Board Meeting Details
The Board of Directors meeting was held on 11th November, 2026, commencing at 3:30 PM and concluding at 4:20 PM.
Key Agenda Items Approved
1. Unaudited Standalone Financial Results: The Board considered and approved the unaudited standalone financial results along with the auditors' limited review report for the quarter and half year ended 30th September 2026.
2. Debt Assignment Notification: The Board was apprised of and took note of an intimation dated November 10, 2026, from UV Asset Reconstruction Company Limited stating that it had reassigned/transferred the debts of Burnpur Cement Limited, together with all underlying securities and associated rights, in favour of CFM Asset Reconstruction Private Limited. The Company will undertake necessary consequential changes in its records.
Financial Results Overview (₹ in Lakhs)
Quarter Ended 30th September 2026:
- Total Income: ₹0.18
- Total Expenses: ₹2,231.60
- Loss Before Tax: ₹(2,231.42)
- Tax Expense: ₹(0.22)
- Loss for the Period: ₹(2,231.42)
- Basic EPS: ₹(12.95)
- Diluted EPS: ₹(12.95)
Half Year Ended 30th September 2026:
- Total Income: ₹0.18
- Total Expenses: ₹4,388.21
- Loss Before Tax: ₹(4,388.03)
- Tax Expense: ₹(0.45)
- Loss for the Period: ₹(4,388.03)
- Basic EPS: ₹(25.47)
- Diluted EPS: ₹(25.47)
Financial Position (as at 30th September 2026)
- Total Assets: ₹203.26 lakh
- Total Equity: ₹(61,750.49) lakh (negative)
- Total Liabilities: ₹61,953.75 lakh
- Borrowings: ₹60,692.38 lakh
- Cash and Cash Equivalents: ₹76.26 lakh
Operational Highlights
- The company had no revenue during the quarter as its entire immovable and movable operational assets at Patratu were sold to Ultratech Cement Limited on November 29, 2023, by UV ARC under the Securitisation Act.
- The major component of loss includes finance cost of ₹2,196.01 lakh for the quarter.
- Other income of ₹0.18 lakh comprised interest earned on a matured bank deposit of ₹0.77 lakh, which was originally created as security against a bank guarantee for EPF.
Capital Structure
- Paid-up equity share capital: ₹1,722.49 lakh (face value ₹10 each)
- The capital was reduced vide NCLT order No. C.P. NO. 1065/KB/2020 dated 30th October 2024, registered with ROC on 13th January 2025.
Going Concern Assessment
The management has concluded that the company is not reasonably likely to meet its obligations in the normal course of business over the next 12 months as it has no functional production unit. The management is exploring opportunities for mergers, acquisitions, or other strategic transactions.
Auditor's Review
Bhagi Bhardwaj Gaur & Co., Chartered Accountants, issued a limited review report with an Emphasis of Matter paragraph highlighting:
- Significant doubt on the company's ability to continue as a going concern
- Cash of ₹22.90 lakh pertaining to Asansol Unit lying idle for over 3 years
- Several ongoing direct and indirect tax litigations with unascertainable impact
- No operational units as of 30th September 2026
The financial results have been prepared in accordance with Ind AS and comply with SEBI Listing Regulations.