Appointment of Chief Financial Officer
Price
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Awaiting price reaction for this filing.
Nilachal Refractories' board, meeting on 14 August 2025, approved the unaudited financial results for Q1 FY26 (quarter ended 30 June 2025). The company reported a net loss of Rs. 42.10 lakhs versus a Rs. 132.82 lakhs loss in the year-ago quarter, on sharply lower revenue of Rs. 19.96 lakhs (vs Rs. 15.89 lakhs). The company's net worth remains deeply negative at Rs. (2,836.01) lakhs, and the auditors flagged a material uncertainty about the going-concern status. Separately, CFO Mr. Dukhabandhu Prusty resigned for personal reasons effective 14 August 2025, and Mr. Jugal Kumar Sharma was appointed as the new CFO on the same date. The Company Secretary, Mr. Sukomal Kanti Guha, also resigned effective 1 August 2025, with Mr. Vijay Kumar Gupta taking over from 14 August 2025.
Two key managerial personnel (CFO and Company Secretary) have been replaced in quick succession, while the company's negative net worth and ongoing losses raise serious going-concern doubts — a negative signal for shareholders already sitting on a heavily impaired stock.