Mangalam Cement Limited has informed regarding Disclosure of material issue
MANGLMCEM · price
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Mangalam Cement had been declared the Preferred Bidder in July 2025 for a limestone mining lease of 408.2974 hectares at the Nimana Duniya Extension Block in Kota district, Rajasthan, after bidding 35.05% of the sale price. The Government of Rajasthan has now rejected this bid via an order dated 31st December 2025, stating that the 35.05% offer was comparatively lower than bids received for other similar limestone blocks in the region. The Department of Mines and Petroleum has acknowledged that the company complied with all procedural requirements, including depositing the upfront payment on time. The company is currently examining the matter and considering legal recourse.
This is a negative development as the company loses access to a key limestone reserve that would have supported its cement operations and raw material security. The rejection could increase reliance on purchased limestone or alternative mining leases, and legal action may add uncertainty. Shareholders may view this as a setback to the company's long-term raw material sourcing strategy.