Nilachal refractories Limited has announced that its Board of Directors will convene on January 24, 2026, to review and approve the company's unaudited financial results for the third quarter of fiscal year 2026. The meeting is scheduled to take place at 4:00 PM at the company's office located at 30 D, J.L. Nehru Road, Kolkata, West Bengal.

Meeting Details and Agenda

The board meeting has been formally notified to BSE Limited in accordance with Regulation 29 of SEBI (Listing Obligations and Disclosures Requirements). The company issued the notice on January 19, 2026, providing the mandatory advance notification to stakeholders.

Key Agenda Items

The board will primarily focus on two main agenda items during the meeting:

• Financial Results Review: Consideration and approval of unaudited financial results for the third quarter ended December 2025
• Additional Matters: Any other business matters that may be taken up with the permission of the Chair

Regulatory Compliance

The announcement demonstrates Nilachal Refractories Limited's adherence to corporate governance norms and regulatory requirements. The notice was signed by Vijay Kumar Gupta, Company Secretary and Compliance Officer (Membership No. 34197), ensuring proper authorization and compliance with statutory obligations.

The company operates under CIN L26939OR1977PLC000735 and maintains its registered office at Flat No. 23, 3rd Floor, Block 'D' Chowringhee Mansion, 30 J N Road, Kolkata. Stakeholders and investors will await the outcome of this board meeting for insights into the company's third-quarter performance for fiscal year 2026.

Nilachal Refractories Limited , a company listed on the BSE, has released its unaudited financial results for the quarter and half year ended September 30, 2025, revealing significant financial challenges and compliance issues.

Financial Performance

The company reported a net loss of Rs 96.06 lakhs for the period, accompanied by a negative net worth of Rs 2,889.97 lakhs. These figures paint a concerning picture of the company's financial health, raising questions about its operational viability.

Going Concern Uncertainty

The financial results have brought to light material uncertainty regarding Nilachal Refractories' ability to continue as a going concern. This uncertainty stems from the company's total liabilities exceeding its total assets, a situation that typically indicates severe financial distress.

Compliance Issues

Adding to the company's challenges, auditors have highlighted multiple compliance issues:

1. Unauthorized inter-corporate deposits
2. Overdue preference share redemptions

These compliance concerns not only reflect potential governance issues but may also have legal and regulatory implications for the company.

Board Meeting and Result Approval

According to the LODR (Listing Obligations and Disclosure Requirements) data:

• The Board of Directors met on November 14, 2025, to approve the unaudited standalone financial results.
• The Audit Committee recommended the financial results, which were subsequently approved by the Board.
• M/s Jain Saraogi & Co. LLP, Chartered Accountants (Firm Registration No. 305004E), the company's statutory auditors, issued a Limited Review Report on the results.
• The Board meeting commenced at 4:00 PM and concluded at 6:15 PM.

Implications and Outlook

The combination of significant losses, negative net worth, and compliance issues presents a challenging scenario for Nilachal Refractories. These factors may impact investor confidence and potentially affect the company's relationships with creditors, suppliers, and other stakeholders.

Investors and market observers will likely be watching closely for any strategic moves or restructuring efforts the company might undertake to address its financial and compliance challenges.