Date and Nature of Communication

Burnpur Cement Limited responded to the National Stock Exchange of India Limited (NSE) on 18-June-2026 regarding the exchange's email dated 16th June 2026. The query pertained to deficiencies observed in the outcome of the Board meeting held on 18th May 2026 regarding the Financial Results for the quarter and year ended 31st March 2026.

Company's Clarification on Trading Volume and Financial Results

While the document does not specifically address trading volume discrepancies, it provides detailed clarifications regarding deficiencies in the financial results submission:

Query 1: Financial results submitted is not as per format prescribed by SEBI - balancing figure note missing

  • The company acknowledged that balancing figure notes required by Regulation 33 of SEBI (LODR) Regulations 2015 were inadvertently omitted due to clerical oversight
  • Revised notes have been incorporated, including Note No. 9 which states: "The figures of the last quarter 31st March 2026 are the balancing figures between the audited figures in respect of full financial year ended March 31, 2026 and the published year to date figures up to the quarter ended December 31, 2025"

Query 2: Ratio details not mentioned in XBRL

  • Ratio details were inadvertently missed in XBRL filing due to clerical oversight during the filing process
  • The XBRL file was successfully validated, which prevented identification of the missing information during validation
  • The company is submitting revised XBRL filing containing the requisite ratio details

The company has strengthened its internal review and verification process to avoid recurrence of such inadvertent omissions.

Regulatory Compliance Reference

The clarification explicitly references compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also references Regulation 33(3)(d) in its declaration that statutory auditors issued an unmodified opinion on the audited financial results.

Details of Financial Results Clarification

The financial results reveal significant operational challenges:

Operational Status:

  • The company discontinued operations entirely in November 2023 after incurring continuous losses
  • UV Asset Reconstruction Company Limited sold the entire immovable and movable operational assets at Patratu to Ultratech Cement Limited on 29-November-2023
  • The company has no functional production unit as of 31-March-2026
  • Cash in hand aggregating to ₹22.90 lakhs pertaining to Asansol Unit has been lying idle for more than 3 years

Financial Performance (Year Ended 31-Mar-2026):

  • Total Income: ₹165.09 lakhs (entirely from Other Income)
  • Total Expenses: ₹7,923.86 lakhs
  • Finance Cost: ₹7,702.51 lakhs (major component)
  • Employee Benefit Expenses: ₹121.37 lakhs
  • Other Expenditure: ₹96.27 lakhs
  • Net Loss: ₹7,923.86 lakhs before tax
  • Earnings Per Share: (₹45.99) basic and diluted

Balance Sheet Position (31-Mar-2026):

  • Total Assets: ₹207.95 lakhs
  • Equity: Negative ₹57,362.46 lakhs
  • Current Liabilities: ₹57,537.76 lakhs
  • Borrowings: ₹56,297.45 lakhs
  • Trade Payables: ₹69.23 lakhs

Key Ratios:

  • Interest Coverage Ratio: -34.81 times (improved from -135.71 times in previous year)
  • Current Ratio: 0.002 times (0.003 times in previous year)
  • Debt Equity Ratio: -0.98 times (unchanged from previous year)
  • All turnover ratios (Debtors, Inventory) are nil due to no operational revenue

Auditor's Emphasis of Matter:

The auditor highlighted significant doubts about the company's ability to continue as a going concern. The management has ascertained that the company is not a going concern as it is not reasonably likely to meet its obligations in the normal course of business over the next 12 months. Necessary adjustments required on the carrying amount of assets and liabilities are not ascertainable at this stage.

Capital Reduction:

The company underwent a scheme of arrangement for reduction of share capital approved by NCLT, Kolkata on 30-October-2024. The share capital was reduced from ₹86,12,43,630 (8,61,24,363 equity shares of ₹10 each) to ₹17,22,48,730 (1,72,24,873 equity shares of ₹10 each). The company has applied for trading approval of the reduced shares with both stock exchanges, with approvals awaited.

Topic Tags: Regulatory Response, Financial Results Clarification, Going Concern Issues, Operational Discontinuation, Capital Reduction, SEBI Compliance

Note: The company mentioned exploring opportunities for mergers, acquisitions, or other strategic transactions to restore going concern status, but provided no specific details or timelines.