The Board of Directors of the Company at its meeting held today i.e., Tuesday, August 26, 2025, have approved the conversion of part of the unsecured loan alongwith accrued interest thereon payable by Vadraj Cement Limited, an unlisted wholly owned subsidiary ('Vadraj') to the Company, aggregating Rs. 5,08,65,47,940/- (Rupees Five Hundred and Eight Crores Sixty-Five Lakhs Forty Seven Thousand Nine Hundred and Forty only) into 50,86,54,794 equity shares of face value of Rs.10/- each fully paid up, at a fair value of Rs.10/-. Pursuant to the above conversion, the Company will continue to hold 100% of the paid-up equity share capital of Vadraj and the above new equity shares shall rank pari passu with the existing equity shares held by the Company.