OUTCOME OF BOARD MEETING HELD ON 27-05-2025 PURSUANT TO REGULATION 30 OF THE SEBI(LODR) REGULATION 2015.
Awaiting price reaction for this filing.
Burnpur Cement's Board met on 27 May 2025 and accepted the resignation of statutory auditors M/s Agarwal HP & Associates, who stepped down citing health issues that prevented them from completing the FY2024-25 audit. Because of this, the Board was unable to approve the Audited Financial Results for Q4 and FY ended 31 March 2025, as well as the Annual Financial Statement and Directors' Report. The company is now looking to appoint new statutory auditors at the earliest and will inform exchanges once a revised approval date is fixed. In other decisions, Ms. Punam Kumari Sharma was appointed as Company Secretary and Compliance Officer, M/s KRGB & Associates LLP was reappointed as Internal Auditor and M/s Som Das & Associates as Cost Auditor for FY2025-26, and M/s M & A Associates was recommended as Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30), pending shareholder approval.
The delayed approval of FY25 audited results is a negative signal — it means investors won't get verified annual numbers on time and the stock could face trading restrictions or higher scrutiny. The abrupt auditor exit, even if due to health reasons, adds uncertainty about the company's financial reporting and may weigh on sentiment in the near term.