Shri Keshav Cements and Infra Limited has disclosed substantial acquisitions by its promoter group entities through off-market transactions completed on 30/03/2026. The acquisitions involved four separate entities purchasing additional equity stakes in the cement and infrastructure company, with all transactions conducted in compliance with SEBI regulations.

Transaction Overview

The off-market acquisitions involved a total of 234,000 equity shares, representing 1.3360% of the company's total share capital. All transactions were completed on 30/03/2026 between promoter group entities, with the company's total equity share capital remaining constant at 1,75,12,752 shares.

Detailed Acquisition Breakdown

The following table summarizes the individual acquisitions by each promoter entity:

Regulatory Compliance

The acquisitions were disclosed in accordance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. All acquiring entities belong to the promoter group of the company and have submitted the required disclosures to BSE Limited.

Key Transaction Details

The transactions demonstrate continued confidence by the promoter group in the company's prospects. Key aspects of the acquisitions include:

• Transaction Mode: All acquisitions were conducted through off-market transactions
• Transaction Date: 30/03/2026 for all four acquisitions
• Regulatory Status: All acquirers confirmed as promoter group entities
• Share Capital Impact: No change in total equity share capital of 1,75,12,752 shares

Post-Acquisition Holdings

Following these transactions, the collective shareholding of these four promoter entities has increased to 47.2609% from 45.9246% of the company's total share capital. The acquisitions represent internal restructuring within the promoter group rather than external investment, maintaining the existing ownership structure while consolidating stakes among key promoter entities.

The company has fulfilled all disclosure requirements under applicable SEBI regulations, with formal notifications submitted to BSE Limited by both the company and individual acquiring entities.

Shri Keshav Cements and Infra Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025, demonstrating robust revenue growth and significant EBITDA margin expansion. The company's Board of Directors approved the results at their meeting held on February 13, 2026, with results submitted to BSE under Regulation 30. Following the strong quarterly performance, the company conducted an analyst/investor conference call on February 16, 2026, and has now made both the audio recording and complete earnings call transcript available.

Strong Revenue Performance Across Segments

The company reported impressive revenue growth across its business segments during Q3FY26. Total revenue from operations reached Rs. 3,792.99 lakhs, marking a significant 35% increase compared to Rs. 2,810.19 lakhs in the corresponding quarter of the previous year.

The cement segment emerged as the primary growth driver, contributing Rs. 3,117.52 lakhs in revenue compared to Rs. 2,145.25 lakhs in Q3FY25. Management reported cement volume growth of 32% year-on-year, with 78,000 tons sold in Q3FY26 compared to 58,960 tons in Q3FY25.

Significant EBITDA Margin Expansion Despite Quarterly Loss

Despite strong revenue performance, the company faced quarterly profitability challenges while achieving substantial EBITDA improvements. The company reported a net loss of Rs. 0.54 crores in Q3FY26, contrasting with a profit of Rs. 0.64 crores in Q3FY25. However, EBITDA surged 63.10% to Rs. 10.50 crores with margin expansion of 477 basis points to 27.68%.

Nine-Month Performance Shows Strong Turnaround

The nine-month period ended December 31, 2025, presented an impressive turnaround for the company. Revenue from operations reached Rs. 11,404.89 lakhs, representing a 37% increase from Rs. 8,302.43 lakhs in the corresponding period of the previous year.

Earnings Call Transcript and Management Commentary

Following the Board meeting on February 13, 2026, Shri Keshav Cements and Infra Limited conducted an analyst/investor conference call on February 16, 2026 at 11:30 AM. The company has now released the complete earnings call transcript along with the audio recording under SEBI Regulation 30.

During the earnings call, Chairman Mr. Venkatesh Katwa highlighted the company's strengthening performance across revenue, margins, and profitability. He emphasized that operational efficiencies improved meaningfully during the period, supported by higher capacity utilization and disciplined cost control. The company currently operates at 31% capacity utilization and expects to reach 40% by year-end.

Strategic Advantages and Market Expansion

Management outlined several competitive advantages during the earnings call. The company's 100% green energy usage provides structural cost advantages, with annual power cost savings of approximately Rs. 25-26 crores. The proximity to consumption markets reduces logistics costs, while the Karnataka-Maharashtra border location provides access to both southern and western markets.

The company has successfully expanded into Coastal and Southern Maharashtra markets during Q3FY26, diversifying beyond the traditional southern market focus. Additionally, the introduction of GGBS (Granulated Ground Blast Furnace Slag) as a new product has opened opportunities in national highway projects.

Debt Reduction and Financial Stability

The company demonstrated strong financial discipline with term debt reduction from Rs. 188 crores to Rs. 159 crores, marking a 15% decrease. Management expects repayment obligations to reduce by 16.4% in the next financial year due to closure of three term loans in FY26.

The company operates with a current capacity of 1,100 TPD across two cement manufacturing plants in Karnataka, supported by 40 MW solar power facility. With 25 MW utilized for captive consumption and 15 MW sold in the market, the integrated solar operations provide sustainable competitive advantages in the challenging cement market environment.