Shree Cement has received a request from Riya Puja Jain to reclassify her shareholding from the "Promoter Group" to the "Public" category. The request was submitted on October 8, 2026, invoking Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Jain currently holds 2,050 equity shares, representing 0.0057% of the company's total paid-up capital. She stated that her classification as a member of the Promoter Group is solely due to her relationship with the promoters. She asserted that she does not exercise any control, directly or indirectly, over the affairs of the company and leads an independent life.

Regulatory Undertakings

In her letter to the Board of Directors, Jain provided several undertakings to support her application for reclassification. She confirmed that she does not hold more than 10% of the paid-up equity share capital and is not involved in the management or affairs of the company.

Key declarations include:

• She does not have any special rights through formal or informal arrangements or shareholder agreements.
• She is not represented on the board of directors and does not have a nominee director.
• She does not act as Key Managerial Personnel (KMP) of the company.
• She is not a wilful defaulter as per Reserve Bank of India guidelines or a fugitive economic offender.

Furthermore, Jain undertook to comply with specific conditions outlined in Regulation 31A(3) of the SEBI LODR Regulations. This includes adhering to conditions regarding control and special rights for a period of not less than three years from the date of reclassification. Failure to comply with these conditions would result in her reclassification as a promoter.

Shareholding Details

The following table outlines the shareholding position of the applicant at the time of the request:

Next Steps

The Board of Directors will consider this request in an ensuing meeting. The process may involve seeking approval from stock exchanges and shareholders, as required under applicable laws. The company has enclosed the request letter for record purposes.

Shree Cement lost an appeal regarding a Goods and Services Tax (GST) demand at the Joint Commissioner of Appeals in Hyderabad. The authority dismissed the challenge against an earlier order passed by the Superintendent, Central Tax, Punjagutta.

The appellate order dated October 6, 2026, reinstated a tax demand of ₹9.88 lakh along with a penalty of ₹1.17 lakh. This demand relates to allegations of wrong availment of Input Tax Credit (ITC). While the authority dropped a smaller separate demand of ₹37,083 and its associated penalty, the primary dispute remains unresolved.

Order details

The breakdown of the orders passed by the Joint Commissioner of Appeals highlights the partial relief and the confirmed liabilities.

The company stated that the order has no major financial impact on its operations. It noted that the adjudicating authority did not consider the facts and averments submitted during the proceedings.

Next steps

Shree Cement intends to file an appeal before the GST Appellate Tribunal within the prescribed time under Section 112 of the Telangana GST Act, 2017. The company aims to contest the order based on its merits.