Shri Keshav Cements & Infra held its 33rd Annual General Meeting on September 18, 2026, at its registered office in Belagavi. The meeting focused on governance matters, including the adoption of financial statements and director reappointments.

Venkatesh H. Katwa chaired the session, which commenced at 10:00 am with 25 members present in person. Mrs. Nikita Karnani, Company Secretary, welcomed attendees and confirmed that e-voting facilities were available for all resolutions. Members present who had not voted electronically were given the opportunity to vote by poll. Mr. Akshay Jadhav was appointed as the scrutinizer to oversee the voting process.

Ordinary Business

The board transacted ordinary business items as per the notice. Key actions included:

• Adoption of the audited balance sheet as on March 31, 2026, and the profit and loss account for the year ended on that date.
• Approval of the directors’ and auditors’ reports.
• Reappointment of Mr. Deepak Katwa as a director in place of his retirement by rotation.

Special Business

The meeting addressed several special resolutions related to management remuneration and auditor appointments:

• Ratification of the remuneration of cost auditors for the financial year ending March 31, 2027.
• Reappointment of Mr. Vilas Katwa as Managing Director.
• Approval of remuneration for Mr. Vilas Katwa, Mr. Venkatesh Katwa (Executive Director/Chairman), and Mr. Deepak Katwa (Executive Director/CFO) in excess of limits prescribed under Section 197 of the Companies Act, 2013, and Regulation 17(6)(e) of the SEBI (LODR) Regulations, 2015.

The AGM concluded at 11:50 am.

Shri Keshav Cements & Infra Limited has scheduled its 33rd Annual General Meeting for Friday, September 18, 2026, at 10:00 am at its registered office in Belagavi. The company announced the agenda on August 25, 2026.

The register of members and share transfer books will remain closed from September 12, 2026, to September 18, 2026, both days inclusive, to determine voting eligibility.

E-Voting Schedule

Remote e-voting via National Securities Depository Limited (NSDL) opens on September 15, 2026, at 9:00 am and closes on September 17, 2026, at 5:00 pm. The cut-off date for determining eligibility is September 11, 2026. Nikita Karnani, Company Secretary, is the designated contact for e-voting coordination.

Financial Context

Shri Keshav Cements reported a record annual revenue of ₹161.31 crore for FY26, a 32.8% increase from ₹121.45 crore in FY25. Despite top-line growth, the company recorded a net loss of ₹6.53 crore, widening from the ₹6.17 crore loss in FY25.

Total expenses rose to ₹165.68 crore from ₹126.30 crore. Finance costs increased to ₹21.56 crore from ₹18.10 crore, reflecting higher borrowing obligations linked to capacity expansion projects.

What the Numbers Show

While operational revenue grew significantly, the bottom line was heavily impacted by non-operational tax charges. The company recorded a deferred tax charge of ₹5.48 crore, compared to ₹4.43 crore in FY25. This tax expense, driven by incremental liabilities on property, plant, and equipment, effectively erased pre-tax improvements and contributed to the wider net loss. Other income remained stable at ₹3.32 crore, indicating that revenue growth was purely operational rather than aided by significant one-off gains.

Balance Sheet and Governance Signals

The debt-equity ratio rose to 2.64 times from 2.43 times, signaling increased leverage as expansion is funded. Cash and cash equivalents stood at a lean ₹29.22 lakh as of March 2026.

Statutory auditors issued a qualified opinion due to an ongoing Goods and Services Tax (GST) investigation by the Directorate General of Goods and Services Tax Intelligence (DGGI). The company paid ₹8.60 crore towards GST and interest under protest in 2020-21 and 2021-22. As no final order has been passed, auditors could not comment on the ultimate impact of this amount held in other current assets.

Agenda Items

Shareholders will consider several ordinary and special business items:

• Adoption of Financials: Consider and adopt the audited balance sheet as of March 31, 2026, and the profit and loss account for the year ended on that date.
• Director Reappointment: Reappoint Mr. Deepak Katwa (DIN: 00206445), who retires by rotation.
• Cost Auditor Remuneration: Ratify remuneration for M/s. Santosh Kalburgi & Co., Cost Auditors, at ₹95,000 plus taxes and expenses for FY27.
• Managing Director Reappointment: Reappoint Mr. Vilas Katwa (DIN: 00206015) as Managing Director for five years, from May 27, 2027, to May 26, 2032.

Additionally, the Board seeks shareholder approval via special resolutions to ratify managerial remuneration for three executive directors—Venkatesh Katwa, Vilas Katwa, and Deepak Katwa—at levels exceeding limits prescribed under Section 197 of the Companies Act, 2013, and Regulation 17(6)(e) of SEBI (LODR) Regulations, 2015. Each director receives ₹3,00,000 per month, revised since May 2024. This request is necessitated by the company’s loss-making status in FY26.