Announcement • May 30
Nilachal Refractories Limited Announces Appointment of Mukesh Kumar Shaw as Company Secretary and Compliance Officer, Effective June 1, 2026 Nilachal Refractories Limited held a board meeting on May 29, 2026, and approved the appointment of Mr. Mukesh Kumar Shaw as Company Secretary and Compliance Officer of the Company with effect from June 1, 2026. Mr. Mukesh Kumar Shaw is an Associate Member of the Institute of Company Secretaries of India having Membership No. ACS:80201. He holds a B Com degree as well as NSE’s Certificate Course on Capital Market. He possesses experience in the field of corporate laws and secretarial compliances. He has previously worked with S K Maheshwari & Associates, as Management Trainee. Reported Earnings • Apr 20
Full year 2026 earnings released: ₹2.38 loss per share (vs ₹10.81 loss in FY 2025) Full year 2026 results: ₹2.38 loss per share (improved from ₹10.81 loss in FY 2025). Revenue: ₹23.8m (up 152% from FY 2025). Net loss: ₹48.5m (loss narrowed 78% from FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Apr 15
Nilachal Refractories Limited to Report Q4, 2026 Results on Apr 18, 2026 Nilachal Refractories Limited announced that they will report Q4, 2026 results at 3:30 PM, Indian Standard Time on Apr 18, 2026 Buy Or Sell Opportunity • Mar 27
Now 24% undervalued Over the last 90 days, the stock has risen 29% to ₹51.50. The fair value is estimated to be ₹67.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has declined by 86%. Announcement • Mar 12
Sfal Speciality Alloys Limited entered into a Share Purchase Agreement to acquire 70.61% stake in Nilachal Refractories Limited (BSE:502294) from a group of shareholders for approximately INR 290 million. Sfal Speciality Alloys Limited entered into a Share Purchase Agreement to acquire 70.61% stake in Nilachal Refractories Limited (BSE:502294) from a group of shareholders for approximately INR 290 million on March 11, 2026. A cash consideration valued at INR 20 per share will be paid by Sfal Speciality Alloys Limited. In an related transaction Sfal Speciality Alloys Limited proposed to acquire 29.39% stake in Nilachal Refractories Limited.
The transaction is subject to approval by the shareholders of Nilachal Refractories Limited, the Stock Exchanges have granted their in-principle approval to the delisting of Nilachal Refractories Limited Reported Earnings • Jan 25
Third quarter 2026 earnings released: ₹1.73 loss per share (vs ₹0.16 loss in 3Q 2025) Third quarter 2026 results: ₹1.73 loss per share (further deteriorated from ₹0.16 loss in 3Q 2025). Net loss: ₹35.3m (loss widened ₹32.1m from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • Jan 19
Nilachal Refractories Limited to Report Q3, 2026 Results on Jan 24, 2026 Nilachal Refractories Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Jan 24, 2026 Reported Earnings • Nov 16
Second quarter 2026 earnings released: ₹0.27 loss per share (vs ₹0.21 loss in 2Q 2025) Second quarter 2026 results: ₹0.27 loss per share (further deteriorated from ₹0.21 loss in 2Q 2025). Net loss: ₹5.40m (loss widened 24% from 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Announcement • Nov 04
Nilachal Refractories Limited to Report Q2, 2026 Results on Nov 14, 2025 Nilachal Refractories Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Aug 26
Nilachal Refractories Limited, Annual General Meeting, Sep 25, 2025 Nilachal Refractories Limited, Annual General Meeting, Sep 25, 2025, at 12:30 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released: ₹0.21 loss per share (vs ₹0.65 loss in 1Q 2025) First quarter 2026 results: ₹0.21 loss per share (improved from ₹0.65 loss in 1Q 2025). Net loss: ₹4.21m (loss narrowed 68% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Aug 05
Nilachal Refractories Limited to Report Q1, 2026 Results on Aug 14, 2025 Nilachal Refractories Limited announced that they will report Q1, 2026 results on Aug 14, 2025 New Risk • Jul 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹14m free cash flow). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Negative equity (-₹279m). Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m (₹9.5m revenue, or US$110k). Market cap is less than US$10m (₹834.8m market cap, or US$9.75m). Reported Earnings • Jun 02
Full year 2025 earnings released: ₹10.81 loss per share (vs ₹3.19 loss in FY 2024) Full year 2025 results: ₹10.81 loss per share (further deteriorated from ₹3.19 loss in FY 2024). Net loss: ₹220.2m (loss widened 239% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Announcement • May 22
Nilachal Refractories Limited to Report Q4, 2025 Results on May 30, 2025 Nilachal Refractories Limited announced that they will report Q4, 2025 results on May 30, 2025 New Risk • Mar 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹855.2m (US$9.79m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹5.9m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-₹77m). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m (₹10m revenue, or US$117k). Market cap is less than US$10m (₹855.2m market cap, or US$9.79m). Reported Earnings • Feb 07
Third quarter 2025 earnings released: ₹0.16 loss per share (vs ₹0.08 loss in 3Q 2024) Third quarter 2025 results: ₹0.16 loss per share (further deteriorated from ₹0.08 loss in 3Q 2024). Net loss: ₹3.19m (loss widened 102% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Jan 31
Nilachal Refractories Limited to Report Q3, 2025 Results on Feb 06, 2025 Nilachal Refractories Limited announced that they will report Q3, 2025 results on Feb 06, 2025 Announcement • Dec 15
Nilachal Refractories Limited Approves the Appointment of Sukomal Kanti Guha as Company Secretary and Compliance Officer Nilachal Refractories Limited at its board meeting held on 9 December 2024, approved the appointment of Mr. Sukomal Kanti Guha as Company Secretary and Compliance Officer of the Company with effect from 9 December 2024. Mr. Sukomal Kanti Guha is a fellow member of the Institute of Company Secretaries of India. Reported Earnings • Nov 20
Second quarter 2025 earnings released: ₹0.21 loss per share (vs ₹0.08 loss in 2Q 2024) Second quarter 2025 results: ₹0.21 loss per share (further deteriorated from ₹0.08 loss in 2Q 2024). Net loss: ₹4.35m (loss widened 161% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Nov 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹3.4m free cash flow). Negative equity (-₹59m). Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m (₹10m revenue, or US$124k). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (₹873.1m market cap, or US$10.3m). Announcement • Nov 08
Nilachal Refractories Limited to Report Q2, 2025 Results on Nov 14, 2024 Nilachal Refractories Limited announced that they will report Q2, 2025 results on Nov 14, 2024 New Risk • Oct 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹823.4m (US$9.79m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹3.4m free cash flow). Negative equity (-₹59m). Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m (₹10m revenue, or US$124k). Market cap is less than US$10m (₹823.4m market cap, or US$9.79m). Announcement • Sep 11
Nilachal Refractories Limited, Annual General Meeting, Sep 28, 2024 Nilachal Refractories Limited, Annual General Meeting, Sep 28, 2024, at 12:30 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2025 earnings released: ₹0.65 loss per share (vs ₹0.06 loss in 1Q 2024) First quarter 2025 results: ₹0.65 loss per share (further deteriorated from ₹0.06 loss in 1Q 2024). Net loss: ₹13.3m (loss widened ₹12.1m from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Aug 08
Nilachal Refractories Limited Announces Resignation of Ashish Kumar Bhalotia as Company Secretary & Compliance Officer Nilachal Refractories Limited announced that Ashish Kumar Bhalotia, has been resigned as Company Secretary & Compliance Officer of the Company, which is taken on record and subject to approval by the board. Date of resignation: August 8, 2024. Announcement • Aug 07
Nilachal Refractories Limited to Report Q1, 2025 Results on Aug 14, 2024 Nilachal Refractories Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Announcement • May 23
Nilachal Refractories Limited to Report Q4, 2024 Results on May 30, 2024 Nilachal Refractories Limited announced that they will report Q4, 2024 results on May 30, 2024 Reported Earnings • Feb 16
Third quarter 2024 earnings released: ₹0.08 loss per share (vs ₹0.10 loss in 3Q 2023) Third quarter 2024 results: ₹0.08 loss per share (improved from ₹0.10 loss in 3Q 2023). Net loss: ₹1.58m (loss narrowed 23% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year. New Risk • Feb 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹790.2m (US$9.52m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹2.1m free cash flow). Earnings have declined by 1.8% per year over the past 5 years. Revenue is less than US$1m (₹11m revenue, or US$133k). Market cap is less than US$10m (₹790.2m market cap, or US$9.52m). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Feb 04
Nilachal Refractories Limited to Report Q3, 2024 Results on Feb 13, 2024 Nilachal Refractories Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Announcement • Jan 25
Nilachal Refractories Limited Announces Resignation of Bikash Ranjan Nayak as Chief Financial Officer Nilachal Refractories Limited informed that Bikash Ranjan Nayak, has been resigned as Chief Financial Officer of the Company, which is taken on record and subject to approval by the board. Date of Resignation: 24 January 2024. Reported Earnings • Nov 18
Second quarter 2024 earnings released: ₹0.08 loss per share (vs ₹0.17 loss in 2Q 2023) Second quarter 2024 results: ₹0.08 loss per share (improved from ₹0.17 loss in 2Q 2023). Net loss: ₹1.67m (loss narrowed 51% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 01
Nilachal Refractories Limited Announces Resignation of Sanjib Singh as Company Secretary and Compliance Officer Nilachal Refractories Limited announced that the resignation of Company Secretary and Compliance Officer Mr. Sanjib Singh due to some unforeseen and unavoidable personal circumstances. Date of Resignation is on 31 August 2023. New Risk • Aug 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.9% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (₹16m revenue, or US$190k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (₹874.1m market cap, or US$10.5m). New Risk • Aug 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (₹16m revenue, or US$189k). Minor Risk Market cap is less than US$100m (₹861.9m market cap, or US$10.4m). Announcement • Aug 08
Nilachal Refractories Limited to Report Q1, 2024 Results on Aug 14, 2023 Nilachal Refractories Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Announcement • Jul 13
Nilachal Refractories Limited to Report Fiscal Year 2023 Results on Aug 21, 2023 Nilachal Refractories Limited announced that they will report fiscal year 2023 results on Aug 21, 2023 Announcement • May 23
Nilachal Refractories Limited to Report Q4, 2023 Results on May 30, 2023 Nilachal Refractories Limited announced that they will report Q4, 2023 results on May 30, 2023 Reported Earnings • Feb 15
Third quarter 2023 earnings released: ₹0.10 loss per share (vs ₹0.098 loss in 3Q 2022) Third quarter 2023 results: ₹0.10 loss per share (further deteriorated from ₹0.098 loss in 3Q 2022). Net loss: ₹2.05m (loss widened 1.8% from 3Q 2022). Announcement • Feb 05
Nilachal Refractories Limited to Report Q3, 2023 Results on Feb 14, 2023 Nilachal Refractories Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: ₹0.17 loss per share (vs ₹0.05 profit in 2Q 2022) Second quarter 2023 results: ₹0.17 loss per share (down from ₹0.05 profit in 2Q 2022). Net loss: ₹3.40m (down 437% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 2% per year. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Non Executive Non Independent Director Vinay Agarwal was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 07
First quarter 2023 earnings released: ₹0.15 loss per share (vs ₹0.13 loss in 1Q 2022) First quarter 2023 results: ₹0.15 loss per share (further deteriorated from ₹0.13 loss in 1Q 2022). Net loss: ₹3.12m (loss widened 20% from 1Q 2022). Announcement • Sep 07
Nilachal Refractories Limited, Annual General Meeting, Sep 28, 2022 Nilachal Refractories Limited, Annual General Meeting, Sep 28, 2022. Reported Earnings • Jun 03
Full year 2022 earnings released: ₹0.82 loss per share (vs ₹1.25 loss in FY 2021) Full year 2022 results: ₹0.82 loss per share (up from ₹1.25 loss in FY 2021). Net loss: ₹16.6m (loss narrowed 35% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 12% per year. Announcement • May 21
Nilachal Refractories Limited to Report Q4, 2022 Final Results on May 30, 2022 Nilachal Refractories Limited announced that they will report Q4, 2022 final results on May 30, 2022 Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Non Executive Non Independent Director Vinay Agarwal was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 06
Nilachal Refractories Limited Appoints Sanjib Singh as Company Secretary & Compliance Officer Nilachal Refractories Limited approved the appointment of Sanjib Singh as Company Secretary & Compliance Officer of the Company, at its Board of Directors meeting held on April 04, 2022 with effect from April 04, 2022. Announcement • Feb 18
Nilachal Refractories Limited Announces Resignation of Alok Sharma as Company Secretary / Compliance Officer, Effective 22 February 2022 Nilachal Refractories Limited announced Alok Sharma resigned as Company Secretary /Compliance Officer with effect from close of thebusiness hours of 22 February 2022. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹0.10 loss per share (down from ₹0.08 loss in 3Q 2021). Net loss: ₹2.01m (loss widened 18% from 3Q 2021). Revenue was in line with analyst estimates. Announcement • Feb 08
Nilachal Refractories Limited to Report Q3, 2022 Results on Feb 14, 2022 Nilachal Refractories Limited announced that they will report Q3, 2022 results on Feb 14, 2022 Reported Earnings • Aug 20
First quarter 2022 earnings released: ₹0.13 loss per share (vs ₹0.09 loss in 1Q 2021) First quarter 2022 results: Net loss: ₹2.60m (loss widened 50% from 1Q 2021). Reported Earnings • Jul 03
Full year 2021 earnings released: ₹1.25 loss per share (vs ₹0.73 loss in FY 2020) Full year 2021 results: Net loss: ₹25.5m (loss widened 72% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 2% per year. Is New 90 Day High Low • Feb 23
New 90-day low: ₹26.15 The company is down 40% from its price of ₹43.50 on 25 November 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 22% over the same period. Reported Earnings • Feb 15
Third quarter 2021 earnings released: ₹0.08 loss per share (vs ₹0.16 loss in 3Q 2020) Third quarter 2021 results: Net loss: ₹1.70m (loss narrowed 48% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jan 28
Nilachal Refractories Limited to Report Q3, 2021 Results on Feb 11, 2021 Nilachal Refractories Limited announced that they will report Q3, 2021 results on Feb 11, 2021 Announcement • Dec 02
Nilachal Refractories Limited, Annual General Meeting, Dec 28, 2020 Nilachal Refractories Limited, Annual General Meeting, Dec 28, 2020. Reported Earnings • Sep 19
First quarter earnings released Over the last 12 months the company has reported total losses of ₹12.4m, with losses narrowing by 38% from the prior year.