Sri Chakra Cement Ltd

Sri Chakra Cement Ltd announced the resignation of Sriram Kapilavai as Whole-time Director, effective August 25, 2026. Kapilavai cited personal reasons and a feeling of being unable to contribute meaningfully to the company's technical objectives due to the plant's non-operational status. He also expressed a desire to focus on personal growth and explore new career avenues. Kapilavai confirmed no other material reasons exist for his resignation. The company will take his resignation on record at the next Board Meeting.

Sri Chakra Cement Ltd has announced the re-appointment of Sri Vijayulu Reddy Kaliki as an Independent Director for a second tenure of five years. This decision, based on recommendations from the Nomination and Remuneration Committee and the Board of Directors, was approved by the company's members. The new tenure is set to commence on November 9th, 2026. Sri Kaliki is a qualified Chartered Accountant with 40 years of experience and also holds a directorship and committee memberships in Aditya Spinners Limited. This re-appointment aims to further strengthen the Board.

Sri Chakra Cement Ltd has announced the appointment of Sri Vijay Kumar Kapilavai as its new Chief Financial Officer (CFO). This appointment follows the resignation of the previous CFO, Mr. Srirama Vara Prasad Nendraganti, effective May 30, 2026. The Board of Directors approved the appointment on August 14, 2026. Mr. Kapilavai is a Commerce Graduate with over three decades of experience in production, finance, marketing, and company affairs. He is related to Sri K Sriram and Smt K V Naga Lalitha.

Sri Chakra Cement Ltd has announced its un-audited financial results for the quarter ended June 30, 2026. The company reported a net loss of ₹670.45 lacs for the quarter, a significant increase from the previous periods. Key concerns highlighted include the temporary suspension of manufacturing operations at the Karampudi Unit due to working capital constraints, a negative net worth, and current liabilities exceeding current assets. Additionally, the company received a demand notice under the Insolvency and Bankruptcy Code for ₹2.91 crores and its CFO resigned effective May 30, 2026, with the Managing Director taking additional charge. The auditors have issued a limited review report, noting these matters without modifying their opinion.

Sri Chakra Cement Ltd announced the outcome of its Board Meeting held on August 14, 2026. The board approved and recorded the Unaudited Quarterly Financial Results for the First Quarter ended June 30, 2026. Additionally, the appointment of Sri Vijay Kumar Kapilavai as the Chief Financial Officer (CFO) was approved with immediate effect from August 14, 2026. The meeting commenced at 9:36 AM and concluded at 5:45 PM.

Sri Chakra Cement Ltd has announced that its Board of Directors will convene on August 14, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The meeting will take place at the company's corporate office in Hyderabad. Concurrently, the trading window for dealing in the company's securities will remain closed for directors, officers, and designated persons from July 1, 2026, until 48 hours after the announcement of the financial results.

Sri Chakra Cement Ltd has received a demand notice (Form 4) under the Insolvency and Bankruptcy Code, 2016, from Ushodaya Enterprises, a coal supplier. The notice demands payment of ₹2,90,69,041 plus applicable MSME interest for unpaid operational debt. The company is reviewing the notice with legal counsel and evaluating the claims. Sri Chakra Cement expects to resolve the matter amicably within statutory timelines and does not anticipate any material impact on its operations or financial position.

Sri Chakra Cement Ltd has announced the temporary layoff of workmen from its factory unit located in Sri Narasimhapuri, Karampudi, Andhra Pradesh, effective August 1, 2026, until further notice. This decision follows a review of the company's business operations. The company has stated that all eligible workmen will receive lay off compensation and other statutory dues as per legal provisions. The indefinite nature of the layoff suggests potential operational challenges or restructuring within the company's manufacturing segment.

Sri Chakra Cement Ltd has issued a corrigendum to its 44th Annual Report for the Financial Year 2025-26. The company identified inadvertent clerical errors in the Share Capital Schedule, which have been updated on pages 62 and 99 of the report. An updated version of the Integrated Annual Report has been posted on the company's website. Sri Chakra Cement emphasizes that these typographical errors have no impact on the financial statements for the year ended March 31, 2026. The corrigendum should be read in conjunction with the original Integrated Annual Report.

Sri Chakra Cement Ltd has announced its 44th Annual General Meeting (AGM) will be held on August 19, 2026, at 12:00 Noon. The meeting will be conducted through video conferencing (VC) or other audio-visual means (OAVM), with the registered office serving as the deemed venue. Key agenda items include the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026, the re-appointment of Smt. Venkata Naga Lalitha Kapilavai as a director liable to retire by rotation, and the re-appointment of Sri Vijayulu Reddy Kaliki as an independent director for a term of five years effective November 9, 2026. Additionally, the remuneration payable to M/s Naval & Associates, Cost Auditors, for the financial year 2026-2027 will be ratified.