Saurashtra Cement Limited (SCL), a prominent player in the Indian cement industry, has announced a significant change in its top management. The company has appointed Mr. Prakash Chand Jain as its new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective September 5, 2025.

Board Approval and Transition

The appointment of Mr. Jain comes following the approval of SCL's Board of Directors, based on recommendations from the Nomination and Remuneration Committee and the Audit and Compliance Committee. This decision was made during a board meeting held on September 4, 2025.

Outgoing Interim CFO

Mr. Rakesh Mehta, who had been serving as the interim CFO and KMP, will step down from his role at the close of business hours on September 4, 2025. Mr. Mehta's tenure as interim CFO bridged the gap until the appointment of a permanent CFO.

Regulatory Compliance

In adherence to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, Saurashtra Cement Limited promptly informed the stock exchanges about this significant change in key management personnel. The company's disclosure aligns with the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 (updated as of December 31, 2024).

Company Overview

Saurashtra Cement Limited, with its registered office and works near Railway Station, Ranavav 360 550, Gujarat, India, is a well-established entity in the cement sector.

This management change comes as SCL continues to navigate the dynamic cement industry landscape. The appointment of Mr. Prakash Chand Jain as CFO marks a significant step in the company's financial leadership.

Saurashtra Cement Limited , a key player in the Indian cement industry, has announced significant changes in its leadership team alongside impressive financial results for the first quarter of the fiscal year.

Management Shake-up

The company disclosed that its Chief Financial Officer (CFO), Pradeep Mehta, has tendered his resignation due to personal reasons. Mehta's last day at the company will be July 25, 2025, marking the end of his tenure at Saurashtra Cement. To ensure a smooth transition, the Board of Directors has approved the appointment of Rakesh H. Mehta as the interim CFO, effective July 26, 2025.

Rakesh H. Mehta will serve as CFO and Key Managerial Personnel until a permanent CFO is appointed. He is a mechanical engineer with a master's degree in financial management and brings over four decades of experience in finance, corporate planning, strategy evaluation, and projects across manufacturing and service sectors. Notably, he previously served as the CFO of Saurashtra Cement from October 2014 to March 2023 and has been working as a Finance Consultant for the company.

Q1 Financial Performance

Alongside the management changes, Saurashtra Cement reported robust financial results for the quarter ended June 30, 2025:

The company's revenue from operations saw a healthy increase of 9.79% year-over-year, rising from ₹38,579.56 lakhs in Q1 2024 to ₹42,356.59 lakhs in Q1 2025. More impressively, the net profit surged by 71.38%, reaching ₹1,679.14 lakhs compared to ₹979.76 lakhs in the same quarter last year.

Segment Performance

Saurashtra Cement operates in two reportable segments:

1. Cement & Clinker: This segment contributed ₹40,339.47 lakhs to the revenue, showing strong performance.
2. Paints: The paints segment generated ₹2,017.12 lakhs in revenue but reported a loss of ₹417.87 lakhs after depreciation but before finance cost.

Operational Update

The company also announced a planned shutdown of its kiln at the Ranavav Plant, Gujarat, for annual maintenance starting July 25, 2025, for about 20 days. However, cement dispatches will continue, and the company's Sidheegram plant in Gujarat remains operational.

These developments, including the leadership transition and strong financial performance, underscore Saurashtra Cement's resilience and strategic focus in the competitive cement industry.