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BURNPUR - Burnpur Cement

📊 NSE: BURNPUR 🏢 Cement - North India 📅 Last Updated: 12/13/2025 20:02

📢 Recent Corporate Announcements

Burnpur Cement Executive Director Indrajeet Kumar Tiwary Resigns Effective April 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 27 Apr 2026, 06:44 PM

Burnpur Cement Limited has announced the resignation of Mr. Indrajeet Kumar Tiwary from his position as Whole-time Director, effective April 27, 2026. The resignation is attributed to personal reasons, and the director has confirmed there are no other material factors involved. To maintain governance continuity, the Board has immediately reconstituted the Stakeholders Relationship Committee by inducting Executive Director Mr. Pawan Pareek. This transition appears to be a routine administrative change with no immediate impact on operations.

Mr. Indrajeet Kumar Tiwary resigned as Whole-time Director and committee member effective April 27, 2026.
The company cited personal reasons for the resignation with no other material reasons disclosed.
Mr. Pawan Pareek (DIN 07125401) was inducted into the Stakeholders Relationship Committee as a replacement.
The reconstituted committee now consists of Ram Narain (Chairperson), Rajesh Sharma, and Pawan Pareek.

💡 No immediate action is required as the vacancy in the board committee was filled promptly. Investors should continue to monitor for any further management churn that could signal underlying issues.

Burnpur Cement Announces Resignation of Whole-time Director Indrajeet Kumar Tiwary

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 27 Apr 2026, 06:40 PM

Burnpur Cement Limited has informed the exchanges that Mr. Indrajeet Kumar Tiwary has resigned from his position as Whole-time Director effective April 27, 2026. The resignation, cited for personal reasons, also includes his departure from the Stakeholders Relationship Committee. To maintain governance, the company has immediately reconstituted the committee by inducting Executive Director Mr. Pawan Pareek. The company confirmed that there are no other material reasons for this sudden management change.

Mr. Indrajeet Kumar Tiwary resigned as Whole-time Director effective close of business hours on April 27, 2026
The Stakeholders Relationship Committee was reconstituted with Mr. Pawan Pareek (DIN 07125401) as a new member
The outgoing director confirmed there are no material reasons for resignation other than personal ones
The new committee composition includes Ram Narain as Chairperson and Rajesh Sharma and Pawan Pareek as members

💡 Investors should treat this as a routine management update, though they should monitor for any further executive departures that might suggest broader organizational instability.

Burnpur Cement Submits SEBI Regulation 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Apr 2026, 05:47 PM

Burnpur Cement Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Niche Technologies Private Limited (RTA), confirms that securities received for dematerialization during the quarter ended March 31, 2026, were processed according to regulatory standards. It verifies that physical certificates were mutilated and cancelled, and the name of the depository was substituted in the register of members. This is a standard procedural filing required for all listed companies in India.

Compliance certificate submitted for the quarter ended March 31, 2026.
Issued by Registrar & Share Transfer Agent (RTA) Niche Technologies Private Limited.
Confirms that dematerialized securities were listed on the stock exchanges where earlier securities were listed.
Physical security certificates were mutilated and cancelled after due verification by the RTA.
The filing ensures the company is adhering to SEBI's depository and participant regulations.

💡 No action is required as this is a routine regulatory filing. Investors should focus on the company's upcoming quarterly financial results for a better understanding of its operational performance.

Burnpur Cement to Close Trading Window from April 1, 2026 for FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Mar 2026, 03:45 PM

Burnpur Cement Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the upcoming financial results. The window will remain closed until 48 hours after the declaration of the audited financial results for the quarter and year ending March 31, 2026. This is a standard regulatory procedure and does not indicate any change in company fundamentals.

Trading window closure effective from April 1, 2026.
Applies to all Designated Persons and their Immediate Relatives as per SEBI norms.
Window to reopen 48 hours after the announcement of Audited Financial Results for Q4 and FY 2025-26.

💡 No action is required as this is a routine regulatory filing. Investors should monitor the company's upcoming financial results for actual performance indicators.

Burnpur Cement Receives BSE Approval for Waiver of Penalty for Delayed FY25 Compliance

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 25 Mar 2026, 03:54 PM

Burnpur Cement Limited has successfully obtained a waiver of penalties from BSE Limited regarding delayed regulatory compliance. The fines were originally levied for the late submission of financial results for the quarter and year ended March 31, 2025, under Regulation 33 of SEBI LODR. The company had applied for this waiver on July 11, 2025, and received the formal approval via email on March 25, 2026. This development clears a minor regulatory hurdle and prevents a cash outflow related to these specific penalties.

BSE Limited approved the waiver of fines for non-compliance with SEBI Regulation 33.
The compliance delay related to financial results for the quarter and year ended March 31, 2025.
The company had been pursuing this waiver since its formal application on July 11, 2025.
Approval notification was received by the company on March 25, 2026.

💡 This is a positive administrative update as it removes a potential financial liability. Investors should remain cautious and monitor if the company maintains timely compliance in future quarters to avoid further regulatory friction.

Burnpur Cement Receives BSE Approval for Waiver of Penalty for Compliance Delay

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 25 Mar 2026, 03:52 PM

Burnpur Cement Limited has successfully obtained a waiver of fines from BSE Limited regarding a delay in compliance with Regulation 33 of SEBI (LODR) Regulations. The penalties were originally levied for the late submission of financial results for the quarter and year ended March 31, 2025. The company had filed for this waiver on July 11, 2025, and received the formal approval via email on March 25, 2026. This development clears a regulatory hurdle and removes a potential financial liability from the company's accounts.

BSE Limited approved the waiver of penalties for delay in Regulation 33 compliance.
The compliance delay related to the financial period ending March 31, 2025.
The company had been pursuing this waiver since its application on July 11, 2025.
Official confirmation of the waiver was received by the company on March 25, 2026.

💡 This is a minor positive administrative update that eliminates a small financial penalty. Investors should focus more on the company's operational turnaround and future consistency in regulatory filings.

Burnpur Cement: NSE Reverses Penalty of ₹1.55 Lakh for Regulatory Non-Compliance

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 21 Mar 2026, 01:45 PM

Burnpur Cement Limited has received a communication from the National Stock Exchange (NSE) regarding the reversal of a previously imposed penalty. The fine of ₹1,55,760 was originally levied for non-compliance with SEBI Regulation 17(1A) for the quarter ended June 2025. Following submissions by the company, the NSE has decided to withdraw the penalty, effectively nullifying the financial liability. This update resolves a pending regulatory issue first disclosed in August 2025.

NSE reversed a penalty of ₹1,55,760 originally imposed for the quarter ended June 30, 2025
The penalty was related to non-compliance with SEBI (LODR) Regulation 17(1A) concerning board requirements
The reversal follows successful submissions made by the company to the exchange
The financial liability stands nullified as per the NSE communication dated March 20, 2026

💡 This is a minor positive regulatory update that clears a small financial liability. Investors should focus more on the company's core operational recovery and long-term financial health.

Burnpur Cement Reports Zero Revenue and Rs 20.13 Cr Net Loss in Q3 FY26; Not a Going Concern

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 19 Jan 2026, 07:23 PM

Burnpur Cement reported zero revenue for the quarter ended December 31, 2025, as the company has no functional production units following the sale of its Patratu assets to UltraTech Cement. The company posted a net loss of Rs 20.13 crore, which was almost entirely driven by finance costs of Rs 19.61 crore. Crucially, both the management and statutory auditors have explicitly stated that the company is no longer a 'going concern.' The company is currently exploring potential mergers or strategic transactions to revive its status, but it currently lacks any operational income.

Reported zero revenue from operations for the quarter ended December 31, 2025.
Net loss for the quarter stood at Rs 20.13 crore, primarily due to finance costs of Rs 19.61 crore.
Auditors highlighted that the company is not a 'Going Concern' as it has no functional production units.
Share capital was reduced from Rs 86.12 crore to Rs 17.22 crore following an NCLT order effective January 2025.
Idle cash of Rs 22.90 lakhs has remained unused at the Asansol unit for more than three years.

💡 Investors should exercise extreme caution as the company has no operations and is officially classified as not a going concern. The lack of revenue and heavy finance costs make this a high-risk situation with little immediate fundamental value.

Burnpur Cement Board Approves Reclassification of Two Promoters with 0% Stake to Public Category

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 19 Jan 2026, 07:21 PM

The Board of Burnpur Cement has approved the reclassification of Shehul Sandip Parikh and Rakhi Parikh from the 'Promoter' to the 'Public' category. Both outgoing promoters currently hold zero shares and zero percent voting rights in the company. Since their combined holding is less than 1%, shareholder approval is not required for this transition under SEBI regulations. The company will now proceed to obtain the necessary no-objection certificates from the BSE and NSE to finalize the process.

Board approved reclassification of Shehul Sandip Parikh and Rakhi Parikh to Public category
Both outgoing promoters hold 0 shares (0.00% equity) in the company
Shareholder approval is waived as the outgoing group holds less than 1% voting rights
The outgoing individuals do not hold any management positions or special rights in the company

💡 This is a technical administrative change with no impact on the company's fundamentals or actual shareholding distribution. No action is required from investors.

Burnpur Cement Reports Zero Revenue and Rs 20.13 Cr Net Loss in Q3 FY26; Not a Going Concern

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 19 Jan 2026, 07:16 PM

Burnpur Cement reported zero revenue from operations for the quarter ended December 31, 2025, as the company currently has no functional production units. The net loss for the quarter widened to Rs 20.13 crore, primarily driven by high finance costs of Rs 19.61 crore. Both management and statutory auditors have explicitly stated that the company is no longer a "going concern" following the sale of its Patratu assets to UltraTech Cement. Furthermore, the company has implemented a significant capital reduction, decreasing its paid-up equity share capital from Rs 86.12 crore to Rs 17.22 crore.

Revenue from operations remained at zero for Q3 FY26 due to the lack of operational units.
Net loss for the quarter stood at Rs 20.13 crore, compared to a loss of Rs 17.39 crore in the previous year's corresponding quarter.
Finance costs of Rs 19.61 crore accounted for nearly 97% of the total quarterly expenses.
Auditors issued an 'Emphasis of Matter' stating the company is not a going concern and has discontinued operations entirely.
Paid-up equity share capital was reduced by 80% to Rs 17.22 crore following an NCLT order dated October 30, 2024.

💡 Investors should exercise extreme caution as the company has no active business operations, zero revenue, and has lost its 'going concern' status. The stock represents a high-risk situation with significant uncertainty regarding any future recovery or strategic merger.

Burnpur Cement Reports Zero Revenue and Rs 20.13 Cr Net Loss in Q3 FY26; Not a Going Concern

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 19 Jan 2026, 07:14 PM

Burnpur Cement reported zero revenue for the quarter ended December 31, 2025, as its primary operational assets were sold to UltraTech Cement in late 2023. The company posted a net loss of Rs 20.13 crore for the quarter, largely due to finance costs amounting to Rs 19.61 crore. Both management and statutory auditors have explicitly stated that the company is no longer a 'Going Concern' as it lacks any functional production units. Additionally, the company's equity capital has been significantly reduced from Rs 86.12 crore to Rs 17.22 crore following an NCLT order.

Revenue from operations remained at zero for the quarter ended December 31, 2025.
Net loss widened to Rs 20.13 crore in Q3 FY26 compared to a loss of Rs 17.39 crore in Q3 FY25.
Finance costs of Rs 19.61 crore represent nearly the entire expenditure for the quarter.
Statutory auditors issued an 'Emphasis of Matter' stating the company is not a 'Going Concern'.
Paid-up equity share capital was reduced to Rs 17.22 crore from Rs 86.12 crore following NCLT and ROC registration.

💡 Investors should exercise extreme caution as the company has no operational business and is not a going concern. The significant debt and lack of production units make this a high-risk situation with potential for total capital loss.

Burnpur Cement Submits SEBI Compliance Certificate for Q3 FY2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 01:46 PM

Burnpur Cement Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, provided by Niche Technologies Private Limited, confirms that all dematerialization requests for the quarter ended December 31, 2025, were processed correctly. It ensures that physical certificates were cancelled and the depository's name was updated in the company's records. This filing is a standard procedural requirement for listed companies in India to maintain shareholding transparency.

Submission of Regulation 74(5) certificate for the quarter ended December 31, 2025
Confirmation from RTA Niche Technologies Private Limited regarding demat requests
Verification that securities are listed on the NSE and BSE stock exchanges
Confirmation of mutilation and cancellation of physical share certificates

💡 This is a routine administrative update with no impact on the company's valuation or operations. Investors should monitor the company's upcoming financial earnings report for actual performance data.

Burnpur Cement Re-appoints Rashmi Goyal as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Jan 2026, 05:44 PM

Burnpur Cement Limited has announced the re-appointment of Mrs. Rashmi Goyal as an Independent Director for a five-year term, effective from October 9, 2025. This appointment was approved by UV Asset Reconstruction Company Limited (ARC), which currently manages the company under the SARFAESI Act. Mrs. Goyal is a Chartered Accountant with 13 years of experience in finance and taxation, having previously worked with PepsiCo India. This move is part of the governance structure maintained by the ARC following its takeover of the company's management.

Mrs. Rashmi Goyal re-appointed as Independent Director for a 5-year term starting October 9, 2025
Appointment sanctioned by UV Asset Reconstruction Company Limited (ARC) under SARFAESI Act 2002
Mrs. Goyal brings 13 years of professional experience in finance and taxation as a Chartered Accountant
Company remains under the management control of UV ARC following debt restructuring processes

💡 Investors should remain cautious as the company is under the management of an Asset Reconstruction Company, indicating significant past financial stress. Monitor the ARC's ability to improve operational efficiency and the company's progress toward financial stability.

Burnpur Cement Re-appoints Rashmi Goyal as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Jan 2026, 05:40 PM

Burnpur Cement Limited has announced the re-appointment of Mrs. Rashmi Goyal as an Independent Director for a five-year term effective from October 9, 2025. This appointment was approved by UV Asset Reconstruction Company Limited (ARC), which currently manages the company under the SARFAESI Act. Mrs. Goyal is a Chartered Accountant with 13 years of experience in finance and taxation, previously associated with PepsiCo India. The move ensures board continuity as the company remains under the management of the ARC for debt-related restructuring.

Mrs. Rashmi Goyal re-appointed as Independent Director for a consecutive period of 5 years starting October 9, 2025
Appointment approved by UV Asset Reconstruction Company Limited (ARC) under Section 9(1)(a) of the SARFAESI Act
The appointee is a practicing Chartered Accountant with 13 years of experience in finance and taxation
The company continues to be under the management control of UV ARC as part of debt recovery/restructuring processes

💡 Investors should note that the company is currently under ARC management, which indicates significant financial stress; monitor for any turnaround plans or asset liquidation updates.

Burnpur Cement Re-appoints Mrs. Rashmi Goyal as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Jan 2026, 05:38 PM

Burnpur Cement Limited, which is currently under management by UV Asset Reconstruction Company Limited (ARC) via the SARFAESI Act, has confirmed the re-appointment of Mrs. Rashmi Goyal as an Independent Director. Her tenure is set for five consecutive years, effective retrospectively from October 9, 2025. Mrs. Goyal is a Chartered Accountant with 13 years of experience in finance and taxation, including a stint at PepsiCo India. This appointment is part of the ongoing governance restructuring led by the ARC to stabilize the company.

Mrs. Rashmi Goyal re-appointed as Independent Director for a 5-year term starting October 9, 2025.
Appointment approved by UV Asset Reconstruction Company Limited (ARC) under sections of the SARFAESI Act 2002.
The director is a practicing Chartered Accountant with 13 years of experience in Finance and Taxation.
The appointee has no familial or professional relationship with existing Directors or Promoters.

💡 Investors should note that the company is under a reconstruction phase led by an ARC; while professional board appointments are positive for governance, the stock remains a high-risk turnaround play.

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💰 Financial Performance

Revenue Growth by Segment

The company reported 0% revenue for the quarter ended September 30, 2025, as all revenue-generating assets and plants were sold. Historically, the company operated in a single segment (Cement).

Geographic Revenue Split

Not disclosed in available documents as the company currently has no operational revenue; however, future expansion is targeted at Jharkhand and West Bengal.

Profitability Margins

Net profit margin for FY 2023-24 was -0.74%, representing a negative change of 53% compared to -0.48% in the previous financial year. The decline is attributed to finance costs of INR 73.04 Cr and a loss on asset sales of INR 26.13 Cr.

EBITDA Margin

EBIT was negative INR 28.12 Cr for FY 2023-24, primarily due to a loss of INR 26.13 Cr from the sale of entire movable and immovable assets. Return on capital employed was -0.066 times, a negative change of 2012% from -0.003 times YoY.

Capital Expenditure

The company sold its entire property, plant, and equipment, which stood at a book value of INR 0.15 Cr as of September 30, 2025, down from INR 0.17 Cr in March 2025. No specific INR value for planned CAPEX is disclosed, though revival plans are mentioned.

Credit Rating & Borrowing

Total borrowings stood at INR 522.13 Cr as of September 30, 2025, an increase of 7.9% from INR 483.82 Cr as of March 31, 2025. Finance costs charged on a cumulative basis for FY 2023-24 were INR 73.04 Cr.

⚙️ Operational Drivers

Raw Materials

Limestone and clinker (standard for cement), but currently represent 0% of costs as manufacturing has ceased following the sale of all plants.

Import Sources

Not disclosed in available documents as operations are currently suspended.

Capacity Expansion

Current installed capacity is 0 MTPA as all plants have been sold. The company is exploring avenues to acquire new plants in Jharkhand, West Bengal, and Asansol to revive production.

Raw Material Costs

Raw material costs are currently 0% of revenue due to the cessation of manufacturing operations.

Manufacturing Efficiency

Capacity utilization is 0% as of September 30, 2025, due to the sale of all production facilities.

Logistics & Distribution

Distribution costs are 0% of revenue as there are no products to distribute.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company intends to achieve growth by acquiring new cement plants in Jharkhand, West Bengal, and Asansol. This strategy aims to revive production after the total sale of previous assets by lenders (UVARCL) under the SARFAESI Act.

Products & Services

Cement bags (historically), though no products are currently being manufactured or sold.

Brand Portfolio

Burnpur Cement.

Market Expansion

Targeting the states of Jharkhand and West Bengal for new plant locations to re-enter the regional cement market.

Market Share & Ranking

Not disclosed; currently negligible due to lack of production.

Strategic Alliances

The company is under the influence of UV Asset Reconstruction Company Limited (UVARCL), which exercised powers under the SARFAESI Act to sell company assets.

🌍 External Factors

Industry Trends

The Indian cement industry is expected to grow due to its role in building 'New India.' Demand is projected to outpace capacity additions, providing an opportunity for revival if the company can secure new assets.

Competitive Landscape

The industry is highly competitive with significant capacity additions announced by major players, making re-entry challenging for a company with a negative net worth.

Competitive Moat

The company currently lacks a sustainable moat as it has no operational assets; any future moat would depend on cost leadership or regional brand strength in West Bengal/Jharkhand.

Macro Economic Sensitivity

Highly sensitive to infrastructure spending and construction demand in Eastern India, which is projected to grow faster than announced capacity additions.

Consumer Behavior

Shift toward branded cement and infrastructure-grade products in the Eastern Indian market.

⚖️ Regulatory & Governance

Industry Regulations

The company is subject to the SARFAESI Act, 2002, under which lenders have seized and sold assets. It also faces regulatory oversight regarding director appointments and age limits.

Taxation Policy Impact

The company has deferred tax assets of INR 0.036 Cr (INR 3.64 Lakhs) as of September 30, 2025.

Legal Contingencies

The company is filing an appeal before the Securities Appellate Tribunal (SAT) against fines levied by NSE and BSE for non-compliance with Regulation 17(1A) of SEBI LODR regarding the continuation of a director (Mrs. Poonam Srivastava) beyond 75 years of age without a special resolution.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the ability of the company to acquire new plants and restart operations given a negative equity of INR 532.77 Cr. Potential impact is a 100% risk of business failure.