CHANGE IN MANAGEMENT
Awaiting price reaction for this filing.
Burnpur Cement Limited held its Board Meeting on May 18, 2026, approving audited financial results for Q4 and FY ended March 2026. The company reported a massive net loss of Rs. 2074.12 lakhs for Q4 and Rs. 7923.86 lakhs for the full year, with no operational revenue since all assets were sold to UltraTech Cement in November 2023. The company has discontinued all operations and auditors have raised significant doubts about the company's ability to continue as a going concern. Mr. Pawan Pareek was redesignated from Executive Director & CFO to Whole-time Director & CFO for 2 years effective May 18, 2026. Internal auditors M/s KRGB & Associates LLP were reappointed for FY 2026-27. The company's negative equity stands at Rs. 57362.46 lakhs against total debt of Rs. 56257.45 lakhs.
The company is effectively a shell with no operations, massive losses, and negative shareholders' equity. The redesignation of Mr. Pawan Pareek is a routine internal promotion with no change in actual leadership, and should not be viewed as a positive development given the company's distressed financial position.