Deccan Cements Ltd. — AGM Information 2023

DECCAN CEMENTS LiMITED

CIN : L269421G1979PLC002500 REGD OFFICE : 6-3-666/B, "DECCAN CHAMBERS", SOMAJIGUDA, HYDERABAD - 500 082. PHONE : +91 (40) 23310168, 23310552, +91 (40) 23310561, 23310599 FAX +91 (40) 23318366 E-MAIL : [email protected] WEBSITE : www.deccancements.com

DCL:SECY:2023

BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

22' September 2023

National Stock Exchange of India Limited Listing Department Exchange Plaza, Plot No. C/i C Block Bandra-Kurla Complex, Bandra (East) Mumbai - 400 051

Scrip Code: 502137

Trading Symbol: DECCANCE

Sub: Proceedings of the 43 Annual General Meeting (AGM) held on 22 September 2023 (Friday).

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the proceedings of the 43rd Annual General Meeting (ACM) of the Members of the Company held on Friday, 22r September 2023, from 11:00 A.M. to 12:36 P.M. through Video Conferencing ('VC')/Other Audio Visual Means ('OAVM') is furnished below:

TOTAL NUMBER OF SHAREHOLDERS AS ON THE CUT OFF DATE (15.09.2023): 16,184

MEMBERS PRESENT THROUGH VIDEO CONFERENCING: 64

Ms. P. Parvathi, Chairperson and Managing Director of the Company, chaired the Meeting.

Before commencing the formal proceedings of the ACM, the members observed one minutes silence in the memory and honour of Mr. M.B.Raju, the founder, promoter chairman of the Company.

The Company Secretary delivered a welcome address and introduced the Directors, the Auditors and others present at the Meeting.

The company secretary stated as under:

The Ministry of Corporate Affairs and the SEBI have permitted companies to hold their Annual General Meeting (AGM) through Video Conferencing ('VC')/Other Audio Visual Means ('OAVM') and also have allowed companies to send Annual Reports (_ the Notice convening the AGM electronically.

Works: Bhavanipuram, Janpahad P.O., Pin:508 218. Suryapet Dist. (T.S.\'I Phones: (08683) 229503. 229504, 229505, 229507, Fax: (08683) 229502¼' -ç /

Accordingly, the 43rd AGM of the Company is being conducted through Video Con ferencing. The soft copy of the Annual Report has been sent to all the Members. who have registered their e-mail addresses either with the Depository Participants.) or with the Company/RTA. Further, physical copy of the Annual Report has been sent to shareholders who have requested for the same.

The Register of Directors and Key Managerial Personnel and their shareholding, the Register of Contracts or arrangements in which the Directors are interested, and the other documents mentioned in the Notice convening this meeting is available for inspection by the Members. Members seeking to inspect such documents can contact the Secretarial Department of the Company.

Since the meeting is being held electronically, as mentioned in the Notice convening the meeting, the proxy related procedures have been dispensed with which is in line with the regulatory requirements.

Being a listed company, the Company is required to provide E-voting facility to its shareholders. The Company has engaged the services of Mis. KFin Technologies Limited (in short Kfin tech) to provide the facility of remote e-voting to all its members to cast their votes on all businesses contained in the Notice convening the AGM. Voting will be in proportion to the shares held by the members as on a cut-off date, which is 15th September2023, in our case.

In line with the regulatory requirements, remote E-voting facility on Kfintech's evoting platform had been provided to the members of the Company for three days starting from 9:00 A.M. of 19th September 2023 till 5:00 P.M. of 21st September 2023. This module was disabled for voting by KFintech thereafter.

As mentioned in the ACM Notice, members who did not cr could not avail the remote E-voting facility, the Company is pleased to provide them the facility to cast their votes electronically during the ACM on all the proposed resolutions through KFintech's InstaPoll mechanism. The InstaPoll facility will be activated at the end of the meeting. Members can avail this facility and cast their votes on the resolutions proposed in the Notice. Let me reiterate that this facility is available only to those members who have not cast their votes through the remote E-voting facility provided earlier by the Company. In case any member who has already voted in the remote E-voting, he/she will not be able to cast his/her vote again through InstaPoll.

The Board has appointed Mr. V. Shankar, Practicing Cos;pany Secretary to scrutinise the E-voting process in a fair and transparent manner. Once all the members cast their votes, the votes will be counted by Mr. V. Shankar, the Scrutiniser. He will then unblock the results of the remote E-voting which will then be consolidated with the results of the voting done today during the meeting. ,pMF\

DECCAN CEMENTS LIMITED Continuation Sheet No

The Voting Results along with Scrutinizer's report will be communicated to the Stock Exchanges within 48 hours and the same will be placed on the webs ite of the Company and on e-voting platform of KFintecfl.

To sum up, following is the schedule for today's meeting:

After the conclusion of the CMD's speech, members those who have registered themselves as a Speaker will be invited by the Moderator. Considering the time of all those attending the meeting, we request the Speakers to be brief and restrict their address to matters relevant to the business contained in the AGM notice.

After this, the questions or queries raised by the Speakers would be tabulated and answered. After the queries have been answered, the meeting will conclude and those who have not yet cast votes would be given the opportunity to exercise the same.

Then the Chairperson and Managing Director delivered the Chairperson's Speech (copy enclosed).

As the Auditor's report on the financial statements of the Company and the Secretarial Auditor's report does not contain any qualification, reservation, or adverse remarks the same were taken as read.

Then, the Company Secretary read out the business items contained in the Notice of the ACM.

The businesses contained in the Notice of the AGM, which were transacted at the AGM are as under:

The Ordinary businesses set out in the AGM notice:

• 1 To consider and adopt the audited financial statements of the Company for the financial year ended 31st March 2023 and the reports of the Board of Directors and Auditors thereon.
• 2 To consider declaration of final dividend for FY 2022-23.
• 3 To consider re-appointment of Mr. R Gopalakrishnan (DIN: 00296413) as Director, who retires by rotation.

The Special businesses set out in the AGM notice:

4 To consider and ratify Cost Auditor's remuneration for the Financial Year 2023- 24.

Further, the Company Secretary stated that all proposed resolutions need to be passed by Ordinary Resoiution only.

With the permission of the Chair, the Company Secretary requested the moderator to facilitate shareholders to speak / raise clarifications regarding the accounts and operations of the Company during the year 2022-23 in the sequence of their registration.

Then, the Chairperson and Managing Director, Chief Financial Officer, Director (Works), Senior Vice President (Marketing) and the Company Secretary clarified the queries raised by the members.

As there was no other business to be transacted, the Chairperson and Managing Director requested the Company Secretary to make necessary instructions for the lnstaPoll, and declared that after the InstaPoll the 43rd AGM will be closed.

The Company Secretary gave necessary instructions for the InstaPoll. The Company Secretary inform the members that Mr. V. Shankar, Scrutiniser will submit the report to the Company after consolidating the remote e-voting and voting at the ACM.

Thereafter the Moderator activated the InstaPoll facility to enable the members to cast their vote, who have not cast their votes earlier.

After the lnstaPoll the 43rd AGM was ended.

Thank you,

With regards,

For Deccan Cements Limited

Btlram Keshari Prusty Company Secretary

End: Chairperson's Speech

Chairperson's Speech

Dear Shareholders,

It gives me great pleasure in welcoming you to the 43rd Annual General Meeting of the Company.

With deep sorrow I regret to inform that our beloved founder, promoter and Chairman Sri M. B. Raju passed away on 19th June 2023. He was in the office on that day till 12:30 p.m. and had reviewed the progress of the ongoing expansion project. This is the first meeting of the Company without his presence. His love and affection and blessings will remain with us forever, guiding us to go forward and face the challenges and achieve all that he dearly wished for the company. We all will cherish his fond memories and will strive to fulfill his dreams for the company. We will miss him and pray that his soul attains peace. I am sure you will all encourage and support our endeavors to carry his legacy forward.

I now take this opportunity to brief you about the Company's performance during the Financial Year 2022-23.

During FY 2022-23, the company has shown a stable off take and decreased revenue when compared with previous financial year. Due to increase in the input (power and fuel) costs, the profit after tax during the year was low.

Performance of the Company in comparison to previous year is as under:

In continuation with your Company's policy of rewarding the shareholders, your Directors were happy to recommend a dividend of 75% i.e. Rs.3.75!- per share for FY 2022-23, which will be paid, once the members approve the proposed resolution.

Inspite of high input costs, the Company's performance was good during the first quarter of the current financial year, in comparison to performance in the industry.

The continuation of spending by the Governments on infrastructure projects, housing schemes under PM Awas Yojana, in FY 2023-24 will augur well for the demand of cement. In the budget of 2023-24, the Central Government has proposed to enhance the capital expenditure by 33 per cent for infrastructure development and establish infrastructure finance secretariat which will assist in attracting more private investment in infrastructure developments. Under the PM Gati Shakti Master Plan, 100 critical infrastructure gap projects have been prioritized for development in FY 2023-24. With multimodal infrastructure development, India's logistics cost will reduce further, and improve ease of doing business in the country. The continued emphasis on infrastructure projects is expected to lead to a very good demand for cement country wide.

As we informed earlier, the Company is undertaking the project for expansion of the production capacity by 2.2 Million Tons in the existing cement plant location. The estimated total project cost is Rs.1,218.61 Crores, out of which Rs.488.61 Crores (40.10%) will be allocated from internal accruals, and for the remaining Rs.730.00 Crores (59.90%) the company has already finalized and tied up with various banks and started drawing the required funds from the respective banks. The Civil work for the new cement production facility is expected to be completed in a couple of months, thereafter, mechanical work will start, and the entire project is expected to be completed by January 2025.

During FY 202 1-22, your Company had participated in the auction and successfully bid for the grant of Limestone Mining Lease in Rata Mandha, Jaisalmer District, Rajasthan. The Letter of Intent (LOI) was issued in March 2023. Your company is in the process of obtaining the statutory approvals required for the mining operations.

We remain dedicated and vigilant about the operations of your Company. We seek the cooperation from all the stakeholders involved. I express sincere appreciation to my colleagues on the Board, Management and Employees at all level for their valuable contributions. I thank Central and State Governments, Bankers, Business Associates, Customers and other Stakeholders for their support and cooperation. My sincere thanks to our shareholders. I look forward to your continued support.

Thank you. Hyderabad 22' September 2023

P. P. Parvathi Chairperson and Managing Director