Pursuant to regulation 33 of SEBI LODR 2015 audited financial result for quarter ending march 2025 and year ending 2024-25

Going-concern doubtQualified audit opinionEmphasis of matterRevenue declinedNet loss reportedEBITDA margin compressionResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-3.8%Reaction day

₹43.39

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-3.9% vs market

Electrodes & Refractories peers, median of 10sector-0.2%-3.6% vs sector

On the reaction day the stock moved 3.9 pts less than Nifty Microcap 250 and 3.6 pts less than its Electrodes & Refractories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Electrodes & Refractories peers, median of 10Pending

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AI summary

Nilachal Refractories Ltd reported audited results for FY25 with a net loss of Rs. 2,201.77 lakhs, sharply wider than the Rs. 649.66 lakhs loss in FY24. Total income collapsed to Rs. 106.45 lakhs from Rs. 314.91 lakhs, a roughly 66% year-on-year decline. The company booked an exceptional impairment loss of Rs. 1,933.88 lakhs on long-stagnant Capital Work-in-Progress (CWIP), reducing CWIP from Rs. 3,147.04 lakhs to Rs. 939.27 lakhs. Net worth turned deeply negative at Rs. (2,793.91) lakhs versus Rs. (592.13) lakhs a year earlier, and current liabilities exceed current assets by Rs. 1,257 lakhs. The auditor (Jain Saraogi & Co LLP) issued a Qualified Opinion citing three issues — questionable CWIP valuation, missing actuarial valuation for employee benefits, and unprovided redemption premium and cumulative dividends on preference shares. Operating cash flow was negative at Rs. (115.19) lakhs.

Likely market impact

This is a deeply negative filing: qualified audit opinion, material going-concern uncertainty, ballooning losses, wiped-out net worth, and a collapsing top line signal serious financial distress. Shareholders should view this as a high-risk situation where the company's ability to continue operations is in significant doubt.