Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') - Notice of the 106th Annual General Meeting and Annual Report 2024-25
KESORAMIND · price
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Awaiting price reaction for this filing.
Kesoram Industries has filed the notice for its 106th Annual General Meeting along with the Annual Report for FY2024-25. The AGM will be held on Wednesday, July 16, 2025 at 11:30 a.m. via video conferencing, with the remote e-voting window running from July 12 to July 15, 2025 (cut-off date: July 9, 2025). The document confirms the completion of the demerger of the company's cement business to UltraTech Cement Limited (UTCL), which was sanctioned by NCLT on November 14 and 26, 2024 and became effective from March 1, 2025, with the Appointed Date being April 1, 2024. Post-demerger, standalone manufacturing has ceased and the remaining Rayon, Transparent Paper and Chemicals business now operates under wholly-owned subsidiary Cygnet Industries Limited. Standalone financials show total income of ₹23.81 crore, a loss before tax of ₹224.70 crore, but a net profit of ₹5,431.51 crore for the year, driven almost entirely by a one-time gain of ₹5,675.63 crore on the cement demerger. No dividend has been proposed due to the operating loss. The AGM will consider adopting financials, re-appointing Jikyeong Kang, appointing Jitendra Kumar Agarwal as Independent Director for 5 years, and appointing Ritu Bajaj of RP & Associates as Secretarial Auditor for FY2025-26 to FY2029-30 at ₹2.50 lakh plus tax.
This is a routine AGM and annual report filing, so no immediate price reaction is expected. However, it formally closes the chapter on the cement demerger with UltraTech and signals that Kesoram's standalone identity is now a small holding entity focused on Rayon, Paper and Chemicals via Cygnet Industries. Shareholders should note that the headline net profit is essentially a one-time accounting gain on demerger, while the continuing business remains loss-making, and no dividend has been declared.