Burnpur Cement Limited has informed the Exchange regarding Change in Auditors of the company.
Awaiting price reaction for this filing.
Burnpur Cement Limited's Board meeting on 18 May 2026 approved audited financial results for Q4 and FY ended March 2026, reporting a net loss of Rs 2,074.12 lakh for the quarter and Rs 7,921.62 lakh for the full year. The company has zero operational revenue as all assets at Patratu were sold to Ultratech Cement via an SARFAESI auction in November 2023, and operations were discontinued entirely. The statutory auditor Bhagi Bhardwaj Gaur & Co. issued an unmodified opinion but included an emphasis of matter paragraph raising significant doubts about the company's ability to continue as a going concern. Negative equity stands at Rs -57,362.46 lakh and total borrowings stand at Rs 56,257.45 lakh. Additionally, Mr. Pawan Pareek was redesignated from Executive Director cum CFO to Whole-time Director cum CFO for 2 years, and M/s KRGB & Associates LLP was reappointed as Internal Auditors for FY 2026-27.
Shareholders face extreme risk as the company has no operating units, no revenue, massive negative equity of Rs -57,362 lakh, and borrowings of Rs 56,257 lakh. The management is exploring merger or acquisition opportunities but no concrete revival plan is in place. The stock carries severe distress risk.