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Omkar Speciality Chemicals Ltd

| Unaudited Financial Results – Q2 & H1 FY26

NEUTRAL SENTIMENT

Report Source

⬤3rd Jun 26

Summary : Omkar Speciality Chemicals is recovering from CIRP with an approved resolution plan, new leadership, and fund infusion, despite ongoing losses.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Total Expenses: Q1: 41.84 Lakhs, Q2: 59.50 Lakhs, Q3: 33.66 Lakhs
  2. Depreciation and amortisation: Q1: 22.31 Lakhs, Q2: 22.52 Lakhs, Q3: 22.52 Lakhs
  3. Revenue from operations: Nil for Q1, Q2, Q3 FY2025-26
  4. Other income: Q1: 0.86 Lakhs, Q2: 7.70 Lakhs, Q3: 0.82 Lakhs
  5. Net cash from operating activities (H1 FY2025-26): -138.66 Lakhs
  6. Net cash used in investing activities (H1 FY2025-26): -34.59 Lakhs
  7. Increase in other financial liabilities (H1 FY2025-26): 500.00 Lakhs
  8. Cash and cash equivalents at period end (30.09.2025): 39.30 Lakhs
  9. Total Assets (30.09.2025): 4,622.79 Lakhs
  10. Other Equity (30.09.2025): -119.22 Lakhs (vs -37,708.26 Lakhs on 31.03.2025)
  11. Current Borrowings (30.09.2025): 1,678.55 Lakhs (vs 38,235.31 Lakhs on 31.03.2025)
  12. Standalone financial results presented

Corporate Overview

  1. Registered office in Badlapur, Thane, Maharashtra, India
  2. Admitted into Corporate Insolvency Resolution Process (CIRP)
  3. Incurred losses and negative net worth
  4. No revenue from operations in recent quarters
  5. Dependent on successful implementation of Resolution Plan
  6. Dependent on funds infused by Resolution Applicant
  7. Speciality Chemicals manufacturing
  8. Company operates in a single segment
  9. Factual and procedural reporting
  10. Cautiously optimistic about revival post-CIRP
  11. Single operating segment
  12. Resolution Plan includes 351 lakhs for Capex and working capital

Risk Factors

  1. Company remains under Corporate Insolvency Resolution Process.
  2. Continued financial losses and negative net worth.
  3. Material uncertainty regarding going concern status.
  4. No operational revenue generated recently.

Key Drivers

  1. NCLT approved resolution plan.
  2. Resolution Applicant infused significant funds.
  3. New CEO and Independent Director appointed.
  4. Board committees reconstituted for governance.

Auditor’s Report

  1. Qualified Conclusion
  2. Company was under CIRP during the review period
  3. No comparative quarterly figures available for FY2024-25
  4. Incurred losses and negative net worth, raising going concern uncertainty
  5. Approval of Resolution Plan by NCLT on July 31, 2025, post-reporting period

Board Commentary

  1. Audit Committee constituted with independent directors
  2. Stakeholder's Relationship Committee constituted
  3. Mr. Ruhini Kumar Chakraborty appointed Independent Director
  4. Mr. Dipak Kumar Shaw appointed Chief Executive Officer (CEO)
  5. Statutory Auditors (R. R. Tibrewala & Co.) appointed
  6. Secretarial Auditor (M/s. Aabid & Co) appointed
  7. Incurred losses and negative net worth
  8. Material uncertainty related to going concern
  9. Admitted into CIRP via NCLT order on December 5, 2022
  10. Resolution Plan approved by NCLT on July 31, 2025
  11. Resolution Plan allocates 351 lakhs for Capex and working capital
  12. Resolution Applicant infused 1508.16 lakhs up to December 2025

Corporate Governance

  1. Compliance with Companies Act 2013 and SEBI Listing Regulations
  2. Audit Committee includes independent directors
  3. Stakeholder's Relationship Committee includes independent director
  4. New Independent Director appointed
  5. Audit Committee constituted
  6. Stakeholder's Relationship Committee constituted
  7. Monitoring Committee currently oversees operations
  8. Company was under Corporate Insolvency Resolution Process (CIRP)

Management Discussion & Analysis

Future Strategy

  1. Implementation of approved Resolution Plan
  2. Expected revival of operations
  3. Strengthening governance through committee constitution
  4. Appointing key managerial personnel

Operational Focus Areas

  1. Facilitate smooth day-to-day business operations
  2. Ensure compliance with SEBI Listing Regulations

Performance Drivers

  1. Approval and implementation of Resolution Plan
  2. Infusion of funds by Resolution Applicant
  3. Reconstitution of Board and committees

Risk Control Measures

  1. Financial results prepared on going concern basis due to approved Resolution Plan
  2. Resolution Applicant infused funds to support operations

Critical Risks

  1. Company under Corporate Insolvency Resolution Process (CIRP)
  2. Continued losses and negative net worth
  3. Material uncertainty related to going concern
  4. No revenue from operations in reported quarters