance Officer, effective September 25, 2026. The departure follows her transition to the role of Chief Executive Officer of the company's Paints Division.

The Board of Directors approved the resignation during a meeting held on August 6, 2026. Sanas continued to serve in her previous capacity until September 24, 2026, ensuring a structured handover before ceasing to hold office as Key Managerial Personnel (KMP).

Regulatory disclosures

The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirms that the reason for the change is resignation due to an internal role transition rather than external factors.

Governance implications

The move highlights an internal promotion strategy within the Mehta Group, where Sanas moves from a compliance-focused KMP role to a operational leadership position within a specific business vertical. The filing includes details mandated by the SEBI Master Circular dated January 30, 2026, alongside a copy of the resignation letter submitted by Sanas.