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Nilachal Refractories has submitted its 48th Annual Report for FY 2024-25 along with the AGM notice. The 48th AGM is scheduled for Thursday, 25th September 2025 at 12:30 PM via video conferencing. The company's turnover collapsed to Rs. 1.06 crore from Rs. 3.14 crore in the previous year, and it posted a net loss of Rs. 22.01 crore versus Rs. 6.49 crore in FY24, with accumulated losses swelling to Rs. 61.95 crore. No dividend has been recommended due to carried-forward losses. The statutory auditor has issued a qualified opinion flagging concerns around CWIP impairment, employee benefit provisioning without Ind AS 19 actuarial valuation, redeemable preference shares, and going concern. The agenda includes re-appointment of director Mr. Vinay Agarwal and appointment of Ms. Twinkle Agarwal as Secretarial Auditor for five years at Rs. 10,000 per annum. Key managerial changes during the year included the resignation and replacement of both the Company Secretary and CFO.
Shareholders should note the sharply widening losses, qualified audit opinion with going-concern flags, and absence of any dividend. Book closure runs from 19th to 25th September 2025, with 18th September set as the cut-off date for e-voting eligibility, making this the AGM to watch for management's turnaround strategy.