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Shree Digvijay Cement Co.Ltd (SHREDIGCEM)

₹64.73 +0.12% last close, 16 Oct

📊 NSE: SHREDIGCEM 🏢 Cement - North India 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 23 Oct 2026 (board meeting)

Shree Digvijay Cement Co.Ltd's board meets on 23 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Shree Digvijay's revenue was ₹337 Cr (+72.1% year on year, +61.8% on the previous quarter), and net profit ₹6.8 Cr (-50.5% year on year); the operating margin was 8.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹337	+72.1%	+61.8%
Operating profit	₹29.2	+22.8%	+17.3%
Net profit	₹6.8	-50.5%	-14.1%
EPS (₹)	0.46	-50.5%	-14.8%
Operating margin	8.7%	—	—

Full quarterly financials → Results calendar →

SHREDIGCEM delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 54.68% of the SHREDIGCEM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 54.97%. That is close to its usual level. Turnover was only ₹19 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.

54.68%Delivery, 16 Oct

54.97%Own 20-session average

0.4×Volume vs its average

₹64.73NSE close · +0.12%

Delivery in the last 5 sessions: 48.6% · 69.0% · 50.4% · 56.6% · 54.7%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Shree Digvijay Cement Submits Reg 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 12:21 PM

Shree Digvijay Cement Co. Ltd has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Private Limited, the company's Registrar and Share Transfer Agent. It confirms that securities received for dematerialisation during the quarter were duly processed, listed on stock exchanges, and mutilated/cancelled within prescribed timelines. This is a standard administrative filing with no financial or operational impact.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
Pertains to the quarter ended September 30, 2026
Issued by RTA MUFG Intime India Private Limited on October 6, 2026

💡 Track the upcoming Q2 FY27 earnings announcement and operational volume metrics; no action required on this regulatory filing.

Shree Digvijay Cement Shareholders Approve All 81st AGM Resolutions with >99.9% Majority

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Sep 2026, 08:06 PM

Shree Digvijay Cement Co. Ltd announced the voting results and Scrutinizer's report for its 81st Annual General Meeting held on September 16, 2026. Shareholders approved all 5 resolutions, including the adoption of FY26 financial statements, dividend declaration, reappointment of Director Mr. Anil Singhvi, and the appointment of Mr. Amit Arora as Managing Director. Overall, 94.88 million votes were cast (representing ~64.15% of total outstanding shares), with over 99.99% voting in favour across all resolutions. Institutional voter turnout was minimal at 0.0746%, while promoter voting was 100% of their holding.

Total of 94,885,946 votes polled out of 147,914,278 outstanding shares (64.15% turnout)
Appointment of Mr. Amit Arora as Managing Director passed with 99.9966% votes in favour (3,247 against)
Declaration of FY26 dividend approved with 99.9994% votes in favour
Promoter group polled 100% of their 94,233,213 shares in favour of all resolutions

💡 Track the upcoming Q2 FY27 operational performance and commentary under newly ratified Managing Director Amit Arora, particularly progress on the planned grinding capacity expansion to 3.0 MTPA.

Shree Digvijay Cement Shareholders Approve Dividend and Appoint Amit Arora as MD at 81st AGM

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 16 Sep 2026, 07:14 PM

Shree Digvijay Cement Co. Ltd has submitted voting results for its 81st Annual General Meeting held on September 16, 2026. Shareholders approved all 5 resolutions with over 99.99% votes in favor, representing 64.15% total voter turnout (9,48,85,946 votes polled). Key approvals include the declaration of dividend for FY26 and the appointment of Mr. Amit Arora as Managing Director under a special resolution. The promoter group voted 100% of its 9,42,33,213 shares in favor across all items.

Total voter turnout stood at 64.1493% with 9,48,85,946 shares polled out of 14,79,14,278 total shares
Special resolution for the appointment of Mr. Amit Arora as Managing Director approved with 99.9966% favorable votes
Declaration of equity dividend for FY26 approved with 99.9994% votes in favor (9,48,85,349 votes)
Re-appointment of retiring director Mr. Anil Singhvi passed with 99.9966% favorable votes
Promoter group cast 9,42,33,213 votes (100% of their holding) in favor of all five resolutions

💡 Track subsequent filings for details on the dividend payout date and monitor strategic execution under new MD Amit Arora, particularly the ongoing capacity expansion to 3.0 MTPA.

Shree Digvijay Cement Shareholders Approve Amit Arora as CEO & MD for 5-Year Term

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 16 Sep 2026, 06:32 PM

At the 81st Annual General Meeting held on September 16, 2026, shareholders of Shree Digvijay Cement Co. Ltd approved the appointment of Mr. Amit Arora as Chief Executive Officer (CEO) and Managing Director. The appointment is approved for a period of 5 years effective from June 17, 2026. Mr. Arora brings over two decades of cement industry leadership experience, including past roles as Plant Head at ACC Limited and Kalaburgi Cement (Vicat Group).

Shareholders approved the appointment of Mr. Amit Arora as CEO & MD at the 81st AGM on September 16, 2026
Appointment tenure confirmed for a period of 5 years effective retrospectively from June 17, 2026
Mr. Arora has over 20 years of cement industry experience with prior leadership at ACC Limited and Vicat Group

💡 Monitor upcoming quarterly results and strategic execution regarding the company's planned capacity expansion from 1.5 MTPA to 3.0 MTPA under new operational leadership.

Shree Digvijay Cement Schedules 81st AGM on Sept 16, 2026; Issues FY26 Annual Report Weblink

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Aug 2026, 10:16 PM

Shree Digvijay Cement Company Limited has dispatched communication containing the web link to its FY 2025-26 Annual Report and Notice for its 81st Annual General Meeting (AGM) to unregistered shareholders. The 81st AGM is scheduled to take place on Wednesday, September 16, 2026, at 11:00 AM IST via Video Conferencing/OAVM. The intimation also reminds physical shareholders to update mandatory KYC and bank details as per SEBI circulars to ensure regular dividend payments.

81st Annual General Meeting scheduled for Wednesday, September 16, 2026, at 11:00 AM IST via VC/OAVM
Dispatched web link for accessing the FY 2025-26 Annual Report and AGM Notice pursuant to Regulation 36(1)(b)
Reminded physical shareholders to complete mandatory KYC details (PAN, address, mobile, bank details) as mandated by SEBI

💡 Shareholders should note the AGM date of September 16, 2026, and physical security holders must ensure KYC updates are submitted to the RTA to avoid dividend payout delays.

Shree Digvijay Cement Submits FY 2025-26 Business Responsibility & Sustainability Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Aug 2026, 11:56 PM

Shree Digvijay Cement has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 as part of its 81st Annual Report. The disclosure highlights that core cement manufacturing accounted for 99.12% of total revenue, operating via 1 integrated plant and 8 marketing offices across 14 states. The company reported turnover for CSR calculation at ₹75,315 Lakhs and net worth at ₹36,545 Lakhs. All 4 shareholder grievances received during the year were resolved with zero complaints pending.

Cement manufacturing accounted for 99.12% of turnover, while exports represented 0.20%
Total workforce stood at 219 employees (207 permanent) and 494 workers (14 permanent, 480 contractual)
Reported FY26 turnover of ₹75,315 Lakhs and net worth of ₹36,545 Lakhs under CSR applicability metrics
Resolved 100% of the 4 shareholder complaints received in FY26, with 0 pending complaints and 0 data breaches

💡 Track the execution and commissioning timeline of the planned grinding capacity doubling from 1.5 MTPA to 3.0 MTPA, alongside upcoming quarterly operational performance.

Shree Digvijay Cement to Convene 81st AGM on Sept 16, 2026; E-Voting Cut-Off Sept 9

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Aug 2026, 07:46 PM

Shree Digvijay Cement has released its 81st Annual Report for FY2025-26 and scheduled its Annual General Meeting (AGM) for September 16, 2026, via Video Conferencing. The record/cut-off date to determine eligibility for electronic voting is set for September 9, 2026. Remote e-voting will run from September 12, 2026 (9:00 AM IST) to September 15, 2026 (5:00 PM IST). This is a routine administrative compliance filing under SEBI Listing Regulations.

81st Annual General Meeting scheduled for Wednesday, September 16, 2026 at 11:00 AM IST via VC/OAVM
Record/cut-off date for e-voting eligibility set as Wednesday, September 9, 2026
Remote e-voting window open from September 12, 2026 (9:00 AM IST) to September 15, 2026 (5:00 PM IST)
Published Annual Report for FY 2025-26 pursuant to SEBI Regulation 34(1)

💡 Eligible shareholders wishing to vote on AGM resolutions should ensure shareholding is settled by September 9, 2026, and participate during the September 12-15 voting period.

Sept 9 Fixed as Record Date for FY26 Dividend; 81st AGM on Sept 16

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 24 Jul 2026, 06:33 PM

Shree Digvijay Cement has scheduled its 81st Annual General Meeting (AGM) for September 16, 2026. The company has fixed September 9, 2026, as the record date to determine shareholder eligibility for the FY2025-26 dividend. Payments for the approved dividend are slated to be completed by October 5, 2026. This administrative update follows a year where TTM revenue stood at ₹749 Cr, while net profit moderated to ₹25 Cr from ₹87.8 Cr in FY24.

81st Annual General Meeting scheduled for September 16, 2026, at 11:00 A.M. via video conferencing.
Record date for FY2025-26 dividend entitlement set for September 9, 2026.
Dividend payment deadline established as October 5, 2026, subject to shareholder approval.
Company is currently undergoing a capacity expansion from 1.5 MTPA to 3.0 MTPA.
Promoter holding recently increased to 59.2% following the India Resurgence Fund (IRF) acquisition.

💡 Investors should monitor the upcoming AGM for management commentary on the operational status of the 3.0 MTPA brownfield expansion and the integration with Hi-Bond Cement.

Sep 9, 2026 set as Record Date for FY26 Dividend; AGM on Sep 16

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 24 Jul 2026, 06:18 PM

Shree Digvijay Cement has announced September 9, 2026, as the record date for determining shareholder eligibility for the FY 2025-26 dividend. The 81st Annual General Meeting (AGM) is scheduled for September 16, 2026, where the dividend will be formally approved. Eligible shareholders can expect payment by October 5, 2026. This follows a fiscal year where the company reported a TTM PAT of Rs 25 Cr and a TTM revenue of Rs 749 Cr.

Record date for dividend eligibility fixed as September 9, 2026
81st Annual General Meeting scheduled for September 16, 2026
Dividend payment to be completed by October 5, 2026
Company reported TTM PAT of Rs 25 Cr against a market cap of Rs 1126 Cr

💡 Investors should monitor the ex-dividend date (typically one working day prior to the record date) and track the progress of the 3.0 MTPA capacity expansion mentioned in previous filings.

72% Revenue Growth in Q1 FY27 Driven by Hi-Bond Volumes; PAT Drops 50% on Margin Pressure

🔵 WATCH ⭐ 7/10

EARNINGS 📅 24 Jul 2026, 05:45 PM

Shree Digvijay Cement reported a sharp 72% YoY increase in revenue to ₹337.27 cr for Q1 FY27, primarily fueled by the Hi-Bond distribution agreement which contributed 2.49 lac tons to the total 6.06 lac tons volume. However, Profit After Tax (PAT) fell by 50.4% YoY to ₹6.83 cr as EBITDA per ton compressed from ₹701 to ₹500. The scale-up is significant, with quarterly revenue now representing ~45% of the previous TTM revenue of ₹749 cr. Higher input and logistics costs, attributed to geopolitical uncertainties, weighed heavily on the bottom line despite the volume surge.

Sales volume jumped 68.8% YoY to 6.06 lac tons from 3.59 lac tons.
Revenue from operations increased 72% YoY to ₹337.27 cr compared to ₹195.95 cr in Jun-25.
EBITDA per ton declined 28.6% to ₹500 from ₹701 in the year-ago period.
Profit After Tax (PAT) decreased 50.4% YoY to ₹6.83 cr from ₹13.79 cr.
Hi-Bond agreement volumes reached 2.49 lac tons, a significant jump from 0.29 lac tons in Mar-26.

💡 Monitor if the company can improve realizations or reduce costs to restore EBITDA per ton, as the current volume-led growth is coming at the expense of margins. Watch for the operational integration of the 3.0 MTPA capacity expansion scheduled for completion.

Q1 Revenue jumps 72% to ₹337 Cr on Hi-Bond volumes; PAT drops 50% to ₹6.83 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 24 Jul 2026, 05:36 PM

Shree Digvijay Cement reported a sharp 72% YoY revenue increase to ₹337.27 Cr for Q1 FY27, driven by a 69% surge in sales volumes to 6.06 lakh tons. This growth was primarily inorganic, fueled by the Hi-Bond Cement distribution agreement which contributed 2.49 lakh tons. However, Profit After Tax (PAT) fell 50% YoY to ₹6.83 Cr as the company faced a massive spike in sub-contracting costs (₹120.92 Cr) and finance costs (₹11.63 Cr). EBITDA per ton compressed significantly to ₹500 from ₹701 in the previous year, reflecting lower realizations and higher input costs.

Sales volume increased 69% YoY to 6.06 lakh tons, with 2.49 lakh tons sourced from the Hi-Bond plant.
Revenue from operations reached ₹337.27 Cr, representing approximately 45% of the total TTM revenue in a single quarter.
EBITDA per ton declined by 28.7% YoY to ₹500 from ₹701 in Q1 FY26.
Finance costs surged to ₹11.63 Cr from just ₹0.58 Cr in the year-ago quarter, indicating increased leverage.
Sub-contracting costs for purchased cement stood at ₹120.92 Cr, a new major expense line following the Hi-Bond agreement.

💡 Investors should monitor the company's ability to recover EBITDA margins per ton, which have fallen significantly below historical averages. The key monitorable is whether the high-volume strategy through Hi-Bond can eventually deliver bottom-line growth as operational efficiencies kick in.

Shree Digvijay Cement: Compliance Certificate for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jul 2026, 01:00 PM

Shree Digvijay Cement has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and cancelled as per regulations. This is a standard administrative filing confirming the integrity of the company's share registry and has no impact on financial performance.

Compliance certificate issued for the quarter ended June 30, 2026
Registrar MUFG Intime India Private Limited confirmed processing of dematerialization requests
Security certificates were mutilated and cancelled after due verification within prescribed timelines
Confirmation that the name of depositories has been substituted in the register of members

💡 This is a routine procedural filing. Investors should monitor the company's progress on its brownfield expansion to 3.0 MTPA, which is scheduled for completion by Q4 FY2025.

45,000 Shares Allotted Under ESOP Plan 2019 at Rs 16 Per Share

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Jul 2026, 06:05 PM

Shree Digvijay Cement has allotted 45,000 equity shares to employees following the exercise of stock options under its 2019 ESOP plan. The shares were issued at an exercise price of Rs 16 per share, representing a significant discount to the current market price of Rs 77. This allotment increases the total paid-up share capital to Rs 147.91 Cr. The dilution is negligible at approximately 0.03% of the total equity base.

Allotment of 45,000 equity shares of face value Rs 10 each on June 30, 2026
Exercise price of Rs 16 per share, including a premium of Rs 6 per share
Total paid-up equity shares increased from 14,78,69,278 to 14,79,14,278
The allotment represents a minor dilution of approximately 0.03% of the total share capital

💡 Investors should focus on the company's ongoing capacity expansion from 1.5 MTPA to 3.0 MTPA and the impact of the India Resurgence Fund (IRF) acquisition, as these are more material drivers than routine ESOP allotments.

Shree Digvijay Cement Updates KMP Contact Details for Materiality Disclosures

🟡 NEUTRAL ⭐ 2/10

MANAGEMENT 📅 25 Jun 2026, 12:23 PM

Shree Digvijay Cement Co. Ltd has updated its list of Key Managerial Personnel (KMP) authorized to determine the materiality of events and information under SEBI Regulation 30(5). The authorized officials include Mr. Amit Arora (CEO & MD), Mr. Vikas Kumar (CFO), and Mr. Suresh Meher (Company Secretary). This update ensures clear communication channels between the company and stock exchanges for regulatory compliance. The announcement is a standard procedural disclosure and does not impact the company's financial operations.

Updated contact details for KMPs authorized under SEBI Regulation 30(5) for materiality determination.
Mr. Amit Arora, CEO & MD, is designated for determining materiality and making disclosures.
Mr. Vikas Kumar (CFO) and Mr. Suresh Meher (CS) are also authorized for disclosure purposes.
The filing ensures compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 No immediate action is required as this is a routine administrative update. Investors should note the updated contact points for official company disclosures.

SHREDIGCEM to Close Trading Window from July 1, 2026, for Q1 Financial Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jun 2026, 12:19 PM

Shree Digvijay Cement Co. Ltd has announced the closure of its trading window effective from July 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming announcement of Q1 financial results for the period ending June 30, 2026. The window will remain closed until 48 hours after the declaration of the unaudited standalone and consolidated financial results. This is a standard regulatory procedure for listed companies to prevent insider trading ahead of earnings releases.

Trading window closure starts from Wednesday, July 1, 2026.
Closure is related to the financial results for the quarter ending June 30, 2026.
The window will reopen 48 hours after the declaration of standalone and consolidated results.
The restriction applies to all designated persons and their immediate relatives as per the Company's Code of Conduct.

💡 No immediate action is required as this is a routine regulatory filing. Investors should look out for the specific date of the Q1 earnings call to assess the company's financial performance.

View All SHREDIGCEM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: Manufacturing and Sales of Cement. Revenue from operations decreased by 8.6% YoY, falling from INR 793.34 Cr in FY2024 to INR 725.19 Cr in FY2025 due to subdued realizations and lower demand.

Geographic Revenue Split

100% of revenue is derived from the Indian market, specifically concentrated in Western India with its primary production facility located in Digvijaygram, Gujarat.

Profitability Margins

Profitability saw a significant decline in FY2025; Net Profit Margin dropped from 11.07% in FY2024 to 3.47% in FY2025. Operating margins for 9M FY2025 weakened to 5.80% from 18.69% in the previous fiscal due to a steep decline in realizations and a INR 17 Cr annual shutdown cost in Q3 FY2025.

EBITDA Margin

EBITDA margin contracted by 1,022 basis points, falling from 19.34% (INR 154.94 Cr) in FY2024 to 9.12% (INR 67.06 Cr) in FY2025, reflecting intense cost pressures and lower sales realizations.

Capital Expenditure

The company is executing a brownfield capex of INR 250.0 Cr to double its cement grinding capacity from 1.5 MTPA to 3.0 MTPA, with commissioning expected in Q4 FY2025.

Credit Rating & Borrowing

Crisil reaffirmed the long-term rating at 'Crisil A' but revised the outlook to 'Negative'. Short-term rating is 'Crisil A1'. The company secured term debt of INR 125.0 Cr for capex, with gross debt rising to INR 109.85 Cr in FY2025 from zero in FY2024.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Clinker, Gypsum, and Fly Ash. Total expenditure on operations was INR 667.93 Cr in FY2025, representing approximately 92% of total revenue.

Import Sources

Primary sourcing is domestic, centered around the manufacturing hub in Gujarat, India, to optimize logistics for the Jamnagar facility.

Key Suppliers

The company entered into an exclusive 10-year usage, supply, and distributorship agreement with Hi-Bond Cement (India) Pvt Ltd (HIBOND) starting in 2025.

Capacity Expansion

Current installed capacity is 1.5 MTPA; expanding to 3.0 MTPA through a brownfield project at the Digvijaygram facility, scheduled for completion by Q4 FY2025.

Raw Material Costs

Raw material and operating costs as a percentage of revenue increased significantly as total expenditure rose to INR 667.93 Cr against a revenue of INR 725.19 Cr, driven by volatility in input prices and the inability to pass costs to consumers.

Manufacturing Efficiency

Capacity utilization is a key monitorable; clinker production was 10.05 Lakh MT and cement production was 13.87 Lakh MT in FY2025.

Logistics & Distribution

Logistics operations are managed to enhance market reach; the company utilizes its coastal location in Jamnagar for efficient distribution in Western India.

📈 Strategic Growth

Expected Growth Rate

100%

Growth Strategy

Growth will be achieved by doubling grinding capacity to 3.0 MTPA, an exclusive 10-year distribution agreement with Hi-Bond Cement, and a strategic ownership shift as India Resurgence Fund (IRF) acquires a 50.10% stake to provide capital and strategic oversight.

Products & Services

The company sells cement bags (primarily Portland Pozzolana Cement) and Clinker to construction and infrastructure customers.

Brand Portfolio

Shree Digvijay Cement, Kamal Cement, and Hi-Bond (via exclusive distribution agreement).

New Products/Services

Launch of innovative and superior quality niche products is planned to enhance market reach, though specific revenue contribution percentages for new launches are not yet disclosed.

Market Expansion

Expansion is focused on deepening the distribution network in Western India and leveraging the Hi-Bond brand for broader market penetration starting FY2026.

Market Share & Ranking

The company maintains an established market position in Western India with a 1.5 MTPA capacity, set to grow to 3.0 MTPA.

Strategic Alliances

Exclusive 10-year usage and supply agreement with Hi-Bond Cement (India) Pvt Ltd, including an option to acquire 100% equity of HIBOND.

🌍 External Factors

Industry Trends

The industry is moving toward consolidation and sustainability; SDCCL is positioning itself by doubling capacity and targeting 65% green power to counter the 8.6% revenue decline seen in the current sluggish market.

Competitive Landscape

Faces intense competition from large pan-India players and regional manufacturers in the Gujarat and Western India markets.

Competitive Moat

Moat is based on its coastal location in Jamnagar providing logistics advantages and a long-standing brand presence since 1944; sustainability is reinforced by the IRF acquisition and Hi-Bond alliance.

Macro Economic Sensitivity

Highly sensitive to infrastructure spending and GDP growth; cyclical downturns in the cement industry result in slow offtake and constrained operating rates.

Consumer Behavior

Shift toward branded, high-quality cement for individual home builders and infrastructure projects.

Geopolitical Risks

Global demand-supply conditions and fluctuations in international fuel prices (coal/petcoke) impact the cost of production.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to evolving environmental norms and pollution control standards; the company maintains an adequate system of internal controls tested for compliance with the 2013 Act.

Environmental Compliance

The company follows 'Clean and Green is Profitable' philosophy, subscribing to voluntary emissions reduction programs and investing in Waste Heat Recovery Systems.

Taxation Policy Impact

Tax expenses for FY2025 were INR 9.34 Cr, representing an effective tax rate of approximately 27% on Profit Before Tax of INR 34.54 Cr.

Legal Contingencies

The Regional Director partially allowed an appeal, dropping a penalty under Section 90(4A), but upheld penalties of INR 2,00,000 each on several individuals (including Ermirio Pereira de Moraes and others) for failure to submit BEN-1 forms under Section 90(10).