Sagar Cements Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on Jun 30, 2025
SAGCEM · price
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Sagar Cements held its 44th AGM on June 30, 2025 via video conferencing, where all 8 resolutions were passed with overwhelming majority (over 99.99% in favor). Key items approved include adoption of FY25 standalone and consolidated financial statements, re-appointment of two retiring directors (S. Sreekanth Reddy and S. Rachana), appointment of M/s B S R and Co as statutory auditors for a 5-year term till the 49th AGM in 2030, and re-appointment of Smt. Onteddu Rekha as Independent Director for a second 5-year term. Shareholders also ratified the Rs. 12 lakh remuneration for cost auditors (Narasimha Murthy & Co), approved M/s B S S & Associates as secretarial auditors for 5 years, and cleared a material related party transaction involving a corporate guarantee of Rs. 315 crores for subsidiary Andhra Cements Limited's credit facilities from Yes Bank and Union Bank of India, along with pledge of 2,18,90,883 equity shares. Promoters (holding 6.31 crore shares) abstained from voting on the related party resolution as required.
This is largely routine AGM housekeeping with strong shareholder backing for all proposals, signalling stable management support. The notable item is the Rs. 315 crore corporate guarantee for the subsidiary Andhra Cements, which expands the parent company's contingent liability but was approved with near-unanimous public shareholder support (99.97% in favor).