Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

JSW Cement Limited

Meeting Details

  • Date: Friday, 31st July 2026
  • Time: Commenced at 12:00 p.m. (IST) and concluded at 1:32 p.m. (IST)
  • Location: Conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM)
  • Type: 20th Annual General Meeting

Attendance Details

  • Total shareholders on record date: 433,597
  • Members present through VC/OAVM: 69 members
  • Promoters and Promoter Group: 12 members
  • Public shareholders: 57 members
  • Directors in attendance:
  • Mr. Seshagiri Rao MVS, Chairman and Non-Executive Director (from Registered Office)
  • Mr. Parth Jindal, Managing Director
  • Mr. Nilesh Narwekar, Wholetime Director and CEO
  • Mr. Narinder Singh Kahlon, Director Finance and Commercial and CFO
  • Other directors: Mr. Aashish Kamat, Mr. Kantilal Narandas Patel, Ms. Pankaj Kulkarni, Mr. Sumit Banerjee, Mr. Akshaykumar Chudasama, Mr. Raghav Chandra, and Ms. Preeti Reddy
  • Auditors present: Representatives of Deloitte Haskins & Sells LLP (Statutory Auditor) and S. K. Jain & Co. (Secretarial Auditor)

Proposed Resolutions and Implications

The following five resolutions were proposed and approved at the AGM:

1. Ordinary Resolution: Adoption of audited Standalone Financial Statements for FY ended 31st March 2026, together with Reports of Board of Directors and Statutory Auditors

2. Ordinary Resolution: Declaration of dividend of ₹0.50 per Equity Share of face value ₹10 (5% dividend)

3. Ordinary Resolution: Appointment of Mr. Seshagiri Rao MVS (DIN: 00029136) who retires by rotation as Director

4. Ordinary Resolution: Remuneration payable to the Cost Auditors

5. Special Resolution: Payment of Commission to Non-Executive Directors

Voting Process and Methods

The voting process included:

  • Remote e-voting: Available from Tuesday, 28th July 2026 at 9:00 am (IST) to Thursday, 30th July 2026 at 5:00 pm (IST) via KFin Technologies platform
  • E-voting during AGM: Available for members attending through VC/OAVM who hadn't voted remotely
  • Scrutinizer: Ms. Meghana Mhatre, Practising Company Secretary of Meghana Mhatre & Associates
  • Voting period during meeting: 15 minutes after conclusion of meeting if not voted earlier

Key Voting Outcomes

Resolution 1: Adoption of Financial Statements

  • Total votes cast: 1,190,939,833 (87.3530% of outstanding shares)
  • Votes in favor: 1,190,938,535 (99.9999% of votes polled)
  • Votes against: 1,298 (0.0001% of votes polled)
  • Category breakdown:
  • Promoter & Promoter Group: 978,644,694 votes (100% in favor)
  • Public Institutions: 211,692,919 votes (100% in favor)
  • Public Non-Institutions: 602,220 votes (99.7845% in favor, 0.2155% against)

Resolution 2: Declaration of Dividend

  • Total votes cast: 1,190,939,876 (87.3530% of outstanding shares)
  • Votes in favor: 1,190,938,875 (99.9999% of votes polled)
  • Votes against: 1,001 (0.0001% of votes polled)
  • Category breakdown:
  • Promoter & Promoter Group: 978,644,694 votes (100% in favor)
  • Public Institutions: 211,692,919 votes (100% in favor)
  • Public Non-Institutions: 602,263 votes (99.8338% in favor, 0.1662% against)

Resolution 3: Re-appointment of Director

  • Total votes cast: 1,190,939,493 (87.3530% of outstanding shares)
  • Votes in favor: 1,108,749,445 (93.0987% of votes polled)
  • Votes against: 82,190,048 (6.9013% of votes polled)
  • Category breakdown:
  • Promoter & Promoter Group: 978,644,694 votes (100% in favor)
  • Public Institutions: 211,692,919 votes (61.1762% in favor, 38.8238% against)
  • Public Non-Institutions: 601,880 votes (99.5449% in favor, 0.4551% against)

Resolution 4: Remuneration to Cost Auditors

  • Total votes cast: 1,190,939,722 (87.3530% of outstanding shares)
  • Votes in favor: 1,190,935,340 (99.9996% of votes polled)
  • Votes against: 4,382 (0.0004% of votes polled)
  • Category breakdown:
  • Promoter & Promoter Group: 978,644,694 votes (100% in favor)
  • Public Institutions: 211,692,919 votes (100% in favor)
  • Public Non-Institutions: 602,109 votes (99.2722% in favor, 0.7278% against)

Resolution 5: Commission to Non-Executive Directors (Special Resolution)

  • Total votes cast: 1,190,939,340 (87.3529% of outstanding shares)
  • Votes in favor: 1,190,930,798 (99.9993% of votes polled)
  • Votes against: 8,542 (0.0007% of votes polled)
  • Category breakdown:
  • Promoter & Promoter Group: 978,644,694 votes (100% in favor)
  • Public Institutions: 211,692,919 votes (100% in favor)
  • Public Non-Institutions: 601,727 votes (98.5804% in favor, 1.4196% against)

Scrutinizer's Role and Findings

Ms. Meghana Mhatre was appointed as Scrutinizer for both remote e-voting and e-voting during the AGM. Her responsibilities included:

  • Ensuring fair and transparent voting process
  • Unblocking electronic votes after AGM conclusion in presence of two witnesses
  • Reconciling votes cast with company records
  • Preparing consolidated scrutinizer's report dated 31st July 2026

The scrutinizer confirmed that all resolutions received the requisite majority and were duly passed. The detailed ballot-wise results showed:

  • Resolution 1: 740 ballots in favor, 13 against
  • Resolution 2: 740 ballots in favor, 13 against
  • Resolution 3: 679 ballots in favor, 76 against
  • Resolution 4: 722 ballots in favor, 32 against
  • Resolution 5: 691 ballots in favor, 58 against

Compliance Confirmation

The meeting was conducted in compliance with:

  • Companies Act, 2013 and Rules thereunder
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Secretarial Standard on General Meetings (SS-2)
  • MCA General Circulars including latest 03/2025 dated 22nd September 2025
  • SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2025/83 dated 5th June 2025

Notice of AGM was dispatched electronically on 9th July 2026 to registered email addresses, with newspaper advertisements published in Financial Express (English) and Navshakti (Marathi) on 10th July 2026.

Additional Information

The Chairman highlighted that the company's listing on stock exchanges in FY 2025-26 was a defining milestone. Members inquired about ongoing and future projects, capital expenditure plans, CSR activities, and growth prospects during the Q&A session.