Shree Cement Limited has received a demand order from mining authorities in Rajasthan imposing a penalty of Rs 68.56 lacs for compliance violations at one of its mining operations. The company disclosed this development under regulatory requirements on March 24, 2026.

Penalty Details and Authority

The demand order was issued by the Superintending Mining Engineer, Office of the Mining Engineer, Department of Mines & Geology, Ajmer Circle, Rajasthan. The company received the order on March 23, 2026, which imposes a penalty of Rs 68.56 lacs.

Nature of Violations

The penalty stems from delayed compliance violations identified during an inspection conducted by Department of Mines & Geology officials at Sheopura Kesarpura Mines in 2013. The violations specifically relate to Clause 2 & 3 of Part IX of the Lease deed executed under Mineral Concession Rules, 1960.

Company's Response and Financial Impact

Shree Cement has indicated that the order will have no major financial impact on the company's operations. The management has stated that suitable legal actions will be taken in due course to address the demand order. This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company's assessment suggests that while the penalty amount is significant, it is not expected to materially affect the overall financial performance or operational activities of the listed entity.

Shree Cement Limited has successfully completed its postal ballot process, with shareholders approving the re-appointment of Mr. Hari Mohan Bangur as Chairman for another five-year term. The company declared the results on 23rd March, 2026, following the conclusion of the remote e-voting process, as communicated to NSE and BSE under Regulation 44(3) of SEBI LODR Regulations.

Postal Ballot Results Overview

The special resolution for Mr. Hari Mohan Bangur's re-appointment as Whole Time Director, designated as Chairman, received overwhelming support from shareholders. The resolution was deemed passed on 20th March, 2026, which was the last date of remote e-voting.

Voting Statistics and Shareholder Participation

The postal ballot witnessed significant participation across different shareholder categories. Out of 36,080,748 total outstanding shares, 30,868,658 votes were polled, representing 85.55% participation from 29,594 eligible shareholders.

Category-wise Voting Pattern

The voting pattern revealed unanimous support from promoter groups while showing mixed response from institutional investors.

Promoter and Promoter Group

Public Institutions

Public Non-Institutions

E-voting Process and Compliance

The postal ballot was conducted entirely through remote e-voting, with no physical ballot papers sent to shareholders. The e-voting facility was provided by MUFG Intime India Private Limited.

Scrutinizer Appointment and Regulatory Compliance

Mr. Akshit Kumar Jangid, Practicing Company Secretary, was appointed as the Scrutinizer for the postal ballot process. The entire process was conducted in compliance with Section 108 and Section 110 of the Companies Act, 2013, and relevant SEBI regulations. The scrutinizer's report confirmed the validity of the voting process and the accuracy of the results declared by the company. Company Secretary S.S. Khandelwal communicated the results to both NSE and BSE, fulfilling the regulatory disclosure requirements under SEBI LODR Regulations.