Nilachal Refractories Reshuffles Leadership Amid Financial Challenges
Nilachal Refractories Ltd. reported significant leadership changes and financial results. The company appointed Mr. Vijay Kumar Gupta as Company Secretary & Compliance Officer and Mr. Jugal Kumar Sharma as CFO. Financial results for Q2 2025 show a net loss of Rs. 42.10 lakhs and a negative net worth of Rs. 2,836.01 lakhs. Auditors highlighted concerns about the company's ability to continue as a going concern. Management is seeking a strategic investor, planning diversification, and implementing cost reduction measures. A board meeting is scheduled for August 25, 2025, to discuss the Annual General Meeting and related matters.

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Nilachal Refractories Ltd. has announced significant changes in its leadership team alongside the release of its latest financial results, signaling a period of transition for the company.
Leadership Changes
The company's board meeting on August 14, 2025, saw multiple key personnel changes:
- Mr. Sukomal Kanti Guha resigned as Company Secretary & Compliance Officer, effective August 1, 2025, citing personal reasons.
- Mr. Vijay Kumar Gupta was appointed as the new Company Secretary & Compliance Officer.
- Mr. Dukhabandhu Prusty stepped down from his role as Chief Financial Officer (CFO).
- Mr. Jugal Kumar Sharma was named as the new CFO, effective August 14, 2025.
Financial Performance
Nilachal Refractories reported its unaudited standalone financial results for the quarter ended June 30, 2025:
Metric | Amount (Rs. in lakhs) |
---|---|
Net Loss | 42.10 |
Negative Net Worth | 2,836.01 |
Auditor's Review
The limited review report by M/s Jain Saraogi & Co. LLP, Chartered Accountants, highlighted material uncertainties regarding the company's ability to continue as a going concern. The auditors noted:
- The company's continued losses, with a net loss of Rs. 42.10 lakhs for the quarter ended June 30, 2025.
- Total liabilities exceeding total assets, leading to a negative net worth.
Management's Perspective
Despite the financial challenges, the management believes that Nilachal Refractories continues to be a going concern. The company is:
- Seeking a strategic investor to cope with the current situation.
- Planning to diversify into businesses that can be carried on in alignment with the industry it is operating in.
- Undertaking a plan to realize optimum utilization of its resources and cost reduction activities.
Looking Ahead
The board of directors has scheduled another meeting for August 25, 2025, to discuss and approve:
- The date of the Annual General Meeting for the Financial Year 2024-2025.
- Record Date and Book Closure Date for the ensuing AGM.
- Appointment of a scrutinizer for e-voting at the upcoming AGM.
These developments come at a crucial time for Nilachal Refractories as it navigates financial difficulties and implements strategic changes to improve its position in the market.
Note: This article is based on the company's official disclosures and does not include any forward-looking statements or predictions about the company's future performance.
Historical Stock Returns for Nilachal Refractories
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-2.20% | +2.35% | +2.96% | -11.37% | -21.49% | -11.11% |