Appointment of Company Secretary
Price
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Awaiting price reaction for this filing.
Nilachal Refractories reported its Q1 FY26 (quarter ended June 30, 2025) unaudited results with total income of Rs. 21.52 lakhs and a net loss of Rs. 42.10 lakhs. The company's net worth remains deeply negative at minus Rs. 2,836.01 lakhs, and the auditor has flagged a material uncertainty about its ability to continue as a going concern, noting cumulative unpaid preference share dividends and premiums running into thousands of lakhs. Company Secretary Mr. Sukomal Kanti Guha resigned effective August 1, 2025, and CFO Mr. Dukhabandhu Prusty resigned effective August 14, 2025, both citing personal reasons. In their place, Mr. Vijay Kumar Gupta has been appointed as Company Secretary and Mr. Jugal Kumar Sharma as CFO, both effective August 14, 2025.
For shareholders, this is a deeply concerning filing: the company is loss-making with negative net worth, the auditor has raised a going concern doubt, and both the CS and CFO have exited in quick succession. The simultaneous change of two key managerial personnel during a financial crisis adds governance risk for retail investors.