Outcome of Board Meeting held on 13.08.2025
Awaiting price reaction for this filing.
The Board of Hemadri Cements Ltd met on 13 August 2025 and approved the unaudited financial results for the quarter ended 30 June 2025. The company is now in voluntary liquidation with effect from 14 July 2025, after shareholders approved the process under the Insolvency and Bankruptcy Code, 2016. Manufacturing operations had already been stopped in August 2024 due to continuous spiralling costs and operational losses since FY 2022-23. A liquidator has been appointed and the valuation of assets is currently in progress. The statutory auditor issued an Emphasis of Matter note flagging the liquidation process and the uncertainty around asset realisable values, while still preparing accounts on a going concern basis.
This is effectively a wind-down announcement — shareholders face the risk of receiving only whatever asset realisable value remains after settling creditors, and trading in this stock is likely highly speculative given the liquidation status. The going concern assumption maintained by the auditor despite liquidation creates uncertainty about the true value recoverable for equity holders.