Orient Cement Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
ORIENTCEM · price
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Orient Cement Limited has announced the results of a postal ballot conducted between March 3, 2026 and April 1, 2026 for two ordinary resolutions seeking shareholder approval for material related party transactions with Ambuja Cements Limited and ACC Limited for FY 2026-27. Both resolutions were passed with 61.73% of votes polled in favor and 38.27% against, on a relatively low turnout of 7.62% of total shares. Notably, the promoter group (holding ~14.93 crore shares, about 72.66% of equity) did not participate in voting as they are interested parties in both transactions, while public institutional investors (1.43 crore shares) voted 56.76% against the resolutions, and public non-institutional investors (4.18 crore shares) voted 99.55% in favor. Mr. Chirag Shah of Chirag Shah and Associates acted as the scrutinizer for the process.
The transactions have been cleared by shareholders, allowing Orient Cement to proceed with material related party deals with fellow Adani-group companies Ambuja Cements and ACC in FY27. However, the slim 61.73% approval margin and the fact that public institutional investors largely voted against the resolutions could raise governance concerns among long-term institutional shareholders.