Shree Cement Limited has issued a postal ballot notice to shareholders seeking approval for the re-appointment of Mr. Hari Mohan Bangur as Whole Time Director and Chairman for the next five years. The company filed the notice with stock exchanges on February 18, 2026, outlining the voting process and key timeline for shareholder participation.

Re-appointment Details

The postal ballot seeks consent for Mr. Hari Mohan Bangur's (DIN: 00244329) re-appointment as Whole Time Director, designated as Chairman, for a period of 5 years commencing from April 1, 2026. His current tenure expires on March 31, 2026. The Board of Directors approved this re-appointment on February 6, 2026, based on the recommendation of the Nomination Cum Remuneration Committee.

Voting Timeline and Process

The company has established a comprehensive timeline for the postal ballot process. The cut-off date for determining eligible voters is Friday, February 13, 2026. Only members whose names appear in the Register of Members or list of Beneficial Owners on this date will be eligible to vote.

Remuneration Structure

The proposed remuneration package for Mr. Bangur includes multiple components with structured increases over the five-year term. The basic salary is set at Rs. 2,63,60,000 per month for the first two years, increasing to Rs. 2,75,00,000 per month for the remaining three years.

Annual Remuneration Breakdown:

Additional perquisites include medical reimbursement, leave travel concession, club fees, conveyance facilities, communication expenses, insurance coverage, and provident fund contributions as per company rules.

Regulatory Compliance

The re-appointment requires special resolution approval due to Mr. Bangur's age of 73 years, as mandated under Section 196(3) of the Companies Act, 2013. The company has received necessary declarations confirming his eligibility and non-disqualification for the position.

E-voting Process

Shareholders can participate through remote e-voting only, with no physical postal ballot forms being distributed. The company has engaged MUFG Intime India Private Limited as the e-voting agency. Multiple login methods are available for different categories of shareholders, including those holding shares in NSDL, CDSL, and physical form.

Mr. Akshit Kumar Jangid and Ms. Krati Upadhyay have been appointed as Scrutinizers to ensure fair and transparent conduct of the postal ballot process. Results will be declared within two working days of the e-voting conclusion and communicated through stock exchanges and the company website.

Shree Cement Limited held its Q3FY26 earnings conference call on February 6, 2026, where senior management discussed the company's strategic focus on pricing over volumes and outlined expansion plans for its ready-mix concrete (RMC) business.

Strategic Pricing Focus Yields Results

Senior Advisor Ashok Bhandari emphasized the company's deliberate strategy of prioritizing value over volumes since October 2024. The approach has successfully narrowed the pricing gap with industry leader UltraTech from approximately ₹30 per bag to ₹15 per bag. This strategic shift required sacrificing volumes to achieve better price realization and margin improvement.

RMC Business Expansion Plans

The company is aggressively expanding its RMC operations, currently operating 19 commercial plants with plans to increase to 45 plants within 6-8 months by September 2026. The RMC segment generated ₹71 crores in revenue during Q3FY26, with 45% captive cement consumption. Management highlighted that this expansion will provide better geographical reach, logistical cost optimization, and improved capacity utilization.

Operational Performance and Cost Management

Shree Cement maintained its position as the industry's lowest-cost fuel procurer at 1.56 per kilocalorie. The company's renewable energy portfolio reached 61%, contributing to cost optimization. The power capacity breakdown includes 1,137 megawatts total capacity, with 634 megawatts from green sources including waste heat recovery (265 MW), solar (314 MW), and wind (56 MW).

Capital Expenditure and Future Plans

For FY26, the company expects to complete ₹2,000 crores in capital expenditure, having already spent ₹1,500 crores. The upcoming Kodla plant is scheduled for commissioning by March 2026, which will add waste heat recovery systems to further enhance the renewable energy portfolio. For FY27, management provided guidance of ₹500 crores capex, primarily for RMC plants (₹200 crores) and railway sidings (₹200 crores).

Market Outlook and Volume Expectations

Management expressed confidence in Q4FY26 performance, projecting 9-9.5 million tons in sales volume. The company expects industry demand growth of 7.5-8% for FY27, supported by the RBI's projected 7.4% GDP growth rate. Bhandari noted that cement typically grows at 1x to 1.1x of national GDP, providing a positive outlook for the sector.

Financial Position and Dividend Prospects

With ₹6,000 crores in free cash and zero net debt, Shree Cement maintains a strong financial position. Management indicated expectations for improved dividend payouts for FY26 compared to FY25, though specific amounts remain subject to board approval. The company's capacity is expected to reach 72 million tons by March 2026, with the long-term target of 80 million tons by FY29 subject to demand conditions.