Unaudited Financial Results for quarter ended june 30, 2025
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Awaiting price reaction for this filing.
Nilachal Refractories reported Q1 FY26 revenue from operations of Rs. 19.96 lakhs, up about 25.6% year-on-year from Rs. 15.89 lakhs but down sharply from Rs. 36.05 lakhs in the previous quarter. The company posted a net loss of Rs. 42.10 lakhs, smaller than the Rs. 136.45 lakh loss a year ago but still indicating weak operations with total expenses of Rs. 63.62 lakhs far exceeding income. The company's total liabilities exceed total assets, leaving a negative net worth of Rs. 2,836.01 lakhs. The auditor flagged a material uncertainty on the going concern assumption and noted unredeemed preference shares, including an unpaid redemption premium of Rs. 32,665.97 lakhs on 0% redeemable preference shares with no provision made. Separately, both the Company Secretary and CFO resigned citing personal reasons, with replacements appointed from August 14, 2025.
This is a deeply concerning filing for shareholders — the company is loss-making, has negative net worth, and the auditor has explicitly raised a going concern doubt. The massive unpaid redemption premium of over Rs. 326 crore represents a severe contingent liability overhang. The stock carries significant risk of further deterioration or corporate restructuring.