Star Cement Limited has confirmed that its Register of Members and Share Transfer Books will remain closed from Saturday, September 19, 2026, to Friday, September 25, 2026, in connection with its 25th Annual General Meeting (AGM). This procedural update coincides with the company’s Q1FY26 financial results, which reported a 25% year-on-year decline in consolidated net profit to ₹739.09 lakhs, driven by contracting EBITDA margins despite a marginal rise in revenue.

The AGM is scheduled to be held on Friday, September 25, 2026, at 11:30 a.m. via Video Conferencing. The notice was issued by Debabrata Thakurta, Company Secretary, on August 7, 2026, and submitted to the Listing Department of BSE Limited. During the meeting, shareholders are expected to approve the re-appointment of four key directors for a three-year term ending March 31, 2030.

Financial Performance Context

The book closure announcement follows the release of Q1FY26 results reviewed by Statutory Auditors Singhi & Co. Consolidated revenue from operations rose to ₹9,428.89 lakhs from ₹9,119.93 lakhs in Q1FY25. However, profitability faced pressure as EBITDA declined to ₹1.94 billion from ₹2.28 billion, with the EBITDA margin contracting to 20.63% from 25.02%.

The Board attributed the non-comparable tax expense to the adoption of the concessional income tax rate under Section 115BAA of the Income-tax Act, 1961, effective April 1, 2026. Additionally, the Group recognized a provision of ₹579.94 lakhs as an exceptional item in Q4FY26 related to new Labour Codes implementation.

Board Re-appointments

Subject to shareholder approval at the AGM, the Board has recommended the re-appointment of the following executives for a three-year term:

• Sajjan Bhajanka as Chairman & Managing Director
• Sanjay Agarwal as Managing Director
• Prem Kumar Bhajanka as Vice Chairman & Managing Director
• Pankaj Kejriwal as Executive Director

These appointments were made pursuant to the recommendation of the Nomination and Remuneration Committee. The disclosures confirm familial relationships within the Bhajanka family, including Sajjan Bhajanka being the father of Non-Executive Director Keshav Bhajanka, and Prem Kumar Bhajanka being the father of Managing Director & CEO Tushar Bhajanka.

What the Numbers Show

The divergence between rising revenue and falling profitability highlights the impact of changing regulatory costs and margin pressures. The contraction in EBITDA margin — from 25.02% to 20.63% — alongside the decline in net profit, underscores the effect of the new concessional tax regime and provisions for Labour Code compliance on the group's cost structure. The standalone segment showed tighter margins compared to the consolidated view, suggesting that subsidiary performance played a significant role in overall group profitability dynamics this quarter.

Star Cement Limited has completed the dispatch of its postal ballot notice seeking shareholder approval for the re-appointment of Mr. Tushar Bhajanka as Managing Director & CEO and the change in designation for Mr. Prem Kumar Bhajanka. The notice was sent electronically on July 9, 2026, to members whose email addresses are registered with the company or its Registrar and Transfer Agent, M/s. Maheshwari Datamatics Private Limited, as on the cut-off date of July 3, 2026. Physical copies have been dispensed with in compliance with Ministry of Corporate Affairs and SEBI circulars. Newspaper advertisements confirming the dispatch were published on July 10, 2026, in the Financial Express and Hima (Khasi Edition).

The Board of Directors has approved the re-appointment of Mr. Tushar Bhajanka for a period of three years effective from May 22, 2026, to May 21, 2029. The company proposes to pay him a remuneration of ₹3,00,00,000 per annum along with a yearly incentive of up to 2% of the Consolidated EBITDA for the financial year 2026-27 and onwards. Shareholders are also being asked to approve the payment of remuneration for the period from April 1, 2026, to May 21, 2026, during his tenure as Deputy Managing Director.

In addition to Mr. Tushar Bhajanka's appointment, the company seeks approval to change the designation of Mr. Prem Kumar Bhajanka to Vice Chairman & Managing Director for his remaining tenure, which extends up to March 31, 2027. Mr. Prem Kumar Bhajanka, aged 68, is a Commerce Graduate with over 46 years of industry experience and has been a Director on the Board since 2002.

The remote e-voting process, managed by National Securities Depository Limited (NSDL), is scheduled to commence on July 11, 2026, at 9:00 a.m. IST and conclude on August 9, 2026, at 5:00 p.m. IST. Shareholders whose email addresses are not registered with the depositories must register by July 24, 2026, to participate. The Board has appointed Mr. Raj Kumar Bhanthia and, failing him, Mr. Manoj Kumar Bhanthia, Partners of M/s. MKB & Associates, as the Scrutinizer for the process.

The results of the postal ballot along with the Scrutinizer's report are expected to be declared on or before August 11, 2026, at the Registered Office of the Company. The results will be displayed on the company's website and simultaneously forwarded to BSE Limited and National Stock Exchange of India Limited.

Key Details of the Resolutions

Director Profiles