Saurashtra Cement has scheduled its 68th Annual General Meeting for September 23, 2026. Shareholders will vote on the re-appointment of Managing Director M.S. Gilotra, the adoption of FY26 financial statements, and the remuneration for key leadership. The company reported a net profit of Rs 14.42 crore for FY26 and is prioritizing cost-reduction strategies, including renewable energy integration, to counter intense industry competition.
Saurashtra Cement 68th AGM Set for September 23
Turnover: Rs 1,684.76 crore | Net Profit: Rs 14.42 crore
Reader Takeaway: Shareholders to vote on leadership terms and cost-saving measures amidst pressure from intense market competition and pricing.
What just happened
Saurashtra Cement has issued the formal notice for its 68th Annual General Meeting (AGM), which will be held on September 23, 2026, at 4:00 PM via video conferencing. The company has set the cut-off date for e-voting eligibility as September 16, 2026, with the remote e-voting window open from September 20 to September 22.
Business Agenda
The AGM will address several key corporate governance matters, including:
- Re-appointment of Mr. M. S. Gilotra as Managing Director for a one-year term starting January 1, 2027.
- Approval of a 5% commission for Chairman Mr. Jay Mehta.
- Re-appointment of Mr. Hemang Dhirendra Mehta as a director.
- Appointment of M/s. M. Goyal & Co. as cost auditors for FY2027.
- Correction of the tenure of Statutory Auditors, M/s. Manubhai & Shah LLP.
Why this matters
The meeting provides shareholders an opportunity to vote on leadership continuity and compensation structures. Management's report highlights that the fiscal year 2025-26 faced significant headwinds, specifically depressed price realizations and higher input costs due to a highly competitive, fragmented market. The company is now pivoting toward process optimization and renewable energy projects to sustain its capacity utilization, which remains above 100%.
Leadership Remuneration
The proposed re-appointment for Managing Director M. S. Gilotra includes a monthly basic salary of Rs 32.28 lakh, reflecting a 12% increase over his current salary. His total monthly CTC is outlined at Rs 71.36 lakh. The payment of the 5% commission to the Chairman is contingent upon the company's profitability.
What to track next
Shareholders should monitor the outcomes of the e-voting process, which will be finalized by September 25, 2026. The success of the company’s cost-reduction strategies will be critical in managing the impact of input price volatility in the coming quarters.