Pursuant to Regulation 30 & 44(3) of SEBI LODR Regulation, 2015 attached herewith the Scrutinizer''s Report for the Postal Ballot dated 29th August, 2025 of Shiva Cement LImited
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Awaiting price reaction for this filing.
Shiva Cement Limited, a subsidiary of JSW Cement Limited, conducted a postal ballot via remote e-voting from August 30 to September 28, 2025. All three resolutions were passed with the required majority. Resolution 1 (Special): Shifting the registered office from Odisha to Maharashtra was approved with 91.27% votes in favor (9,55,848 shares for vs 91,450 against). Resolution 2 (Ordinary): Material modification in the corporate guarantee from JSW Cement for a term loan facility was approved with 94.38% in favor. Resolution 3 (Ordinary): Material modification of a related party transaction with JSW Cement was approved with 94.57% in favor. Notably, the promoter group (JSW Cement) abstained from voting on Resolutions 2 and 3 as they are related party transactions. Voting turnout was very low at just over 1% of public non-institutional shares.
The registered office relocation to Maharashtra (likely Mumbai) signals a strategic shift closer to corporate/business hubs and parent JSW Cement's operations. The approved modifications to the corporate guarantee and related party transactions with parent JSW Cement suggest ongoing financial restructuring or support arrangements, which could affect the company's borrowing costs and debt structure. No immediate share price impact expected as all resolutions passed comfortably.