Pursuant to Regulation 30 & 44(3) of SEBI LODR Regulations, 2015 attached herewith the Scrutinizer''s Report for the Postal Ballot Notice dated 24th April , 2025.
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Shiva Cement Limited has announced the results of its postal ballot conducted via remote e-voting from April 24 to May 23, 2025. Two ordinary resolutions were put to vote: (1) approval to enter into a Material Related Party Transaction with JSW Cement Limited, and (2) approval to take an Intercorporate Loan from JSW Cement Limited. Both resolutions were passed by shareholders with the requisite majority. Voting was open only to non-related parties as per SEBI Regulation 23(4), so promoters and promoter group (holding 196,006,985 shares, about 66.4% of equity) abstained. Public non-institutions polled 5,64,318 shares on Resolution 1 (84.61% in favour, 15.39% against) and 5,64,820 shares on Resolution 2 (84.63% in favour, 15.37% against). Overall voting turnout was very low at roughly 0.19% of outstanding shares (out of 29.5 crore total shares). The Scrutinizer, Meghana Mhatre, has confirmed both resolutions as validly passed.
Positive procedural outcome — the clear green light from public shareholders allows Shiva Cement to formalize transactions with its parent JSW Cement, likely strengthening capital and operational support. However, the very low voting turnout and promoter abstention mean the approvals came from a thin slice of public shareholders, so the resolutions are procedurally valid but carry limited validation of broader minority sentiment.