Nilachal Refractories Limited will hold a meeting of its Board of Directors on Tuesday, August 25, 2026. The session is scheduled to begin at 11:30 am at the company’s registered office in Kolkata.

Meeting Agenda

The primary objective of the gathering is to address statutory compliance matters related to the company’s annual cycle. The Board will consider and approve the following items:

• Notice and date for convening the Annual General Meeting (AGM).
• Appointment of a scrutinizer for the AGM.
• Any other matters permitted by the Chair.

Regulatory Disclosure

The intimation was issued pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The company notified both BSE Limited and CSE Limited of the scheduled proceedings.

Mr. Mukesh Kumar Shaw, Company Secretary & Compliance Officer, issued the communication on behalf of Nilachal Refractories Limited.

Nilachal Refractories Limited reported a net loss of ₹313.84 lakh for the quarter ended June 30, 2026, marking a significant widening from the ₹42.10 lakh loss recorded in the same period of FY25. The company’s financial performance was heavily impacted by non-recurring charges related to the winding down of its manufacturing business, which has been classified as discontinued operations.

Discontinued Operations Drive Losses

The primary driver of the quarterly loss was the remeasurement of assets held for sale. Following shareholder approval in May 2026 to sell the undertaking, the company classified its property, plant, and equipment as assets held for sale under Ind AS 105. Subsequent agreements with vendors led to a recognition of a ₹183.62 lakh loss on the measurement of the disposal group to fair value less cost to sell.

Additionally, the company recognized a ₹59.72 lakh write-down of inventories associated with the discontinued operations. These items combined resulted in a post-tax loss from discontinued operations of ₹258.38 lakh for the quarter, compared to a profit of ₹11.37 lakh in the preceding quarter ended March 31, 2026.

Continuing Operations Remain Under Pressure

From continuing operations, the company posted a loss before tax of ₹52.99 lakh, up from a loss of ₹36.36 lakh in Q1FY25. Total income from continuing operations stood at ₹15.23 lakh, comprising entirely of other income as revenue from operations remained nil. This contrasts with total expenses of ₹68.22 lakh, which included employee benefits of ₹3.74 lakh and finance costs of ₹20.92 lakh.

What the Numbers Show

The financial data reveals a stark divergence between operating income and expense structure in continuing operations. While other income surged to ₹15.23 lakh from ₹1.56 lakh year-on-year, it was insufficient to cover finance costs alone, which more than doubled to ₹20.92 lakh. This indicates that despite the cessation of revenue-generating activities, the cost of capital remains a significant drag on the balance sheet, contributing to the persistent operational losses even before accounting for the massive asset write-downs in discontinued segments.

Delisting Process Ongoing

Nilachal Refractories is currently in the process of delisting its equity shares from the BSE and CSE pursuant to an Open Offer-cum-Delisting Offer made by an acquirer. The acquisition and delisting are being conducted in accordance with the Companies Act, 2013, and SEBI (Delisting of Equity Shares) Regulations, 2021. The results were approved by the Board of Directors on June 8, 2026, and considered by the Audit Committee on August 14, 2026.