Annual Report for the Financial Year 2024-25
Awaiting price reaction for this filing.
Bheema Cements Limited has submitted its 46th Annual Report for FY 2024-25 to BSE and called its 46th AGM for Monday, 27th April 2026 at 2:30 PM via video conferencing. The company is still in the stabilization phase after completing the Corporate Insolvency Resolution Process (CIRP) and reported no revenue from operations for the year. The AGM notice seeks approval for adoption of financial statements, re-appointment of Mr. Raja Kishore Tadimalla as director, and material related party transactions for FY 2025-26. The proposed RPTs include up to INR 200 crore per annum with group entities (Fortuna Engi Tech, Fortuna Cements, Bheema Infratech, VNR Infrastructures) and up to INR 300 crore per annum as interest-free unsecured loans from promoter-directors for NCLT-mandated creditor repayments and plant recommencement, with a right to convert these loans into equity. Management says it is evaluating technical and financial viability to restart the cement plant but has not given a timeline.
With no operations or revenue, the stock remains a recovery play; shareholders are being asked to approve very large related-party transactions (up to INR 500 crore aggregate annually), and the interest-free promoter loans carry an equity-conversion option that could dilute existing holders once the plant is revived.