Considered and approved the unaudited financial Results of the Company for the quarter ended 30.06.2026

NILACHAL REFRACTORIES LTD. Flat No.23. el3C :" 0I F 3N l 3o : 4o r 01 , 0, 2B2 9l6 o 39 c 03 k 19 * /D0 3*R 0 41 20C9 0/h7 , o F7 w aP r xiL :nC 0g 30 h 30 e 2e0 2 47 M 93 a 95 n 5s. 1i 1 o G /n 8 , 2S 5 T 63 ,I 0 N . l: J f/ mN l2 /l 1 .R '/A o Ia IA Id IB ), (( C LK IN Ho 'I [l HLk1 'a /2 It {!4 a Li I llN 71 0Z 0S 0 16 INDIA Date: 14 August, 2026 To CSE Limited BSE Limited Department of Corporate Services Floor 7 Lyons Range, Kolkata - 700001 25, P.J. Towers Dalal Street, Mumbai-400001 Scrip Code: 19120 Scrip Code: 502294 Subject: Outcome of the Meeting of the Board of Directors Dear Sir/Madam, P ( t FLu h ri er is ds t B au i o ya n ,an g r t 1O d b 4t olo fi g DR ua ie gt rg ui eu so cl tn ta s ,ot ri 2a so n 2n od 6f 3 D N 0 i hi as l sr c a ,e l c oa h isd a nu l tr ew Re ri e t f aR lh re ia aq cS ,u t c i coh or re nied e smu s ie l dn Le et i rs m eI ) iI d I t R e aea d ngn u dd (l " a aCo t pot i pmh o re pn or as v, n a ey2p d"0p ) 1l t,5i h ,c ea a t wb u il e nte s a uw Mp di er is eo th tv e i it ds no i g Fo i in hn ns ef a l no do crf im t a ot ly dh o a Re yu e , s S t uE ih l.B a e tI .t s, of the Company for the Quarter ended as on June 30, 2026. F Uu nr at uh der i, t eT dh Fe i nB ano ca ir ad l Rh ea ss u la tu st oh fo r ti hez e Cd o mM pr. a nV yi m fa orl thP er a qk ua ars th e r( eDI nN d: e d0 30 017 t4 h9 J1 u5 n) e, , 2D 0i 2re 6c .t or, to sign the In th 1.i s r ueg na ar ud d, i p tl ee da s Fe i nf ai nn cd i ae ln c Rl eo ss ue ld t sh oe fr e tw hei t Ch o t mh pe af nol yl o fw oi rn tg h: e Quarter ended as on June 30, 2026. 2. AA ul to hn og r iw zi at th i oL ni m Li et te td er R te ov si ie gw n R the ep o ur nt a uth de ir te eo dn . F inancial Results for the quarter ended 30.06.2026 The Meeting of the Board of Directors commenced at 4:00 P.M. and concluded at 7:35 P.M. Kindly take the above information on record. Thanking you. Yours faithfully, For Nilachal Refractories Limited fiwmw{x 28 f/afl Mr. Mukesh Kumar Shaw Company Secretary & Compliance Officer ACS No.: 80201 orks Ipitata Nagar, Gundichapada, Dhenkanal-73%025. Odisha, Email-nel.dnk@gmail.com Regd Office: 1-598'599, Kedarnath Appartment, Mahabir Nagar, Lewis Road, Bhubaneswar-751002 (Odisha) JAIN SARAOGI & CO LLP %3 CHARTERED ACCOUNTANTS 1, Crooked Lane, Ist Floor, Kolkata (WB) 700 069 T: +91-33-22484130 | M : +91-9836184131 E: info@jainsaraogi.com | W: www.jainsaraogi.com Independent Auditor’s Review Report on Interim Financial Results The Board of Directors Nilachal Refractories Limited P-598/599, Kedarnath Apartment Mahabir Nagar Lewis Road Khordha, Bhubneswar, Orissa- 751002 1. We have reviewed the accompanying Statement of Unaudited Ind AS Financial Results of Nilachal Refractories Limited (“the Company”) for the quarter ended June 30, 2026 (“the statement™), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations™). 2. The preparation of the statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting™ as prescribed under section 133 of Companies Act, 2013 read with Rule 3 of Companies (Indian accounting Standards) Rules, 2015, as amended, read with the Circular is the responsibility of the Company’s management and has been approved by the Board of Directors of the Company in its meeting held on 14th August, 2026. Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, “Review of Interim Financial Information performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. a) The Company has not obtained an actuarial valuation for its employee benefit obligations, as required under Ind AS 19 — Employee Benefits. Instead, retirement benefits are recognised based on the requirements of the applicable legislation. Additionally, these obligations are unfunded. Due to non-availability of actuarial reports, we are unable to determine and quantify the impact on the loss for the year and the related liabilities. b) The Company has not redeemed its 11% Redeemable Cumulative Preference Shares, which were due for redemption on or before September 2000. No provision has been made for cumulative dividends amounting to ¥75.03 lakhs up to March 31, 2026, and 20.41 lakhs for the quarter ended June 30, 2026. c) We draw attention to Note 6 to the accompanying Statement regarding classification of the assets related to manufacturing operations as held for sale, and the consequent accounting and presentation of such operations as discontinued operations in accordance with the applicable Indian Accounting Standards. Branches : Ranchi (Tharkhand) & Guwahafi (Kksam) | Jain Saraogi & Co. (a Partnership Firm with ICAI Registration No. 305004E) converted into Jain Saraogi & Co LLP (a Limited Liability Partnership with LLPIN : ACB-1959 & ICAI Registration No. 305004E/E300281) with effect from May 17. 2023 JAIN SARAOGI & COLLP CONTINUASTHEIETO NNO CHARTERED ACCOUNTANTS 5. Material Uncertainty Related to Going Concern We draw attention to Note No. 9 to the accompanying Statement regarding the preparation of the financial results on a going concern basis. As stated therein, the Company is in the process of disposing of the assets relating to its manufacturing operations and as represented by the management the company proposes to undertake business activities in the ferro-alloys sector. The Company’s ability to continue as a going concern is dependent, inter alia, upon the successful implementation of the proposed ferro-alloys business plan, timely commencement and generation of adequate cash flows from such operations, and the availability/continuation of adequate working capital and other financing arrangements to enable the Company to meet its obligations as they fall due. These matters are dependent upon future events, the outcome of which is presently uncertain. Accordingly, these events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. The financial results have, however, been prepared on a going concern basis for the reasons stated in the aforesaid Note. We have not performed any audit and accordingly, we do not express an audit opinion. 6. Based on our review conducted as mentioned in paragraph 3 above and subject to the possible effects of the matters described in paragraph 4 and 5 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (“Ind As™) specified under Section 133 of the Companies Act, 2013,read with relevant rules issued thereunder and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of the Listing Regulations including the manner in which it is to be disclosed or that it contains any material misstatement. For JAIN SARAOGI & CO LLP Chartered Accountants FRN: 305004E/E300281 Place: Kolkata Date: 14" August, 2026 Partner: Ravi Kumar Membership No. 304392 UDIN : 26304392ZGEVUD5434 NILACHAL REFRACTORIES LIMITED CIN : L269330R1977PLC000735 REGD. OFFICE : Plot No §98/599, Kedar Nath Apartment, Mahabir Nagar, Lewis [Showing first 8,000 characters — download PDF for full document]