Notice of Postal Ballot.
Awaiting price reaction for this filing.
Sanghi Industries (part of the Adani Group, cement manufacturer) has issued a Postal Ballot Notice seeking shareholder approval for two material modifications to existing related party transactions (RPTs) for FY 2025-26. Item 1 seeks approval to remove the Rs.50 crore sub-limit on Adani Global PTE Limited (AGPTE) within the combined Rs.750 crore cap already approved for Adani Enterprises Limited (AEL) and its wholly-owned subsidiary, to give more flexibility in sourcing solid fuels like coal and pet coke. Item 2 seeks approval to expand the nature of RPTs with Adani Cement Industries Limited (ACIL), a fellow subsidiary under Ambuja Cements since August 2025, to include sale and purchase of cement, clinker, raw materials and spare parts, while keeping the cap unchanged at Rs.250 crore. Both resolutions are Ordinary Resolutions. E-voting runs from September 23, 2025 to October 22, 2025, with September 19, 2025 as the cut-off date. The proposed AEL/AGPTE RPT of Rs.750 crore equals about 78% of SIL's FY25 turnover of Rs.960 crore, while the ACIL RPT of Rs.250 crore is about 26% of SIL's turnover and nearly 197% of ACIL's standalone turnover.
These are intra-group transactions within the Adani Group, so the outcome largely depends on the promoter group's voting. Shareholders should note that RPTs are sizeable relative to SIL's turnover and that the company has obtained an arm's length opinion from an external firm. Approval will allow business as usual with related parties; rejection could constrain SIL's sourcing and operational flexibility for the rest of FY26.