CMP: ₹868.00 | -0.76% Today
✍️ By Prashant Marathe | Published: May 27, 2025
📍 At a Glance
JK Lakshmi Cement’s board met on May 27 and approved a trio of governance moves — appointment of a new statutory auditor, a new secretarial auditor, and re-appointment of Independent Director Shri Sadhu Ram Bansal. It’s clean, compliant, and corporate — but hey, where’s the cement action?
No bonus, no buyback, no blockbuster — just a quiet reshuffle of the people who sign the paperwork.
🧾 What Did the Board Approve?
| 📋 Item | 🆕 Update |
|---|---|
| Statutory Auditor | ✅ M/s Lodha & Co LLP for FY26–FY30 |
| Secretarial Auditor | ✅ M/s Ronak Jhuthawat & Co. for FY26–FY30 |
| Independent Director | 🔁 Shri Sadhu Ram Bansal reappointed for 2nd term (2025–2030) |
| Old Auditor Retired | 👋 S.S. Kothari Mehta & Co., completed 2 terms |
🧠 EduInvesting Take: Governance is Sexy (Said No One Ever)
This update is squeaky clean from a regulatory standpoint. But let’s break the facade:
- Lodha & Co LLP is a legendary CA firm — 80+ years old, with clientele ranging from Maharatnas to PSU banks to PCAOB-covered US subsidiaries. Great credentials, but not necessarily game-changing.
- Ronak Jhuthawat & Co. is a rising legal-compliance star. Having 21 qualified Company Secretaries in-house is no joke — these folks will sniff out a compliance irregularity before your intern even downloads the ROC form.
- Shri Sadhu Ram Bansal’s reappointment continues the classic playbook — hire ex-PSU pros with credibility and zero controversy. No SEBI bars, no shady background.
But… is this a corporate facelift, or an actual growth strategy?
📉 Market Reaction
The stock dropped 0.76% to ₹868 post-announcement. Clearly, the Street wasn’t expecting fireworks — and got a clean audit trail instead.
💬 “Investors don’t clap for good governance. They clap for bonus issues.” – EduInvesting Gyaan
🧾 Who is Lodha & Co LLP?
Founded in 1941 (yep, before India had independence), Lodha & Co LLP is among India’s oldest audit firms.
| 📌 Details |
|---|
| HQ |
| Branches |
| Strength |
| Credentials |
| Big Clients |
Basically, these folks audit half of India’s state-owned economy.
🧾 Who is Ronak Jhuthawat & Co.?
Not as old, but aggressively expanding — this firm is a go-to for complex compliance work:
| 📌 Details |
|---|
| HQ |
| Strength |
| Focus Areas |
| Known For |
While Lodha deals in financial numbers, Ronak Jhuthawat & Co. deals in regulatory landmines. JK Lakshmi now has both flanks covered.
🧱 But What About the Core Business?
- No mention of capacity expansion
- No mention of margin guidance
- No updates on pricing pressure, fuel cost impact, or new plants
- No bonus, buyback, or special dividend
🧾 This was strictly a governance housekeeping meeting, not a business bombshell.
📦 Final Thought
“JK Lakshmi is not just cementing homes — it’s cementing compliance.”
And that’s great. But if you’re a shareholder, you don’t dream of audit reports — you dream of volume growth, EBITDA margins, and crushing UltraTech someday.
Until then, enjoy the governance — and maybe go read a SEBI circular for fun.
🏷️ Tags: JK Lakshmi Cement, FY25 governance update, new auditor Lodha & Co LLP, Ronak Jhuthawat & Co., Sadhu Ram Bansal reappointment, NSE: JKLAKSHMI, EduInvesting, cement stocks, compliance updates
