Saurashtra Cement Limited has announced a significant change in its leadership structure. The company's Board of Directors has approved the transition of Jay Mahendra Mehta from his current role as Executive Chairman to Non-Executive Chairman, effective September 26, 2025.

Leadership Transition

Jay Mahendra Mehta, a long-standing figure in Saurashtra Cement's leadership, requested this change to focus on personal and professional commitments outside India. While stepping back from his executive responsibilities, Mehta will continue to serve as the Chairman of the Board in a non-executive capacity.

Compensation Change

As part of this transition, Mehta will cease to draw a fixed salary from his position. This move aligns with his shift to a non-executive role, reflecting a change in his day-to-day involvement with the company's operations.

Mehta's Background and Tenure

Jay Mahendra Mehta brings a wealth of experience and education to his role. He holds degrees from prestigious institutions including Columbia University and IMD Lausanne. Mehta's association with Saurashtra Cement's Board dates back to 1987, marking over three decades of involvement with the company. His most recent appointment as Executive Chairman occurred in August 2024.

Board's Acknowledgment

The Board of Directors expressed their appreciation for Mehta's valuable guidance and leadership during his tenure as Executive Chairman. They look forward to his continued strategic support in his new non-executive capacity, recognizing the importance of his experience and insights for the company's future direction.

Looking Ahead

This transition in leadership structure comes at a time when Saurashtra Cement Limited is navigating the evolving cement industry landscape. Mehta's continued presence on the Board, albeit in a non-executive role, is expected to provide stability and strategic continuity for the company.

The change in Mehta's role represents a significant shift in Saurashtra Cement's top management and governance structure. As the company moves forward, stakeholders will be keen to observe how this transition impacts the company's strategic decisions and overall performance in the competitive cement sector.

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.