Star Cement AGM passes all 12 resolutions including director re-appointments
- All 12 resolutions at Star Cement's 25th AGM on September 25, 2026 were passed with requisite majority
- Four key directors re-appointed for three years from April 1, 2027 to March 31, 2030: Sajjan Bhajanka, Prem Kumar Bhajanka, Sanjay Agarwal, and Pankaj Kejriwal
- Shareholders confirmed two interim dividends of ₹1 per equity share each declared during FY2025-26
- Material related party transactions approved with Star Smart Building Solutions Limited up to ₹1000 crore and with Star Cement North East Limited up to ₹3000 crore for FY2026-27
- A total of 280 members cast votes through remote e-voting; the company had 64,601 shareholders as on the record date of September 18, 2026
*this image is generated using AI for illustrative purposes only.
Star Cement Limited shareholders passed all 12 resolutions at the company's 25th Annual General Meeting held on September 25, 2026, including the re-appointment of four key directors for a further three-year term.
The meeting was conducted through Video Conferencing and commenced at 11:30 am, concluding at 12:28 pm. Remote e-voting was open from September 21, 2026 at 9:00 am to September 24, 2026 at 5:00 pm. A total of 280 members cast votes through remote e-voting. As on the record date of September 18, 2026, the company had 64,601 shareholders. M/s MKB & Associates, Practising Company Secretaries, served as scrutinizer for the process.
Director re-appointments
Shareholders approved the re-appointment of four senior executives effective April 1, 2027 through March 31, 2030, as detailed below.
| Name | Role | Tenure start | Tenure end |
|---|---|---|---|
| Sajjan Bhajanka | Chairman & Managing Director | April 1, 2027 | March 31, 2030 |
| Prem Kumar Bhajanka | Vice Chairman & Managing Director | April 1, 2027 | March 31, 2030 |
| Sanjay Agarwal | Managing Director | April 1, 2027 | March 31, 2030 |
| Pankaj Kejriwal | Executive Director | April 1, 2027 | March 31, 2030 |
Shareholders also approved the re-appointment of Tushar Bhajanka and Keshav Bhajanka as directors retiring by rotation, with 99.32% and 99.48% of valid votes cast in favour, respectively. Additionally, a revision to the remuneration of Pankaj Kejriwal as Executive Director with effect from April 1, 2025 for the remaining period of his present term was approved, receiving 99.9995% of valid votes in favour.
Voting results summary
The following table presents the voting outcomes for all 12 resolutions.
| Item | Resolution description | Type | Votes in favour (%) | Passed |
|---|---|---|---|---|
| 1 | Adoption of audited financial statements for FY ended March 31, 2026 | Ordinary | 99.9997% | Yes |
| 2 | Confirmation of interim dividends for FY2025-26 | Ordinary | 99.9997% | Yes |
| 3 | Re-appointment of Tushar Bhajanka (retires by rotation) | Ordinary | 99.3166% | Yes |
| 4 | Re-appointment of Keshav Bhajanka (retires by rotation) | Ordinary | 99.4814% | Yes |
| 5 | Re-appointment of Prem Kumar Bhajanka as Vice Chairman & MD | Special | 99.4723% | Yes |
| 6 | Re-appointment of Sajjan Bhajanka as Chairman & MD | Special | 99.4723% | Yes |
| 7 | Re-appointment of Sanjay Agarwal as Managing Director | Special | 99.3166% | Yes |
| 8 | Revision of remuneration of Pankaj Kejriwal, Executive Director | Special | 99.9995% | Yes |
| 9 | Re-appointment of Pankaj Kejriwal as Executive Director | Special | 99.5249% | Yes |
| 10 | Ratification of Cost Auditors' remuneration for FY ending March 31, 2027 | Ordinary | 99.9997% | Yes |
| 11 | Material related party transactions with Star Smart Building Solutions Limited (formerly Star Cement (I) Limited) up to ₹1000 crore | Ordinary | 99.2865% | Yes |
| 12 | Material related party transactions with Star Cement North East Limited up to ₹3000 crore | Ordinary | 99.7712% | Yes |
Related party transactions
Shareholders approved two material related party transaction resolutions. The first authorised transactions with Star Smart Building Solutions Limited (formerly Star Cement (I) Limited) up to ₹1000 crore for FY2026-27 and up to the AGM to be held for the financial year ending March 31, 2027. The second authorised transactions with Star Cement North East Limited up to ₹3000 crore for the same period. For both resolutions, the promoter and promoter group were noted as interested parties and accordingly did not participate in the vote, resulting in a total valid vote count of 10,02,43,671 for each resolution. Invalid votes of 6,44,154 were recorded in the promoter and promoter group category for both resolutions 11 and 12.
Dividend confirmation
Shareholders confirmed the payment of two interim dividends declared during FY2025-26: an interim dividend at 100% (i.e., ₹1 per equity share of ₹1 each) declared on August 8, 2025, and a second interim dividend at 100% (i.e., ₹1 per equity share of ₹1 each) declared on February 6, 2026. The resolution received 99.9997% of valid votes in favour.
The filing was submitted to the National Stock Exchange of India Limited and BSE Limited by Debabrata Thakurta, Company Secretary, confirming the outcome of the AGM. The remote e-voting results and scrutinizer's report are available on the company's website as well as on the website of National Securities Depository Limited.
Historical Stock Returns for Star Cement
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.48% | -5.02% | -16.38% | -28.49% | -38.21% | +59.03% |
How will the ₹4,000 crore cap on related party transactions with Star Smart Building Solutions and Star Cement North East impact Star Cement's consolidated capital expenditure plans for FY2026-27?
What specific growth strategies or capacity expansions are expected to be driven by the continuity of the Bhajanka family leadership through 2030?
How might the confirmed dividend payout ratio influence institutional investor sentiment and the stock's valuation multiples in the upcoming quarter?
19
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
