Sagar Cements Files SEBI Disclosure for ₹50 Cr NCD Share Pledge by Promoters

Sagar Cements Limited has filed an official disclosure with stock exchanges regarding the pledge of shares by its promoters as security for ₹50.00 crore worth of secured unrated unlisted redeemable non-convertible debentures (NCDs) issued by RV Consulting Services Private Limited. The disclosure was made under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Filing Details

The company submitted the disclosure to both National Stock Exchange of India Limited and BSE Limited on December 16, 2025, confirming that promoters Mr. Sreekanth Reddy Sammidi and RV Consulting Services Private Limited have pledged shares as security for debt availed by the promoter group company. Additionally, subsidiary Andhra Cements Limited filed a separate disclosure on December 17, 2025, acknowledging the control restrictions arising from the debenture arrangement.

Parameter:	Details
Filing Date:	December 16, 2025
Subsidiary Filing Date:	December 17, 2025
Debenture Amount:	₹50.00 crores
Trust Deed Date:	December 9, 2025
Debenture Trustee:	Catalyst Trusteeship Limited
Security Cover:	1x (one time) cover requirement

Promoter Encumbrance Structure

The disclosure reveals that both key promoter entities have extended their existing encumbrance arrangements rather than pledging additional shares. The arrangement maintains substantial security coverage for the debenture obligations.

RV Consulting Services Private Limited Holdings

Metric:	Details
Total Shareholding:	120,781,259 shares (59.24%)
Post-Event Encumbered Shares:	120,460,009 shares (59.22%)
Security Value:	₹105.00 crores
Additional Shares Pledged:	No additional shares

Mr. Sreekanth Reddy Sammidi Holdings

Metric:	Details
Total Shareholding:	66,268,153 shares (35.60%)
Post-Event Encumbered Shares:	66,430,465 shares (35.08%)
Security Value:	₹105.00 crores
Additional Shares Pledged:	No additional shares

Control Restrictions and Compliance Framework

The debenture trust deed dated December 9, 2025 includes specific restrictions requiring that there be no change of control of Sagar Cements Limited without consent of the debenture trustee. Any such change without trustee consent would trigger an event of default under the debenture trust deed. Additionally, Mrs. Aruna Sammidi has confirmed compliance with these control restrictions as part of the promoter group.

Key Compliance Metrics

Parameter:	Details
Total Promoter Shareholding:	63,168,186 shares (48.33%)
Encumbered Shares Percentage:	80.80% of total promoter shareholding
Transfer Restrictions:	Prior approval required above 5% threshold
Regulatory Framework:	SEBI (SAST) Regulations, 2011

Historical Encumbrance Timeline

The current pledge represents part of an extensive series of encumbrance events spanning multiple transactions. Both promoter entities have established comprehensive existing encumbrance arrangements with various financial institutions.

Event:	Date	Details
Encumbrance 1:	November 1, 2023	Initial pledge with Bajaj Finance Limited
Encumbrance 2:	January 29, 2024	Extension to AVH Resources India Private Limited
Encumbrance 3:	December 31, 2024	Additional NCDs worth ₹170.00 crores
Encumbrance 4:	January 28, 2025	Further debt arrangements
Current Encumbrance:	December 9, 2025	Extension for ₹50.00 crore NCDs

The borrowed amount is designated for personal use by promoters and persons acting in concert, specifically RV Consulting Services Private Limited and Mr. Sreekanth Reddy Sammidi as members of the promoter group. The arrangement ensures institutional oversight through existing agreements with PI Opportunities Fund-I Scheme II and AVH Resources India Private Limited, requiring prior approval for share transfers above 5% of respective total holdings.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.70%	-2.24%	-4.87%	-4.42%	-6.49%	+61.29%

Sagar Cements , a prominent player in the Indian cement industry, has recently announced its sales volume projections for the upcoming fiscal years, signaling a robust growth trajectory for the company.

Sales Volume Targets

The company has set forth ambitious goals for its sales volumes in the coming years:

Fiscal Year	Sales Volume Target (Million Tons)
FY26	6.00
FY27	7.00

Sagar Cements has expressed confidence in achieving these targets, with the potential for further increases in the future. This progressive scaling of sales volumes indicates the company's optimistic outlook on market demand and its production capabilities.

EBITDA Guidance

In addition to the sales volume targets, Sagar Cements has also provided its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) guidance for FY26:

Fiscal Year	EBITDA Guidance (Rs. per ton)
FY26	600.00

The EBITDA guidance of Rs. 600.00 per ton for FY26 offers insights into the company's expected operational efficiency and profitability.

Implications for Investors

These announcements provide valuable information for investors and market analysts:

Growth Trajectory: The incremental increase in sales volume targets from 6.00 million tons in FY26 to 7.00 million tons in FY27 suggests a steady growth plan.
Operational Efficiency: The EBITDA guidance indicates the company's expectations regarding its operational performance and cost management.
Market Confidence: The company's willingness to provide forward-looking guidance may be interpreted as a sign of confidence in its market position and future prospects.

As Sagar Cements moves forward with these targets, investors and industry observers will likely keep a close watch on the company's performance and its ability to meet these projections in the dynamic cement market landscape.