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Shree Cement Ltd

BSE Code : 500387 | NSE Symbol : SHREECEM | ISIN:INE070A01015| SECTOR : Cement |

NSE BSE
 
SMC up arrow

26,186.95

382.25 (1.48%) Volume 42060

31-Mar-2023 EOD

Prev. Close

25,804.70

Open Price

25,835.00

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

26,186.95(4)

 

Today’s High/Low 26,425.00 - 25,750.35

52 wk High/Low 27,049.00 - 17,865.20

Key Stats

MARKET CAP (RS CR) 94448.03
P/E 66.18
BOOK VALUE (RS) 4884.4333127
DIV (%) 900
MARKET LOT 1
EPS (TTM) 395.54
PRICE/BOOK 5.35923992081899
DIV YIELD.(%) 0.34
FACE VALUE (RS) 10
DELIVERABLES (%) 66.63
4

News & Announcements

29-Mar-2023

Shree Cement Ltd - SHREE CEMENT LIMITED - Loss of Share Certificates

29-Mar-2023

Shree Cement Ltd - SHREE CEMENT LIMITED - Updates

28-Mar-2023

Shree Cement Ltd - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate

28-Mar-2023

Shree Cement Ltd - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate

28-Feb-2023

Shree Cement emerges highest bidder for Datima Coal Mine Block

24-Feb-2023

Shree Cement receives affirmation in credit ratings for CP

23-Feb-2023

Shree Cement receives affirmation in credit ratings for CP

13-Feb-2023

Shree Cement director resigns

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
ACC Ltd 500410 ACC
Ambuja Cement Eastern Ltd(merged) 532201
Ambuja Cement Rajasthan Ltd (Merged) 500122 AMBUJARAJN
Ambuja Cements Ltd 500425 AMBUJACEM
Balaram Cements Ltd 518034
Barak Valley Cements Ltd 532916 BVCL
Basera Cements Ltd(liquidated) 530275
Birla Corporation Ltd 500335 BIRLACORPN
Burnpur Cement Ltd 532931 BURNPUR
Dhar Cement Ltd(liquated) 502076
Gangotri Cement Ltd 518093
Garden Cements Ltd 40395
Gujarat High Tech Industries Ltd 524003
Gujarat Himalaya Cements Ltd 502096
Gujarat Sidhee Cement Ltd 518029 GSCLCEMENT
HeidelbergCement India Ltd 500292 HEIDELBERG
Indo American Cement Corporation Ltd 518099
J K Cements Ltd 532644 JKCEMENT
Jaipur Udyog Ltd 502145
Jamshedpur Cement Ltd 40103
Janpriya Cement Ltd 502088
JK Lakshmi Cement Ltd 500380 JKLAKSHMI
Kalyanpur Cements Ltd 502150
Kesoram Industries Ltd 502937 KESORAMIND
Kesoram Industries Ltd Partly Paidup 890156 KILPP
Lloyd Cements Ltd 531605
Mahendra Cements Ltd 518079
Mangalam Cement Ltd 502157 MANGLMCEM
Modern Cement Industries Ltd 518081
Narmada Cement Company Ltd(merged) 502162 NARMADCEM
Nihon Nirmaan Ltd 500453 NIHONIRMAN
Nirman Cements Ltd 531954
Nuvoco Vistas Corporation Ltd 543334 NUVOCO
OCL India Ltd(Merged) 502165 OCL
Panchmahal Cement Ltd 502070 PANCHMACEM
Pittie Cement & Industries Ltd(liquidated) 500332 PITTIECEM
Prism Johnson Ltd 500338 PRSMJOHNSN
Prudential Cements Ltd (Wound-up) 518059
Radhakisan Cement Ltd 502079
Ranisagar Cement Company Ltd 518107
RCC Cements Ltd 531825
Sahas Cements Ltd 531124
Samruddhi Cement Ltd(merged) 533209 SAMRUDDHI
Sanghi Industries Ltd 526521 SANGHIIND
Saurashtra Cement Ltd 502175 SAURASHCEM
Scan Projects Ltd 531797
Shree Digvijay Cement Co. Ltd 502180 SHREDIGCEM
Shree I-Jee Cement Industries Ltd 518089
Shri Hariganga Cement Ltd 502083
Shubham Industries Ltd 518087
Sigma Cements Ltd 518113
Somani Cement Company Ltd 518071 SOMANICEM
Star Cement Ltd 540575 STARCEMENT
Sukhchain Cements Ltd 518095
Udaipur Cement Works Ltd 530131 UDAICEMENT
UltraTech Cement Ltd 532538 ULTRACEMCO
Ultratech Nathdwara Cement Ltd 532849 BINANICEM
Vaishno Cement Co Ltd 526941
Varun Cements Ltd 518109
Vedvyas Cement Ltd 531195
Vinay Cements Ltd 518051
Vishwakarma Cements Ltd 518097
Zodiac Cements Ltd 532082

Share Holding

Category No. of shares Percentage
Total Foreign 8192490 22.71
Total Institutions 4315164 11.96
Total Govt Holding 152 0.00
Total Non Promoter Corporate Holding 71013 0.20
Total Promoters 22569197 62.55
Total Public & others 932732 2.59
Total 36080748 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Shree Cement Ltd

Shree Cement Ltd. is one of India's premier cement makers. The company's manufacturing operations are spread over North and East India across six states. The company has a consolidated cement production capacity of 46.40 million tonnes per annum(MTPA) and a power generation capacity of 771 MW. The company is an energy conscious & environment friendly business organization. They have three brands under their portfolio, namely Shree Ultra Jung Rodhak Cement, Bangur Cement and Rockstrong Cement. Their manufacturing units are located at Beawar, Ras, Khushkhera Suratgarh and Jobner (Jaipur) in Rajasthan, Laksar (Roorkee) in Uttarakhand, Aurangabad in Bihar, Panipat in Haryana, Baloda Bazar in Chhattisgarh and Bulandshahr in Uttar Pradesh. The company is headquartered in Kolkata, India. Shree Cement Ltd was incorporated in the year 1979. The company was promoted by Calcutta-based industrialists P D Bangur and B G Bangur. The company is one of the largest cement producers in Rajasthan (Beawar) and is the largest single location manufacturer in Northern India. During the year 1994-95, the company undertook new activities in the field of leasing and hire purchase. The company made a tie up with Christian Pfeiffer & Company, Germany, for installing a horizontal impact crusher to pre-crush clinker before using it in the cement mill for upgrading cement output and save energy. Also, they made a tie up with IKN, Germany, for incorporating their KIDS system in the clinker cooler. In the year 1997, the company commissioned their second plant with the capacity of 1.24 million tonnes, raising total capacity to 2.0 MTPA. In October 1997, the Raj Cement commenced their production. During the year 2001-02 the company exercised to commission a captive 36 MW thermal power project at a cost of Rs.120 crores. In September 2001, they signed an EPC contract with Thermax Ltd and commenced the civil work in October 2001. During the year 2003-04, the company installed a 36 MW captive power plant, which translated into a complete self-dependency and significant savings. During the year 2005-06, the company commissioned a greenfield plant of 1.5 million tonnes per annum (MTPA) capacity at Ras. In August 2005, they commissioned 6 MW captive thermal power plant at their cement manufacturing facility in Rajasthan. During the year 2006-07, the company expanded their production capacity at Bangur city from 1.50 MTPA to 3.00 MTPA by commissioning their unit-IV on March 26, 2007. Also, the company commissioned one unit of captive power plant of 18 MW capacity at Bangur city in order to meet the power requirement of the expanded capacity. In April 2007, they launched their third premium cement brand in the market called Tuff Cemento 3556. During the year 2007-08, the company completed two clun clinkerization units namely, unit V and VI at Bangur city and two grinding units at Khushkhera in Alwar, Rajasthan. Thus, the company attained a total capacity of 6.83 MTPA on ordinary portland cement (OPC) basis. Also, they commissioned the two captive power plants at Bangur City in order to meet the power requirement of these expanded capacities. During the year 2008-09, the company completed their 1 MTPA Clinkerisation Unit (unit-VII) at Bangur city and started their trial production on March 24, 2009. In September 2008, they increased the thermal power generation capacity by commissioning 18 MW turbine generator (TG-VI) at Bangur city. On 8 March 2010, company commissioned 1.8 MTPA Clinker Grinding Unit at Village Udaipur Udasar, Tehsil Suratgarh in Sri Ganganagar District, Rajasthan. On 15 March 2010, it commissioned 1.8 MTPA Clinker Grinding Unit at Village Akbarpur-Oud, Tehsil Laksar in Haridwar District, Uttrakhand. On 16 September 2010, Shree Cement announced that the company has lighted up its Clinker Manufacturing Unit (Unit VIII) of 1 Million tonnes Per Annum capacity at Bangur City, Ras in Pali District of Rajasthan on 15 September 2010. On 24 June 2013, Shree Cement announced that the company has lighted up its Clinker Manufacturing Unit having capacity of 6,000 Ton per day (TPD) at Bangur City, Ras in Pali Distt of Rajasthan on 20 June 2013. On 19 May 2014, Shree Cement commissioned one new cement unit of 2 Million Tons Per Annum (MTRA) capacity at Bangur City, Ras, District Pali, Rajasthan on 16 May 2014, which is named as Ras New Cement Unit (RNCU). On 1 July 2014, Shree Cement commissioned a grinding unit of 2 Million Tons Per Annum (MTPA) capacity at Aurangabad in Bihar on 30 June 2014. On the same day, it has lighted up its Clinker Manufacturing Unit having capacity of 6,000 Ton per day (TPD) at Bangur City, Ras in Pali District of Rajasthan on 30 June 2014. On 2 March 2015, Shree Cement announced the company has commissioned Cement Mill Section of 2.6 Million Tons Per Annum (MTPA) Capacity at Baloda Bazar near Raipur in Chhattisgarh on 25 February 2015. On 15 April 2015, Shree Cement announced that the company has completed the phase-2 of Ras New Cement Unit at Bangur City Ras, District Pali, Rajasthan and enhanced its cement production capacity by 2 MTPA with effect from 9 April 2015. On 27 April 2015, Shree Cement acquired 1.5 MTPA cement grinding unit of Jaiprakash Associates Ltd. situated at Panipat in the State of Haryana on a going concern basis for an aggregate consideration of Rs 358.22 crore. Earlier, on 19 September 2014, it entered into a Business Transfer Agreement (BTA) with Jaiprakash Associates and acquired 1.5 MTPA cement grinding unit of Jaiprakash Associates Ltd. situated at Panipat, in Haryana on a going concern basis. On 28 May 2015, Shree Cement commissioned clinker manufacturing unit of 1.5 Million Tons Per Annum (MTPA) capacity at Baloda Bazar near Raipur in Chhattisgarh on 20 May 2015. On 31 October 2015, Shree Cement announced that Cement Grinding Unit of 2 Million Tons Per Annum (MTPA) Capacity of the company at Bulandshahr in Uttar Pradesh was commissioned on 30 October 2015. On 19 February 2016, Shree Cement announced that it has emerged as the highest bidder for Limestone deposit at Village Karhi Chandi, District-Baloda Bazar- Bhatapara of Chhattisgarh having estimated reserve of 155 million tons spread over 242 hectares in an e-auction conducted by the state Government of Chhattisgarh on 18 February 2016. The official confirmation from Govt. of Chhattisgarh declaring Shree Cement as the winner of the above deposit is awaited. On 30 March 2016, company commissioned Autoclaved Aerated Concrete (AAC) Blocks Project having capacity of 3 Lac Cubic Meter Per Annum at Bulandshahr in Uttar Pradesh on 29 March 2016. On 22 June 2016, Shree Cement completed the expansion of grinding unit at Aurangabad (Bihar) to 3.6 MTPA on 22 June 2016. On 18 July 2016, company participated in the auction for coal linkages from South Eastern Coalfields Limited (a subsidiary of Coal India Ltd.) for cement sector. On 19 Jul 2016, Shree Cement announced that the company has completed the up-gradation of Preheater of Clinker line of Unit-I at Beawar (Rajasthan) on 15 July 2016. Consequently, the Clinker Capacity of Unit-I stands increased from 1.1 MTPA to 1.4 MTPA. On 7 November 2016, Shree Cement announced that it has decided to set up a new cement grinding unit of 3.6 MTPA with an initial plan to set up a blending unit at village Rohi Udaipur Udasar, District Sriganganagar, Rajasthan. The estimated cost of the new project is Rs 300 crore and it will be financed through internal accruals. The project is expected to be completed by the quarter ending June 2018. The company also announced expansion of existing cement grinding capacity at its Aurangabad, Bihar unit from 3.6 MTPA to 4.5 MTPA at an estimated cost of Rs 17 crore to be financed through internal accruals. The company also announced its decision to set up a new cement unit of 5.5 MTPA (considering 100% production based on PPC) in Bihar at an estimated cost of Rs 335 crore to be financed through internal accruals. On 20 January 2017, Shree Cement announced that the Competition Commission of India (CCI) has vide its order dated 19 January 2017, has passed an order against 7 cement companies including Shree Cement for alleged contravention of provisions of the Competition Act, 2002 in respect of bids submitted by them in tender floated by Director Supplies & Disposals, Haryana, for supply of cement at different locations within the state and imposed a penalty of Rs 18.44 crore on the company. Shree Cement said that the company has decided to file an appeal against the CCI order before the Competition Appellate Tribunal. The Board of Directors of Shree Cement at its meeting held on 30 January 2017 approved setting up of an integrated cement plant having clinker capacity of 2.8 MTPA and cement capacity of 3 MTPA at village Kodla in Karnataka. The total investment for the new plant is estimated at Rs 1800 crore. On 3 March 2017, Shree Cement announced that it has participated in the auction for coal linkage from South Eastern Coalfields Limited (a subsidiary of Coal India Ltd.) for cement sector and won the coal linkage for the company's cement plant at Raipur, Chhattisgarh. On 1 November 2017, Shree Cement announced that it has participated in the auction for coal linkage of Coal India Limited (SECL) for Captive Power Plant sub-sector and won the coal linkages in the State of Chhattisgarh. On 14 December 2017, the Company lighted-up its Clinkerisation Unit (KiIn-2) having capacity of 2.60 MTPA at Baloda Bazar near Raipur in Chhattisgarh. The Board of Directors of Shree Cement at its meeting held on 11 January 2018 acquired majority equity stake (minimum 92.83%) in Union Cement Company (P.S.C.) (UCC), a company based in UAE. It signed the Definitive Agreement in this regard with the sellers. It established in 1972, UCC, one of the leading cement manufacturers in the UAE, which is a listed company on the Abu Dhabi Securities Exchange. On 15 February 2018, Company commissioned new Cement Grinding Unit (namely Bangur Cement Unit) having capacity of 3.60 MTPA at Udaipur in Rajasthan. On 19 February 2018, it commissioned new Cement Grinding Unit having capacity of 2 MTPA at Aurangabad in Bihar. The Company acquired Union Cement Company (UCC), th Ras-Al-Khaimah, United Arab Emirates on 11 July 2018, which now holds a majority stake of 97.61%. The acquisition was made through Wholly Owned Step-down Subsidiary Company viz. Shree International Holding Ltd., incorporated in U.A.E. The Company acquired Raipur Handling and Infrastructure Private Limited (RHIPL) for Rs. 59 crore. During FY 2018-19, the Company completed an Integrated Cement Plant having capacity of 3 MTPA at Kodla in Kalaburagi (erstwhile Gulbarga) District of Karnataka. It commissioned balance 6.3 MW (3 Wind Towers) out of 21 MW Wind Power Plant at Village Kustagi, District Koppal in Karnataka. During 2019-20, Company completed Clinker Grinding Unit having capacity of 2.5 MTPA at Seraikela- Kharsawan District in Jharkhand. During 2020-21, Company commissioned commercial operations of Clinker Grinding Unit having capacity of 3 Million Ton Per Annum (MTPA) at Athagarh Tehsil in Cuttack District of Odisha. In FY 2021-22, Company commissioned commercial operation of Clinker Grinding Unit having capacity of 3 Million Ton Per Annum (MTPA) at Patas in Pune District of Maharashtra and Clinkerisation Unit (Kiln-3) having capacity of 12,000 Tons Per Day (4 MTPA) at Baloda Bazar, near Raipur in Chhattisgarh.

Shree Cement Ltd Chairman Speech

A resolve to change things for the better

Dear Shareholder,

Last few years have been challenging for everyone. The impacts of the pandemic are there for all of us to see and likely to remain so for the foreseeable future. Also, the impacts of climate change, rapid resource depletion, economic inequality and human rights are increasingly undeniable. The dreadful impacts should act as a stark reminder to us all of the fragility of human life and the planet.

At Shree Cement, we have always focused on the positives and the possibilities even during the most challenging of times. Life is about duality, and the brighter side of grey is as real as the darker side.

Our substantial work in the area of sustainability proves our determination to transform circumstances in our favour.

Among other priorities, climate change requires effective response through accelerated transition to a low carbon economy. Also, balancing the demands of meeting today’s operating environment, while investing for the future remains the need of the hour.

We have taken several steps in response to the very visible impacts of climate change. As a member of GCCA, we are working diligently towards meeting the goal of net-zero by 2050. We aim to reduce our emissions as per levels validated under Science Based Target initiative (SBTi). We also remain committed to make our operations more sustainable, inclusive and evolving. Our continued work towards

Although, we are making good progress in meeting our sustainability goals, we continue to strengthen our focus on areas where we want to aim higher.

increasing our share of green power, enhancing ratio of low carbon cement, growing usage of alternative raw materials and fuels, making deeper engagement with suppliers and customers, creating a great place to work by ‘people friendly’ policies and contributing actively towards development of our local community are steps towards making our operations climate friendly and inclusive.

Although, we are making good progress in meeting our sustainability goals, we continue to strengthen our focus on areas where we want to aim higher. We shall continue our unwavering commitment to make and do things that lead to a better world.

B. G. Bangur

Chairman

   

Shree Cement Ltd Company History

Shree Cement Ltd. is one of India's premier cement makers. The company's manufacturing operations are spread over North and East India across six states. The company has a consolidated cement production capacity of 46.40 million tonnes per annum(MTPA) and a power generation capacity of 771 MW. The company is an energy conscious & environment friendly business organization. They have three brands under their portfolio, namely Shree Ultra Jung Rodhak Cement, Bangur Cement and Rockstrong Cement. Their manufacturing units are located at Beawar, Ras, Khushkhera Suratgarh and Jobner (Jaipur) in Rajasthan, Laksar (Roorkee) in Uttarakhand, Aurangabad in Bihar, Panipat in Haryana, Baloda Bazar in Chhattisgarh and Bulandshahr in Uttar Pradesh. The company is headquartered in Kolkata, India. Shree Cement Ltd was incorporated in the year 1979. The company was promoted by Calcutta-based industrialists P D Bangur and B G Bangur. The company is one of the largest cement producers in Rajasthan (Beawar) and is the largest single location manufacturer in Northern India. During the year 1994-95, the company undertook new activities in the field of leasing and hire purchase. The company made a tie up with Christian Pfeiffer & Company, Germany, for installing a horizontal impact crusher to pre-crush clinker before using it in the cement mill for upgrading cement output and save energy. Also, they made a tie up with IKN, Germany, for incorporating their KIDS system in the clinker cooler. In the year 1997, the company commissioned their second plant with the capacity of 1.24 million tonnes, raising total capacity to 2.0 MTPA. In October 1997, the Raj Cement commenced their production. During the year 2001-02 the company exercised to commission a captive 36 MW thermal power project at a cost of Rs.120 crores. In September 2001, they signed an EPC contract with Thermax Ltd and commenced the civil work in October 2001. During the year 2003-04, the company installed a 36 MW captive power plant, which translated into a complete self-dependency and significant savings. During the year 2005-06, the company commissioned a greenfield plant of 1.5 million tonnes per annum (MTPA) capacity at Ras. In August 2005, they commissioned 6 MW captive thermal power plant at their cement manufacturing facility in Rajasthan. During the year 2006-07, the company expanded their production capacity at Bangur city from 1.50 MTPA to 3.00 MTPA by commissioning their unit-IV on March 26, 2007. Also, the company commissioned one unit of captive power plant of 18 MW capacity at Bangur city in order to meet the power requirement of the expanded capacity. In April 2007, they launched their third premium cement brand in the market called Tuff Cemento 3556. During the year 2007-08, the company completed two clun clinkerization units namely, unit V and VI at Bangur city and two grinding units at Khushkhera in Alwar, Rajasthan. Thus, the company attained a total capacity of 6.83 MTPA on ordinary portland cement (OPC) basis. Also, they commissioned the two captive power plants at Bangur City in order to meet the power requirement of these expanded capacities. During the year 2008-09, the company completed their 1 MTPA Clinkerisation Unit (unit-VII) at Bangur city and started their trial production on March 24, 2009. In September 2008, they increased the thermal power generation capacity by commissioning 18 MW turbine generator (TG-VI) at Bangur city. On 8 March 2010, company commissioned 1.8 MTPA Clinker Grinding Unit at Village Udaipur Udasar, Tehsil Suratgarh in Sri Ganganagar District, Rajasthan. On 15 March 2010, it commissioned 1.8 MTPA Clinker Grinding Unit at Village Akbarpur-Oud, Tehsil Laksar in Haridwar District, Uttrakhand. On 16 September 2010, Shree Cement announced that the company has lighted up its Clinker Manufacturing Unit (Unit VIII) of 1 Million tonnes Per Annum capacity at Bangur City, Ras in Pali District of Rajasthan on 15 September 2010. On 24 June 2013, Shree Cement announced that the company has lighted up its Clinker Manufacturing Unit having capacity of 6,000 Ton per day (TPD) at Bangur City, Ras in Pali Distt of Rajasthan on 20 June 2013. On 19 May 2014, Shree Cement commissioned one new cement unit of 2 Million Tons Per Annum (MTRA) capacity at Bangur City, Ras, District Pali, Rajasthan on 16 May 2014, which is named as Ras New Cement Unit (RNCU). On 1 July 2014, Shree Cement commissioned a grinding unit of 2 Million Tons Per Annum (MTPA) capacity at Aurangabad in Bihar on 30 June 2014. On the same day, it has lighted up its Clinker Manufacturing Unit having capacity of 6,000 Ton per day (TPD) at Bangur City, Ras in Pali District of Rajasthan on 30 June 2014. On 2 March 2015, Shree Cement announced the company has commissioned Cement Mill Section of 2.6 Million Tons Per Annum (MTPA) Capacity at Baloda Bazar near Raipur in Chhattisgarh on 25 February 2015. On 15 April 2015, Shree Cement announced that the company has completed the phase-2 of Ras New Cement Unit at Bangur City Ras, District Pali, Rajasthan and enhanced its cement production capacity by 2 MTPA with effect from 9 April 2015. On 27 April 2015, Shree Cement acquired 1.5 MTPA cement grinding unit of Jaiprakash Associates Ltd. situated at Panipat in the State of Haryana on a going concern basis for an aggregate consideration of Rs 358.22 crore. Earlier, on 19 September 2014, it entered into a Business Transfer Agreement (BTA) with Jaiprakash Associates and acquired 1.5 MTPA cement grinding unit of Jaiprakash Associates Ltd. situated at Panipat, in Haryana on a going concern basis. On 28 May 2015, Shree Cement commissioned clinker manufacturing unit of 1.5 Million Tons Per Annum (MTPA) capacity at Baloda Bazar near Raipur in Chhattisgarh on 20 May 2015. On 31 October 2015, Shree Cement announced that Cement Grinding Unit of 2 Million Tons Per Annum (MTPA) Capacity of the company at Bulandshahr in Uttar Pradesh was commissioned on 30 October 2015. On 19 February 2016, Shree Cement announced that it has emerged as the highest bidder for Limestone deposit at Village Karhi Chandi, District-Baloda Bazar- Bhatapara of Chhattisgarh having estimated reserve of 155 million tons spread over 242 hectares in an e-auction conducted by the state Government of Chhattisgarh on 18 February 2016. The official confirmation from Govt. of Chhattisgarh declaring Shree Cement as the winner of the above deposit is awaited. On 30 March 2016, company commissioned Autoclaved Aerated Concrete (AAC) Blocks Project having capacity of 3 Lac Cubic Meter Per Annum at Bulandshahr in Uttar Pradesh on 29 March 2016. On 22 June 2016, Shree Cement completed the expansion of grinding unit at Aurangabad (Bihar) to 3.6 MTPA on 22 June 2016. On 18 July 2016, company participated in the auction for coal linkages from South Eastern Coalfields Limited (a subsidiary of Coal India Ltd.) for cement sector. On 19 Jul 2016, Shree Cement announced that the company has completed the up-gradation of Preheater of Clinker line of Unit-I at Beawar (Rajasthan) on 15 July 2016. Consequently, the Clinker Capacity of Unit-I stands increased from 1.1 MTPA to 1.4 MTPA. On 7 November 2016, Shree Cement announced that it has decided to set up a new cement grinding unit of 3.6 MTPA with an initial plan to set up a blending unit at village Rohi Udaipur Udasar, District Sriganganagar, Rajasthan. The estimated cost of the new project is Rs 300 crore and it will be financed through internal accruals. The project is expected to be completed by the quarter ending June 2018. The company also announced expansion of existing cement grinding capacity at its Aurangabad, Bihar unit from 3.6 MTPA to 4.5 MTPA at an estimated cost of Rs 17 crore to be financed through internal accruals. The company also announced its decision to set up a new cement unit of 5.5 MTPA (considering 100% production based on PPC) in Bihar at an estimated cost of Rs 335 crore to be financed through internal accruals. On 20 January 2017, Shree Cement announced that the Competition Commission of India (CCI) has vide its order dated 19 January 2017, has passed an order against 7 cement companies including Shree Cement for alleged contravention of provisions of the Competition Act, 2002 in respect of bids submitted by them in tender floated by Director Supplies & Disposals, Haryana, for supply of cement at different locations within the state and imposed a penalty of Rs 18.44 crore on the company. Shree Cement said that the company has decided to file an appeal against the CCI order before the Competition Appellate Tribunal. The Board of Directors of Shree Cement at its meeting held on 30 January 2017 approved setting up of an integrated cement plant having clinker capacity of 2.8 MTPA and cement capacity of 3 MTPA at village Kodla in Karnataka. The total investment for the new plant is estimated at Rs 1800 crore. On 3 March 2017, Shree Cement announced that it has participated in the auction for coal linkage from South Eastern Coalfields Limited (a subsidiary of Coal India Ltd.) for cement sector and won the coal linkage for the company's cement plant at Raipur, Chhattisgarh. On 1 November 2017, Shree Cement announced that it has participated in the auction for coal linkage of Coal India Limited (SECL) for Captive Power Plant sub-sector and won the coal linkages in the State of Chhattisgarh. On 14 December 2017, the Company lighted-up its Clinkerisation Unit (KiIn-2) having capacity of 2.60 MTPA at Baloda Bazar near Raipur in Chhattisgarh. The Board of Directors of Shree Cement at its meeting held on 11 January 2018 acquired majority equity stake (minimum 92.83%) in Union Cement Company (P.S.C.) (UCC), a company based in UAE. It signed the Definitive Agreement in this regard with the sellers. It established in 1972, UCC, one of the leading cement manufacturers in the UAE, which is a listed company on the Abu Dhabi Securities Exchange. On 15 February 2018, Company commissioned new Cement Grinding Unit (namely Bangur Cement Unit) having capacity of 3.60 MTPA at Udaipur in Rajasthan. On 19 February 2018, it commissioned new Cement Grinding Unit having capacity of 2 MTPA at Aurangabad in Bihar. The Company acquired Union Cement Company (UCC), th Ras-Al-Khaimah, United Arab Emirates on 11 July 2018, which now holds a majority stake of 97.61%. The acquisition was made through Wholly Owned Step-down Subsidiary Company viz. Shree International Holding Ltd., incorporated in U.A.E. The Company acquired Raipur Handling and Infrastructure Private Limited (RHIPL) for Rs. 59 crore. During FY 2018-19, the Company completed an Integrated Cement Plant having capacity of 3 MTPA at Kodla in Kalaburagi (erstwhile Gulbarga) District of Karnataka. It commissioned balance 6.3 MW (3 Wind Towers) out of 21 MW Wind Power Plant at Village Kustagi, District Koppal in Karnataka. During 2019-20, Company completed Clinker Grinding Unit having capacity of 2.5 MTPA at Seraikela- Kharsawan District in Jharkhand. During 2020-21, Company commissioned commercial operations of Clinker Grinding Unit having capacity of 3 Million Ton Per Annum (MTPA) at Athagarh Tehsil in Cuttack District of Odisha. In FY 2021-22, Company commissioned commercial operation of Clinker Grinding Unit having capacity of 3 Million Ton Per Annum (MTPA) at Patas in Pune District of Maharashtra and Clinkerisation Unit (Kiln-3) having capacity of 12,000 Tons Per Day (4 MTPA) at Baloda Bazar, near Raipur in Chhattisgarh.

Shree Cement Ltd Directors Reports

#MDStart#

Management Discussion and Analysis

Dear Members,

The Directors take pleasure in presenting their 43rd Report and Audited Financial Statements of the Company for the financial year 2021-22. Management Discussion and Analysis

1. FINANCIAL PERFORMANCE

A brief of financial performance for the year gone by and its comparison with previous year is given below:-

Standalone Consolidated
Particulars 2021-22 2020-21 2021-22 2020-21
Revenue from Operations 14,305.88 12,668.87 15,009.56 13,559.77
Other Income 537.34 432.89 545.89 438.26
Total Income 14,843.22 13,101.76 15,555.45 13,998.03
Total Expenditure 10,658.04 8,689.04 11,301.63 9,480.32
Profit Before Interest Depreciation and Taxes (PBIDT) 4,185.18 4,412.72 4,253.82 4,517.71
Finance Costs 217.78 247.10 216.12 251.29
Depreciation and Amortization expenses 1,036.48 1,139.90 1,145.88 1,262.34
Profit Before Tax 2,930.92 3,025.72 2,891.82 3,004.08
Tax Expense 554.30 713.79 555.21 714.49
Profit After Tax 2,376.62 2,311.93 2,336.61 2,289.59
Profit attributable to Owners of the Company - - 2,331.94 2,285.87
Profit attributable to Non-ControllingInterest - - 4.67 3.72

Key highlights of the year (Standalone performance)-

• Sale volume (cement and clinker) witnessed an increase of 3% in 2021-22 from 26.84 million tons of previous year to 27.74 million tons during 2021-22. A notable improvement was seen in sales volume from Kodla unit in Southern India which went up significantly from 2.26 million tons to 2.69 million tons.

• Net revenue from operations grew by 13% from Rs.12,669 Crore to Rs.14,306 Crore mainly due to increase in sales volumes.

Key Cost components- Company faced input cost pressure due to spiraling inflation as a result of rising coal, diesel and other input costs. Key details for 2021-22 were as below:

(a) Raw material- Rising diesel prices led to increased mining cost despite continued optimization drive in our limestone mining operations. All major inputs including fly-ash witnessed increase compared to previous year. Resultantly, overall raw material cost increased by 20% from Rs.834 Crore in FY

2020-21 to Rs.1,002 Crore in FY 2021-22.

(b) Power Fuel- Global commodity crisis and supply disruption resulted in high cost of fuel and power for the Company. Company’s cost optimization measures continued to help

Company contain the impact. Its focus on energy management practices helped reduce power consumption per ton of cement from 68.65 kWh/ ton of year 2020-21 to 67.15 kWh/ ton of in year 2021-22. Company also increased share of green power in total energy consumption. Overall power and fuel cost shot up by 52% compared from Rs.2,082 Crore in previous year to Rs.3,161 Crore in FY2021-22.

(c) Logistics Cost- Logistics and transportation costs witnessed increase of 7% from Rs.3,037 Crore in FY 2020-21 to Rs.3,241 Crore in FY2021-22. Company continues to work on efficiency improvement initiatives, routes rationalization and raising use of technological tools in supply management, etc. to keep the logistics cost under check. One notable development was the work on building rail connectivity for some of its cement plants which will help enhance movement of materials through Railways and help contain the transportation cost.

• Overall the year witnessed continued input price rise leading to higher cost of production and freight. Resultantly, Profit Before Interest Depreciation and Tax (PBIDT) for the year 2021-22 came down by 5% to Rs.4,185 Crore compared to Rs.4,413 Crore of previous year 2020-21.

Key Financial Ratios

Key financial ratios showing the financial performance of the Company are as under: -

Particulars 2021-22 2020-21* Change Remarks
Operating Profit Margin (without other income) (%) 25.50 31.41 -18.83% Decreased mainly due to increase in power and fuel cost
Net Profit Margin (%) 16.61 18.25 -8.97%
Return on Net Worth (%) 13.76 15.16 -9.23%
Interest Coverage Ratio (Times) 19.22 17.86 7.61% Improved due to reduction in finance cost
Debtors Turnover (Times) 33.58 24.66 36.14% Improved due to increase in revenue from operations & decrease in trade receivables
Inventory Turnover (Times) 7.86 8.72 -9.84% Reduced due to increase in inventory
Current Ratio (Times) 1.69 1.69 - No change
Debt-Equity Ratio (Times) 0.10 0.11 -9.20% No significant change

* Ratios updated wherever necessary due to re-grouping/ re-classification of underlying financial numbers

2. DIVIDEND AND RESERVES

The Board of Directors have recommended a final dividend of Rs.45/- per equity share amounting to Rs.162.36 Crore for the year 2021-22 for approval of the members at the 43rd Annual General Meeting of the Company. The total dividend for 2021-22 aggregates to Rs.90/- per equity share which includes interim dividend of Rs.45/- per equity share paid for the year 2021-22. During the year 2020-21, Company had paid dividend of Rs.60/- per share amounting to Rs.216.48 Crore for the year 2020-21. financial health, The Board of Directors of the Company in line with provisions of Regulation 43A of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) had approved Dividend Distribution Policy on 12th August, 2016. The policy is uploaded on Company’s website and can be accessed at the link https://www.shreecement.com/uploads/ cleanupload/dividend-distribution-policy.pdf.

3. MANAGEMENT OUTLOOK OF MACRO ECONOMY AND INDUSTRY

I. Indian Economy-Developments and

Outlook

The biggest question as regards economic growth in 2021-22 is concerned was whether India’s GDP would regain pre-pandemic levels. Based on advance estimates, GDP data for 2021-22 suggests that it has. With an expected growth rate of 8.9% in 2021-22, India’s GDP is likely to be 1.8% more than what it was in 2019-20. The swift recovery, after the pandemic induced contraction, is mainly due to the rapid vaccination coverage as well as accommodative monetary and fiscal policy support. Government’s policy thrust on quickening virtuous cycle of growth via capex and infrastructure spending has increased capital formation in the economy lifting the investment to GDP ratio (GFCF) at around 28.3 percent in 2021-22 (based on Second Advance Estimates) from 26.6 percent in 2020-21 (based on Final Revised Estimates). The private investment is also on the path of recovery.

Currently, because of government’s thrust on capital expenditure and improved economycorporatesector’s stands on strong growth momentum. Strong

GST collection is a testimony to the strong macro-economic fundamentals of the Indian economy. Continued support by RBI by way of accommodative policy stance is also helping the economy. Rising number of private investment projects under implementation in manufacturing sector and increasing mobilization of risk capital bode well for acceleration in private investment. A sturdy and cleaned-up banking sector stands ready to support private investment adequately. Expected increase in private consumption levels will propel capacity utilization, thereby fueling private investment activity. There are thus signals indicating that India is poised for stronger investment.

If regaining pre-pandemic levels was the biggest challenge for 2021-22, the major challenge in 2022-23 is going to be to return to a high growth trajectory. There is greater uncertainty on this question led by elevated international commodity prices, increasing inflation, tight monetary policies, ongoing geopolitical crisis between Russia and

Ukraine and continuing global supply-side disruptions.

Over the past few years, Government has undertaken several structural reforms aimed at fulfilling the vision of Atmanirbhar Bharat and speeding up infrastructure development. The Production Linked Incentive (PLI) scheme launched in 2020 with an intent to give boost to the domestic manufacturing is attracting large investment. PLI Scheme covering 14 sectors is likely to result in manufacturing of $500 billion worth goods in the next five years. During 2021-22, Government has initiated Gatishakti - a National Master Plan for Multi-modal Connectivity that will accelerate development of seamless multimodal transport network and reduce the infrastructure gap. The Government is taking many more such steps to continue the growth momentum going. The initial estimates of real economy growth of year 2022-23 are projected at around 7.5 percent to 8 percent. There are challenges however in terms of heightened fears of inflation, emergence of another COVID wave and rising geo-political tensions. RBI’s stand on macro trends after Ukraine crisis has been instructive with focus being on gradual withdrawal of accommodation to control the inflation while supporting growth. All in all, while the Indian economy’s fundamentals appear capable of weathering the above challenges, Government and RBI will need to do continuous monitoring of external developments and take actions accordingly. Considering this, the overall outlook remains cautiously positive.

II. Cement Industry Development and

Outlook

On the back of a lower base, the cement production is estimated to have clocked a solid growth of around 20% during FY22 over FY21. With production volumes of around 345-350 million tons, the industry is expected to have surpassed pre-COVID levels by around 6%.

The solid growth during FY22 is largely because of rising government spending on infrastructure, continuation of strong demand from real estate sector and rural and affordable housing segment. Higher fiscal deficit of 6.9% during FY22 provided

Government with extra cushion for spending on infrastructure and development thereby creating demand for other sectors such as cement. The continuation of accommodative monetary policy by RBI ensured easy credit which in turn termsforhousing generated continued strong demand from housing segment. On the back of good monsoon and remunerative MSP/ market prices, the rural incomes have seen upward movement resulting in higher spending on housing. With continued focus of the Government on urban and rural affordable housing schemes have witnessed higher allocation and spending. All in all, FY 2022 has been a good year as far as demand is concerned. Industry has however faced the challenge of high input costs because of The coal prices have jumped due to pandemic induced supply side disruptions as well as Ukrain-Russia conflict which has increased the cost of power and fuel significantly general inflation has increased the cost of transportation and other input costs. Overall, the inflationary pressures have increased costs and impacted the margins.

Going forward, the demand conditions are expected to be strong. The factors such as higher fiscal space with Government for capital and infrastructure spending, rising rural incomes and continuation of

Government’s flagship scheme of affordable housing will drive cement demand. RBI is considering to gradually withdraw its accommodative stance which is likely to make housing finance dearer. This, however, is unlikely to hit housing demand in the near term. The outlook for cement demand is considered positive.

4. NEW/EXPANSION PROJECTS

Projects completed during the year- During the year 2021-22, commercial operation of Clinker Grinding Unit having capacity of 3.0 Million Ton Per Annum (MTPA) at Patas in Pune District of Maharashtra and Clinkerisation Unit (Kiln-3) having capacity of 12,000 Tons Per Day (4.0 MTPA) at Baloda Bazar, near Raipur in Chhattisgarh, has been started.

New Proects undertaken during the year- During the year, the Company has started work on the following projects: -

Integrated Cement At Gothra in Nawalgarh Tehsil of Rajasthan having Clinker Capacity of 3.80 MTPA and
Plant(s) Cement Capacity of upto 3.50 MTPA. The project is scheduled to be completed by Quarter ending March, 2024.
Solar Power Plants At different locations aggregating to 106 MWp to meet captive power requirement of cement plants of the Company. The same are expected to be completed by Quarter ending September, 2022.

New Proects undertaken by wholly owned subsidiary during the year- Company’s wholly owned subsidiary, Shree Cement East Pvt. Ltd. has started work on setting up of clinker grinding unit at Village Digha &

Parbatpur, in Purulia District of West Bengal having capacity of 3.0 MTPA. The project is likely to be completed by Quarter ending June, 2023.

5. RISK MANAGEMENT

Company’s risk management process is designed to identify and mitigate risks that have the potential to materially impact its business objectives and maintains a balance between managing risk and making most of the opportunities. The Board is responsible for overseeing the overall risk management framework of the Company. The Risk Management Committee of Board, keeps an eye on execution of the risk management plan of the Company and advises the management on strengthening mitigating measures wherever required. The actual identification, assessment and mitigation of risks are however done by key executives of the Company in consultation with professional in a systematic manner. The risks are prioritised according to significance and likelihood. Risks having high likelihood and high significance are classified as ‘key risk’.

The details of the Key Risks identified by the Company and its mitigation measures are given in ‘Risks and the Mitigation Strategies’ section of this Annual Report at page no. 20.

6. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Company has put in place adequate internal control systems commensurate with its size of operations. Company’s internal control systems include policies and procedures, IT systems, delegation of authority, segregation of duties, internal audit and review framework, etc. Company has laid down internal financial controls and systems with regard to adherence to Company’s policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records and timely preparation of reliable financial information. The framework is in compliance with the requirements of the Companies Act, 2013. The Company periodically assesses design as-well-as operational effectiveness of its internal controls across multiple functions and locations through extensive internal audit exercises. For carrying out internal audit, Company has an experienced in-house team manned by professionals. Based on the assessment and observations of internal audit, process owners undertake corrective action in their respective areas of operations, and thereby strengthen the processes and controls. Significant audit observations and corrective actions thereon are presented to the Audit

Committee of the Board on periodical basis. The Audit Committee evaluates the adequacy and effectiveness of internal financial control systems periodically.

Further, during the year, to improve and strengthen processes, finding opportunities for automation and optimizing costs, the Company has appointed conducting internal audit of different geographical firm locations of the Company. For this purpose, three renowned audit firms viz. one audit firm earlier.

7. HUMAN RESOURCES / INDUSTRIAL RELATIONS

Over last two years, we have seen the world order getting reinvented in a zillion ways. And along with it, changes have happened the way we work. As new practices figured out, it’s proven that people are the only competitive advantage that differentiate a company and its culture, the one that is most difficult to replicate, the advantage that walks out of the door every single day.

At SCL, people have been at the core of our business since our founding years. One of the few organizations that has Care and Happiness for all stakeholders as its guiding philosophy. The values that have become especially significant in these past years, the years that witnessed high turnover all over. Creating Happiness for all our stakeholders is the ‘WHY’ that our organization

| 115 has been founded on, this drives the ‘WHAT’ what needs to be done to create happiness, followed by the ‘HOW’ how do we do this. Purpose that drives the practice which defines the process. Few highlights for the last year were viz. a viz. one audit firm earlier.

a) A step ahead toward a Learning Organisation- As an extension of School of Training Education and Personal Success (‘STEPS’), the Company launched a unified portal https://www.shreesteps.com/ of its own, that aggregates all its initiatives towards building a learning organization. This was combined with native apps such as edcast for Android and iOS platforms to enable Anytime-Anywhere learning. The Company also introduced byte sized learning content to enable learning in the pace of work.

b) Simplified Moining experience- Recruitz, an app and online portal was launched to introduce a seamless joining experience for new hires from Selection to On-Boarding. It not only enhanced the joining experience, but also reduced process redundancies and increased efficiencies.

c) Improved process time in HR enabled by automation- Multiple processes that were partially o ine were automated 100%, thereby reducing response and solution time. This also adds to the data and predictive analytics for HR, which would help us build processes for the future.

d) Being there for people- The Health & Wellness teams organized regular vaccination camps across locations to ensure that all employees and their families were vaccinated. This was supported by a portal developed by Company’s in-house team, which tracked vaccination status and sent regular follow ups to ensure 100% compliance. Along with it the Health, Wellness and Administration team supported people who tested positive, helping them with medicines, food, periodic check-ups, oxygen support, tie up with hospitals, etc.

e) Significant Achievement in HR Excellence-

The Confederation of Indian Industries (CII) recognized the Company under category

‘Significant Achievement in HR Excellence’, which was a 100-point improvement from the last year, a milestone in our journey towards excellence. This recognition is based on a detailed examination of Company’s policies and practices as per the framework designed by CII followed by an onsite audit by senior members of the industry.

f) Commitment to being a Great Place to

Work- The Company was certified as a Great Place to Work for the 3rd consecutive year and also earned a badge for ‘Commitment to Being a Great Place to Work’. This was in addition to recognition of (a) being among India’s 100 Best Places to Work for, (b) among India’s Top 30 in the Manufacturing Sector for 3rd consecutive year and (c) among the best companies in Cement and Building Materials.

g) Industrial Relations- Company considers its employees as its biggest asset. It therefore, always strives to build healthy relationship with them and resolve issues through dialogue and discussions. As a result, employee relations remained cordial during the year. Total number of employees as on 31st March, 2022 were 6,445.

8. OCCUPATIONAL HEALTH AND SAFETY

Following a ‘Safety First’ approach, health and safety is a top priority area of the Company. Company has built a robust safety management system based on the globally recognized and practised OHSAS 18001 standard to institutionalize the organisation-wide focus on Occupational Health and Safety.

Safety Committees’ have been formed at all manufacturing units with equal representation from both management and non-management categories. These committees play a pivotal role in achieving the objective of ‘Safety First’ by undertaking assessment of safety issues on an ongoing basis and implementing suitable initiatives and programs for the same. To transform the way workers’ look at safety and make them aware and adopt best practices related to safety, these Committees periodically organise online and o ine trainings, mentoring and coaching with the help of internal and external safety experts. This has helped bringing about a consistent positive change to the workers’ safety performance. Such interactions are also helping the plant level safety committees get feedback from workers and thereby identifying hazards and minimise the recurrence of the same. The Company has established a structured hazard identification and risk assessment process which helps it identify potential risks which could have resulted in production disruptions and liabilities.

To provide its employees and contractual workers access to quality and instant healthcare services, Company has established ‘Wellness Management Centres’ (WMC) at all the locations. WMCs are equipped with qualified doctors and modern facilities which help carry out day to day health-care services and also conduct annual health check-ups for employees & contract workers. Health talks by experts and specialists are also organised to propagate awareness on chronic and lifestyle diseases.

All safety initiatives and employee engagement programs have been designed to ensure their continuous review and monitoring. Through a regular internal audit protocol, the Company assesses the overall safety performance and examines the existing procedures, systems and control measures for fire & safety hazards. Observations and recommendations are implemented by concerned departments within set timelines. As part of the process, monthly safety performance of all grinding units are reviewed and discussed with all safety professionals for implementation of common safety system and practices.

9. SUSTAINABILITY

Sustainability is at the forefront of the Company since inception and imbibed in its business model as a way of life. Company’s operational strategy is built on a long-term commitment to experiment and implement new ideas for improving efficiencies, minimising the use of input resources and promote circular economy in the process. Following were key initiatives / developments:-

a) Generation of power from renewable resources Company continued to lay strong focus on increasing use of renewable energy (RE) as part of its sustainability agenda. While

Company maintains its leadership position with regard to use of RE in its total energy consumption, it is steadily ramping up its RE power generation capacity spanning across Waste Heat Recovery (WHR), Solar and Wind power plants. During the Company has increased share of renewable energy in total energy consumption from 47.9% in FY 2020-21 to 48.2% in FY 2021-22. It has already undertaken work on setting up solar power plant capacity of 106 MWp at different locations for meeting its captive requirement.

The Company continues its recognition of having the largest WHR capacity in World Cement Industry excluding China. This apart, in terms of operational efficiency of WHRP, Company is regarded as one of the best in the industry. During the year, the Company installed 10.5 MW wind power plant in Maharashtra and 8.4 MW in Karnataka. Its total renewable power generation capacity (including WHR) stood at 263 MW at the end of financial year 2021-22.

b) Energy Conservation Energy conservation derives extreme focus of the Company and has seen numerous innovations and initiatives over the years ranging from shop-floor experiments to large capex. This has helped Company to reduce its carbon intensity and rationalize production costs. More details on initiatives taken in the area of energy conservation are given in Annexure 3 to this report. Company’s performance in energy conservation field is getting exemplified at platforms like "Perform, Achieve & Trade" (PAT) scheme of the Govt. of India wherein the Company overachieved its targets in PAT Cycle I, II and III continuously. The Company was awarded with the ‘Best Performer’ award for energy saving under PAT Cycle I by Bureau of Energy Efficiency.

c) Alternative Fuels and Raw Materials

Company is constantly working on to increase usage of alternative raw materials and fuels in its operations. Company uses of wastes of various industries such as Pharma, Chemical, Sponge Iron as alternate fuel. Company has also started utilizing MSW (Municipal Solid Waste), RDF (Refused Derived Fuel) and Agriculture Crop Residue as alternate fuel to conserve the natural resources. These measures have helped the Company to improve its Thermal Substitution Rate to 2.41% in FY 2021-22.As alternative raw materials, the Company has been using marginal grade limestone and quarry rejects with high grade material in a cost effective manner. Company’s share of alternate fuel and raw material in total fuel and raw material consumption stood at 9.84% and 27.23% in FY 2021-22.

d) Green products The Company has been producing blended cement under following categories: Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC) and Composite Cement (CC) conforming strictly to the specified BIS norms. Blended cement contributes to sustainable design by making concrete stronger and durable, reducing consumption of natural resources such as limestone, lowering greenhouse gas emissions and contributes to a circular economy by utilizing wastes from power, iron and steel plants. Use of blended cement also has cost benefits for Company’s customers. The share of blended cement in total cement production stood at 75.13% in FY 2021-22.

e) Emission Reduction Company has been constantly working on ways to reduce its carbon emissions. Over the years, measures such as installation of waste heat recovery plants, increased production of blended cement, increased usage of renewable energy, etc. have been taken by the Company in this direction. The Company has targeted to reduce Scope-1 GHG emissions by 12.7% per ton of cementitious materials by 2030 from a 2019 base year and Scope-2 GHG emissions by 27.1% per ton of cementitious materials within the same timeframe. These have been validated by Science Based Targets initiative (SBTi). Further as part of its membership of Global Cement and Concrete Association (GCCA), it is committed to achieve the carbon goals as are decided by GCCA from time to time.

f) Water Conservation Water is increasingly becoming a scarce and precious natural resource. The Company has been working on two-pronged approach of optimising water consumption as well as increasing availability of water through water harvesting and recharging. Company’s macro level initiatives in this regard such as installation of Air

Cooled Condensers in all its thermal power plants and setting-up Waste Heat Recovery based power plants have been a great success. Micro initiatives include construction of rain water harvesting structures around operating sites and mining area, installation of Sewage Treatment Plants for treating domestic waste water, use of recycled water in operations, online monitoring of ground water level, installation of water sensors & fixtures, etc. which help in reducing water consumption, increase water availability and reduce dependence on ground water.

g) Sustainability Reporting Company released its 17th annual Corporate

Sustainability Report for the reporting period 2020-21 titled "Progressing Responsibly with hard work and innovation". The said report was prepared in accordance with the "GRI Standards Comprehensive Option" and assured by an independent certifying agency.

The Company has also consistently issued its Business Responsibility Report as part of Annual Report since year 2012-13 disclosing its performance with respect to various Business Responsibility principles. This apart, it has been consistently participating in various benchmarking and rating exercises such as CDP, Dow Jones Sustainability Index, MSCI sustainability index, etc. to gauge its performance with peers and improve upon the same. Company is part of various global industry membership such as Global Cement and Concrete Association wherein also it shares its performance details on various aspects.

h) Engaging as knowledge partner In a unique initiative, during the year, the Company, held discussions with World Bank to act as a knowledge partner with them, on projects / programs relating to sustainability and climate change. The Company has offered to participate in initiatives, workshops, training programs, etc. relating to sustainability issues and fund research in the areas of Carbon Capture Usage & Storage (CCUS), use of waste materials, resource conservation, power storage technology and pollution control measures. It also facilities for setting-up pilot projects in these areas.

The Company, as part of its membership with Global Cement and Concrete Association, has participated in INNOVANDI project, which is designed to accelerate deployment of enabling technologies for CCUS. Under this initiative, the Company is collaborating with other member companies to identify solutions and technologies to address cement and concrete’s carbon footprint.

10. CORPORATE GOVERNANCE

Your Directors reaffirm their continued commitment to good corporate governance practices. During the year under review, Company was in compliance with the provisions relating to corporate governance as provided under the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). The compliance report is provided in the Corporate Governance section of this Annual Report. The Auditor’s Certificate on Corporate Governance is enclosed at Annexure - 1.

. BUSINESS RESPONSIBILITY REPORTING

Company is also releasing Business Responsibility Report (BRR) as part of this Annual Report covering its compliances towards the Business Responsibility Principles enunciated by the Securities and Exchange Board of India as required under Regulation 34(2) (f) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended).

. CORPORATE SOCIAL RESPONSIBILITY

As part of its triple bottom-line approach to its business, Company has always considered the community as its key stakeholder. It believes that the community around its operations should also grow and prosper in the same manner as does its own business. Accordingly, Corporate Social Responsibility forms an integral part of the Company’s business philosophy. To oversee all its CSR initiatives and activities, the Company has constituted a Board-level Committee - Corporate Social and Business Responsibility Committee. The major thrust areas of the Company include healthcare, education, women empowerment, infrastructure support, integrated rural development, etc. which are aligned to the areas specified under Schedule VII of the Companies Act, 2013. The Annual Report on CSR activities of FY 2021-22 with requisite details in the specified format as required under Companies (Corporate Social Responsibility Policy) Rules, 2014 (as amended) is enclosed at Annexure and forms part of this report. The CSR Policy of the Company may be accessed on website of the Company at link https://www.shreecement.com/investors/policies.

. SUBSIDIARY COMPANIES

The Company has following subsidiaries:

S. No. Name of Subsidiaries Nature of Interest
1 Shree Global FZE
2 Raipur Handling and Infrastructure Private Limited
3 Shree Cement East Private Limited Wholly Owned Subsidiaries
4 Shree Cement North Private Limited
5 Shree Cement South Private Limited
6 Shree Enterprises Management Ltd
7 Shree International Holding Ltd
8 Union Cement Company PrJSC Step-down Subsidiaries
9 U C N Co. Ltd LLC (earlier Union Cement Norcem Co. Ltd. LLC)
10 Shree Cement East Bengal Foundation Subsidiary Company (Incorporated under Section 8 of the Companies Act, 2013)

Audited financial statements of the subsidiaries of the Company are available on the website of the Company. The shareholders, who wish to receive a copy of Annual Accounts of the Subsidiary Companies, may request the Company Secretary for the same. The policy for determining material subsidiaries as approved by the Board can be accessed on the website of the Company at link https://www.shreecement.com/investors/policies.

Pursuant to Section 129(3) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, a statement containing salient features of the financial statements of the subsidiary companies in prescribed Form AOC-1 is given in the Consolidated Financial Statements of

Company and forms part of this Annual Report.

14. CONSOLIDATED FINANCIAL STATEMENTS

The Consolidated Financial Statements of the

Company have been prepared in terms of provisions of Companies Act, 2013 and Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) by following the applicable Accounting Standards notified by the Ministry of Affairs and forms part of this Annual Report.

. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors of the Company, to the best of their knowledge and belief and according to the information and explanations obtained by them, state that:

• In the preparation of the annual accounts for the year ended 31st March, 2022 the applicable accounting standards have been followed and there are no material departures from the same;

• They have selected such accounting policies, judgments and estimates that are reasonable and prudent and have applied them consistently so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2022 and of the statement of Profit and Loss as well as Cash Flow of the company for the year ended on that date;

• Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the

| 119 assets of the Company and for preventing and detecting fraud and other irregularities;

• The annual accounts have been prepared on a going concern basis;

• Necessary internal financial controls have been laid down by the Company and the same are commensurate with its size of operations and that they are adequate and were operating effectively; and

• Proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

16. PERFORMANCE EVALUATION OF BOARD, ITS COMMITTEES & INDIVIDUAL DIRECTORS

In terms of requirements of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) and provisions of Companies Act, 2013,

Nomination cum Remuneration Committee of the

Board of Directors of the Companyspecified the manner for effective evaluation of performance of Board, its Committees and Individual Directors.

Based on the same, the Board carried out annual evaluation of its own performance, performance of its Committees, Individual Directors including Independent Directors during the year. Company had adopted the evaluation parameters as suggested by the Institute of Company Secretaries of India and Securities and Exchange Board of India with suitable changes from Company’s perspective. The performance of the Board was evaluated by the Board on the basis of criteria such as Board composition and structure, effectiveness of Board processes, information flow to Board, functioning of the Board, etc. The performance of Committees was evaluated by the Board on the basis of criteria such as composition of Committees, effectiveness of Committee working, independence, etc. The Board evaluated the performance of individual Director on the basis of criteria such as attendance and contribution of Director at Board/Committee Meetings, adherence to ethical standards and code of conduct of the Company, inter-personal relations with other Directors, meaningful and constructive contribution and inputs in the Board/ Committee meetings, etc.

For the above evaluation, the Board members completed questionnaires providing feedback on different parameters as already stated above including on performance of Board / Committees

/ Directors, engagement levels, independence of judgment and other criteria. This is followed with review and discussions at the level of Board. The results of evaluation showed high level of commitment and engagement of Board, its various committees and working directors.

In a separate meeting of the Independent

Directors, performance evaluation of Non-Independent Directors, the Board as a whole and performance evaluation of Chairman was carried out, taking into account the views of Executive and Non-Executive Directors. The quality, quantity and timeliness of flow of information between the Company Management and the Board which is necessary for the Board to effectively and reasonably perform their duties were also evaluated in the said meeting.

The Independent Directors well appreciated the functioning of the Board of Directors, Working Directors as well as Committee of the Board. They were also highly satisfied with leadership role played by the Chairman.

Company had appointed an External Facilitator for the purpose of carrying out the performance evaluation in a fair and transparent manner.

17. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Director retiring by rotation - In accordance with the provisions of the Companies Act, 2013 and Articles of Association of the Company, Shri Prakash Narayan Chhangani (DIN: 08189579), Director of the Company (designated as Whole Time Director) will retire by rotation in the ensuing Annual General Meeting (AGM) and being eligible, offers himself for re-appointment. Item seeking approval of members for the same is included in the Notice convening the 43rd AGM. The Board recommends the reappointment of Shri Prakash Narayan Chhangani. His reappointment at the 43rd AGM as a director retiring by rotation would not constitute break in his appointment as a Whole Time Director.

Key Managerial Personnel - Shri Prashant Bangur (DIN: 00403621) was last appointed as Joint Managing Director of the Company for a period of 5 years from 1st April, 2017. His tenure as Joint Managing Director completed on 31st March, 2022. The Board of Directors of the

Company in its meeting held on 4th February, 2022, on the recommendation of Nomination cum Remuneration Committee and after evaluating his performance and considering the Company’s growth under his stewardship, approved his reappointment as Jt. Managing Director of the Company for a period of 5 st April, 2022 subject to approval of the members. Approval of Members was obtained by passing of Special Resolution through Postal Ballot on 1st April, 2022.

Independent Directors - The Board of Directors of the Company in its meeting held on 21st May, 2022, on the recommendation of Nomination cum Remuneration Committee), appointed Mr. Zubair Ahmed (DIN: 00182990) as Additional Director of the Company w.e.f. 21st May, 2022. He holds office as Additional Director up to the date of the ensuing Annual General Meeting. Further, the Board appointed him as Independent Director of the Company for a period of 5 (five) years w.e.f. 21st May, 2022 subject to approval of the members.

Profile and other information of the aforesaid Directors, as required under Regulation 36 of SEBI

(Listing Obligations and Disclosure Requirements) Regulations, 2015 and Secretarial Standard - 2 forms part of the Notice convening the 43rd Annual General Meeting.

During the year, Shri Om Prakash Setia (DIN: 00244443) resigned from the position of the Independent Director of the Company from close of Business Hours on 29th October, 2021 due to his personal reasons. Further, at the time of resignation, he confirmed that there were no material reasons for his decision to resign.

In accordance with Section 149(7) of the Companies Act, 2013 and Regulation 25(8) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), each Independent Director has given a declaration to the Company confirming that he/she meets the criteria of independence as Section 149(6) of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). They have also confirmed the compliance of Rule 6 of the Companies (Appointment and Qualification of Directors) Rule, 2014 regarding inclusion of their name in the data bank of Indian Institute of Corporate Affairs (IICA).

18. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

In order to acquaint the new directors with the Company, a detailed presentation is given to them at the time of their appointment which covers their role, duties and responsibilities, Company’s strategy, business model, operations, markets, organizational structure, products, etc. A detailed yearsw.e.f.1 presentation along similar lines is sent to existing

Independent Directors every year to keep them apprised of the above details.

As part of Board discussions, presentation on performance of the Company is made to the

Board during its meeting(s). Plant visits are also arranged for Independent Directors from time-to time for better understanding of the Company’s operations. The details of such familiarisation programmes for Independent Directors are posted on the website of the Company and can be accessed at link https://www.shreecement.com/ investors/shareholder-information.

19. CONSERVATION OF ENERGY, TECHNOLOGY

ABSORPTION AND FOREIGN ECHANGE

EARNINGS/ OUTGO

The particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is set out at Annexure - 3 which forms part of this report.effective

20. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the

Companies (Appointment and Remuneration of

Managerial Personnel) Rules, 2014 are provided at

Annexure - 4.

In terms of the provisions of Section 197(12) of the Companies Act, 2013 read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the names and other particulars of under the top ten employees and employees drawing remuneration in excess of the limits as provided in the said rules are set out in the Board’s Report as an addendum thereto. However, in terms of provisions of the first proviso to of the Companies Act, 2013, the Annual Report is being sent to the members of the Company excluding the aforesaid information. The said information is available for inspection at the Registered Office of the Company during such working hours as are provided under the Articles of Association of the Company and any member interested in obtaining such information may write to the Company Secretary and the same will be furnished on request.

21. AUDITORS

I. Statutory Auditors

M/s. Gupta & Dua, Chartered Accountants (Firm Registration No. 003849N), who are the Statutory Auditors of the Company, shall hold office till the conclusion of the ensuing Annual General Meeting. They have given their report on the Annual Financial Statements for Financial Year 2021-22. The Audit Report does not contain any or adverse remark. As per the provisions of Section 139 of the Companies Act 2013, the term of office of M/s. Gupta & Dua, as Statutory Auditors of the company will conclude with the ensuing AGM of members of the Company.

The Board of Directors of the Company in its meeting held on 21st May, 2022, on the recommendation of Audit Committee, appointed M/s. B R Maheswari & Co LLP,

Chartered Accountants (Firm Registration

No. 001035N/N500050) as the Statutory

Auditors of the Company for a period of 5

(Five) consecutive years commencing from the conclusion of ensuing 43rd Annual General

Meeting till the conclusion of 48th AGM, subject however to approval of the members at the ensuing AGM. The Statutory Auditors have and eligibility for their appointment.

The members’ attention is drawn to a

Resolution proposing the appointment of

M/s. B.R. Maheswari & Co LLP, Chartered Accountants, as Statutory Auditors of the Company which is included in the Notice convening the 43rd AGM.

II. Secretarial Auditors

The Board had appointed M/s. Pinchaa & Co.,

Company Secretaries as Secretarial Auditor of the Company to conduct Secretarial Audit for the Financial Year 2021-22. They have submitted their report in prescribed format and the same is enclosed at Annexure - 5. The Secretarial Audit Report does not contain any qualification, reservation or adverse remark.

III. Cost Auditors

In terms of the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit)

Amendment Rules, 2014, the Board of

Directors of the Company have appointed M/s. K. G. Goyal & Associates, Cost Accountants, Jaipur (Firm Registration No. 00024) to conduct the cost audit for the financial year ending 31st March, 2023 at a remuneration as stated in the Notice convening the 43rd Annual General Meeting of the members. As required under the Companies Act, 2013, the remuneration payable to cost auditors has to be placed before the Members at the general meeting for ratification. Hence, a resolution seeking ratification of remuneration by the Members, reservation payable to the Cost Auditors, forms part of the Notice of the ensuing 43rd AGM.

The Cost Auditors are in process of conducting the audit of cost records fromtheconclusionof for year 2021-22 and shall submit their report in due course.

22. OTHER DISCLOSURES

(a) Composition of Audit Committee- The Audit Committee comprises of Shri Shreekant

Somany as Chairman, Shri R. L. Gaggar, Dr. Y. K. Alagh, Shri Nitin Desai and Shri Sanjiv Krishnaji Shelgikar as other Members. More details are given in the Corporate Governance Report. All the recommendations made by the Audit Committee were accepted by theBoard.

(b) Details of Meetings of Board and its

Committees-theirindependencestatus The Board of Directors of your

Company met 4 times during the year to deliberate on various matters. The meetings were held on 21st May, 2021, 9th August, 2021, 29th October, 2021 and 4th February, 2022. Further details are available in the Corporate Governance Report forming part of this Annual Report. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013 and the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended).

(c) Annual Return- In terms of Section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company is available on the website of the Company at link https://www.shreecement. com/investors/shareholder-information.

(d) Particulars of Loans Guarantees or

Investments- Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Act read with the Companies (Meetings of Board and its Powers) Rules, 2014 are given in Notes to the standalone financial statements.

(e) Related Party Transactions- All Related

Party Transactions during the financial year 2021-22 were on arm’s length basis and in ordinary course of business. They were all in compliance with the applicable provisions of the Companies Act, 2013 and the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). All such transactions are placed before the Audit Committee for review/approval. The necessary omnibus approvals have been obtained from Audit Committee wherever required. There were no material Related Party Contracts/ Arrangements/Transactions made by the Company during the year 2021-22 that would have required Shareholders’ approval under provisions of Section 188 of the Companies Act, 2013 or of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). The Company has adopted a Related Party Transactions Policy duly approved by the Board, which is uploaded on the Company’s website & may be accessed at link https://www.shreecement.com/ investors/policies.

Further, in terms of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, the transactions with person/entity belonging to the promoter/ promoter group holding 10% or more shareholding in the Company are as under:

Name of the Entity Holding in the Company Amount ( Rs.Crore) Nature of Transaction
Shree Capital Services Ltd. 24.90% 0.48 Payment of Office Rent

(f) Deposits from Public- The Company has not accepted any deposits from public covered under Chapter V of the Companies Act, 2013 during the year and as such, no amount on account of principal or interest on deposits from public was outstanding.

(g) Managing the Risk of Fraud Corruption and Unethical Business Practices Vigil Mechanism/Whistle Blower Policy-

The Company has adopted a Whistle Blower Policy and established the necessary vigil mechanism for employees and Directors to report concerns about unethical behaviour. The policy provides for adequate safeguards against victimization of employees who avail of the mechanism and also provides for direct access to the Chairman of the Audit

Committee. The Whistle Blower Policy may be accessed on the website of the Company at link https://www.shreecement.com/ investors/policies.

Ethics Transparency and Accountability Policy Code of Conduct- Company believes in the principle of trust, which can be derived through ethical practices, transparency and accountability to stakeholders. Keeping the same into account, Company has in place policy of Ethics, Transparency and Accountability Policy & Code of Conduct. Every director and employee is required to adhere to the said policy. The details of the policy can be accessed on the website of the Company at link https://www.shreecement. com/investors/policies.

Anti-Bribery and Anti-Corruption Policy-

To conduct the business in an ethical, honest and transparent manner, the Board of Directors of the Company has adopted Anti- Bribery and Anti-Corruption Policy. Company has zero tolerance approach toward bribery and corruption. Every individual or group of individuals, associated with the Company in any form, be it director or employee or worker or contractor or dealer or supplier is required to follow the said policy. The details of the policy can be accessed on the website of the Company at link https://www. shreecement.com/investors/policies.

(h) Remuneration Policy- Company firmly believes in nurturing a people friendly environment, which is geared to drive the organisation towards high and sustainable growth. Each and every personnel working with Company strives to achieve the

Company’s vision of being the best in the industry. Its Remuneration Policy is therefore designed to achieve this vision. The policy has been approved by the Board on the recommendation of Nomination cum Remuneration Committee. The policy is applicable to Directors, Key Managerial Personnel (KMP) and other employees.

The directors and KMPs are appointed on the recommendation of Nomination cum Remuneration Committee in terms of

Companies Act, 2013. The factors for deciding the Remuneration of working directors, KMPs and senior executives includes, responsibility and profile of Individual, remuneration packages of peer group, accolades and recognition conferred on the individual, performance of the sector in which company operates, overall performance of the Company including its ESG/sustainability performance.

The Remuneration Policy can be accessed on the website of the Company at link https:// www.shreecement.com/investors/policies.

(i) Policy on Prevention Prohibition and Redressal of Sexual Harassment at Workplace- The Company has complied with the provisions of the constitution of the Internal Committee under the Sexual

Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013 and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at the Workplace, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made thereunder. Company has formed an ‘Internal Complaints Committee’ for prevention & redressal of sexual harassment at workplace. The Committee has 6 members and is chaired by a senior woman member of the organisation. The Company has not received any complaint of sexual harassment during the financial year 2021-22.

() Material Changes after the Close of Financial Year: There have been no material changes and commitments which have occurred after the close of the year till the date of this report, affecting the financial position of the Company.

(k) Significant and Material Orders passed by the Regulators or Courts- No significant material orders have been passed by the Regulators or Courts or Tribunals which would impact the going concern status of the Company and its future operations.

(l) Maintenance of Cost Records- Company is required to maintain cost records as specified by the Central Government under subsection (1) of section 148 of the Companies Act, 2013, accordingly such accounts and records are made and maintained by the Company.

(m) Compliance with Secretarial Standards-

Company has complied with the Secretarial Standards issued by Institute of Companies Secretaries of India (ICSI) on Board Meetings (SS- 1) and General Meetings (SS-2).

23. ACKNOWLEDGEMENT

The Directors take this opportunity to express their deep sense of gratitude to its Central and

State Governments and local authorities for their continued co-operation and support. They also would like to place on record their sincere appreciation for the commitment, hard work and high engagement level of every member of the Shree family without which the exemplary performance of the Company year after year, would not have been possible. The Directors would also like to thank various stakeholders of the Company including customers, dealers, suppliers, lenders, transporters, advisors, local community, etc. for their continued committed engagement with the Company. The Directors would also like to thank the Members of the Company for confidence and trust reposed inthem.

For and on behalf of the Board
B. G. Bangur
Place: Kolkata Chairman
Date : 21st May, 2022 DIN: 00244196

ANNEXURE TO BOARD REPORT

Annexure-1 to the Board’s Report

Independent Auditors’ Certificate on Corporate Governance

To, The Members of

Shree Cement Limited

1. We, Gupta & Dua, Chartered Accountants, the

Statutory Auditors of Shree Cement Limited

("the Company"), have examined the compliance of conditions of Corporate Governance by the Company, for the year ended on 31st March, 2022, as stipulated in regulations 17 to 27 and clauses (b) to (i) of regulation 46(2) and para C and D of Schedule V of the SEBI Listing (Obligation and Disclosure requirements) Regulations, 2015 (the Listing Regulations).

Management’s Responsibility

2. The compliance of conditions of Corporate Governance is the responsibility of the Management. This Responsibility includes the Design, implementation and maintenance of internal controls and procedures to ensure the compliance with the conditions of the Corporate Governance stipulated in Listing Regulations.

Auditors’ Responsibility

3. Our responsibility is limited to examining the procedures and implementation thereof, adopted by the Company for ensuring compliance with the conditions of the Corporate Governance. It is neither an audit nor an expression of opinion on the financial Statements of the Company.

4. We have examined the books of account and other relevant records and documents maintained by the Company for the purposes of providing reasonable assurance on the compliance with Corporate Governance requirements by the Company.

5. We have carried out an examination of the relevant records of the Company in accordance with the Guidance Note on Certification of Corporate Governance issued by the Institute of the Chartered Accountants of India (the ICAI), the Standards on Auditing specified under Section 143(10) of the Companies Act 2013, in so far as applicable for the purpose of this certificate and as per the Guidance Note on Reports or

Certificates for Special Purposes issued by the ICAI which requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI.

6. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial

Information and Other Assurance and Related

Services Engagements.

Opinion

7. Based on our examination of the relevant records and according to the information and explanations provided to us and the representations provided by the Management, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in regulations 17 to 27 and clauses (b) to (i) of regulation 46(2) and para C and D of Schedule V of the Listing Regulations during the year ended 31st March, 2022.

8. We state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the Management has conducted the affairs of the Company.

For Gupta & Dua
Chartered Accountants
Firm’s Registration No.: 003849N
Place: Kolkata Mukesh Dua
Date: 21st May, 2022 Partner
UDIN: 22085323AJNBRT5935 Membership No.: 085323

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Shree Cement Ltd Company Background

H M BangurNeeraj Akhoury
Incorporation Year1979
Registered OfficeBangur Nagar,P B No 33 Beawar
Ajmer,Rajasthan-305901
Telephone91-1462-228101-06/228101,Managing Director
Fax91-1462-228117/228119/228117
Company SecretaryS S Khandelwal
AuditorGupta & Dua/B R Maheswari & Co LLP
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarLink Intime India Pvt Ltd
C-101 247 Park,L B S Marg,Vikhroli West,Mumbai-400083

Shree Cement Ltd Company Management

Director NameDirector DesignationYear
B G BangurChairman Emeritus2022
H M BangurChairman2022
Shreekant SomanyNon-Exec. & Independent Dir.2022
Y K AlaghNon-Exec. & Independent Dir.2022
Nitin DesaiNon-Exec. & Independent Dir.2022
S S KhandelwalCompany Secretary2022
Prashant BangurVice Chairman2022
Sanjiv Krishnaji ShelgikarNon-Exec. & Independent Dir.2022
Uma GhurkaNon-Exec. & Independent Dir.2022
Zubair AhmedAddtnl Independent Director2022
Neeraj AkhouryManaging Director &Addtnl Dir.2022

Shree Cement Ltd Listing Information

Listing Information
BSE_500
BSE_100
BSE_200
BSEDOLLEX
NIFTYJR
CNX500
CNX100
CNXINFRAST
CNX200
CNXCOMMODI
BSECARBONE
NFT100EQWT
BSEALLCAP
BSELARGECA
BSEMETERIA
SENSNEXT50
ESG100
LMI250
BSEDSI
BSE100LTMC
NFTYLM250
NF500M5025

Shree Cement Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Cement Ton43400000263610002631800012037.38
Incentives & Subsidies NA 000255.91
Clinker Ton0171250000157.37
Power Generation MW 75200105.98
Scrap Sales NA 00027.24
Other Operating Revenues NA 0004.51
Excise Duty NA 0000
Rebate & Discounts NA 0000
Internal Consumption NA 0000
Power Traded NA 0000
Thermal Power MW 0000
Thermal Power Uni0000

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