Financial Results for quarter ended june 30, 2025
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Nilachal Refractories reported a net loss of Rs. 42.10 lakhs for Q1 FY26, narrower than the Rs. 1,998.57 lakh loss in Q4 FY25 which was driven by a one-time impairment of Rs. 1,933.88 lakhs on Capital Work in Progress. Revenue from operations stood at Rs. 19.96 lakhs, down sharply from Rs. 36.05 lakhs in the previous quarter but up from Rs. 15.89 lakhs in Q1 FY25. The company's total liabilities exceed its total assets, resulting in a negative net worth of Rs. 2,836.01 lakhs. The statutory auditor flagged a material uncertainty related to going concern and highlighted multiple issues including non-redemption of preference shares with unpaid cumulative dividends of Rs. 73.38 lakhs and a massive unpaid redemption premium of Rs. 32,665.97 lakhs on 0% preference shares. The Company Secretary and CFO both resigned citing personal reasons, with replacements appointed on August 14, 2025.
Highly negative — the company is in severe financial distress with negative net worth, persistent losses, and auditor-flagged going concern doubts, suggesting significant risk for shareholders. The unpaid preference share obligations run into tens of thousands of lakhs and could pose major future liabilities.