Shri Keshav Cement & Infra held its 32nd Annual General Meeting (AGM) on September 30, where shareholders approved several significant resolutions, including key board appointments and strategic initiatives to strengthen the company's governance and expand its business scope.

Board Appointments

Shareholders approved the reappointment of Mr. K.C. Patil as a Non-Executive Independent Director for a five-year term from November 13 to November 12. Mr. Patil, who holds an M.A. from Karnataka University and an L.L.B. from B.V. Bellad College, brings valuable experience in banking and finance to the board.

Additionally, the appointment of Mrs. Savita Metrani as a Non-Executive Independent Director was regularized for a five-year term from August 30 to August 29. Mrs. Metrani, with a B.Com from Swami Vivekanand College Mumbai and an L.L.B. from R.L. Law College Belagavi, contributes expertise in Corporate Law, Taxation, and Accounts to the company.

Executive Remuneration Approvals

The shareholders approved remuneration packages for key executives that exceed the limits prescribed by regulatory guidelines:

• Mr. Vilas Katwa, Managing Director
• Mr. Venkatesh Katwa, Executive Director
• Mr. Deepak Katwa, Executive Director

These approvals ensure compliance with Section 197 of the Companies Act, 2013, and Regulation 17(6)(e) of SEBI (LODR) Regulations, 2015.

Strategic Initiatives

In a move to expand its business scope, shareholders approved the alteration of the object clause in the company's Memorandum of Association. This strategic decision allows Shri Keshav Cement & Infra to diversify its operations and explore new business opportunities.

Other Key Resolutions

• The company appointed M/s. Akshay Jadhav & Associates as the Secretarial Auditor for a period of five financial years.
• Shareholders ratified the remuneration of Cost Auditors for the financial year ending March 31.

Financial Statements

The AGM also saw the adoption of the audited financial statements for the year ended March 31, along with the reports of the Directors and Auditors.

The meeting, which began at 10:00 AM, concluded at 11:15 AM with a vote of thanks to the chair. These approvals and strategic decisions position Shri Keshav Cement & Infra for potential growth and improved governance in the coming years.

Shri Keshav Cement & Infra , a prominent player in the cement and solar power sectors, has reported robust financial results for the first quarter, showcasing significant growth across key metrics.

Financial Highlights

The company's total income for Q1 stood at INR 41.40 crores, marking a substantial year-over-year growth of 32.53%. This impressive top-line performance was accompanied by a remarkable 74% surge in Profit After Tax (PAT), which reached INR 3.09 crores. The company's EBITDA also saw a notable increase, rising to INR 10.41 crores with a healthy margin of 25.50%.

Operational Performance

Shri Keshav Cement & Infra witnessed a significant volume growth of 42% year-over-year, substantially outpacing the overall growth of 9% in South India. This exceptional performance can be attributed to the company's recent capacity expansion and aggressive sales strategies.

Capacity Expansion

In March, the company commissioned a new kiln, effectively increasing its cement production capacity from 0.36 million tons to 1 million tons. This strategic expansion has positioned Shri Keshav Cement & Infra to capitalize on the growing demand in its core markets.

Solar Power Segment

The company's 40 MW solar power capacity continues to be a significant contributor to its financial performance, adding INR 7.80 crores to the overall EBITDA. This renewable energy segment not only provides a stable revenue stream but also aligns with the company's commitment to sustainable operations.

Future Outlook

Management has provided an optimistic guidance, projecting an EBITDA of INR 55-60 crores with margins between 25-30%. The company is targeting a 45% capacity utilization, indicating room for further growth.

Debt Repayment Plans

Shri Keshav Cement & Infra has outlined plans to repay INR 25.80 crores of debt and expects to close three term loans, reflecting a strong focus on improving its financial position.

Market Expansion and Strategy

The company is actively expanding its market presence, particularly in institutional sales. It has begun supplying cement to government infrastructure projects, which is expected to contribute to higher volumes and improved realizations.

Challenges and Opportunities

While the company faces some challenges in terms of fuel and power consumption efficiency, management expressed confidence in addressing these issues as the new plant stabilizes. The potential for expanding into ready-mix concrete (RMC) and further solar capacity additions are being explored as future growth avenues.

Venkatesh Katwa, Chairman of Shri Keshav Cement & Infra, commented on the results, stating, "We are very pleased to start the year on a positive note. This strong performance reflects the benefits of our capacity expansion, a better product mix, and disciplined cost control."

As Shri Keshav Cement & Infra continues to ramp up its operations and explore new market opportunities, the company appears well-positioned to capitalize on the growing demand in the infrastructure and real estate sectors in its core markets.