Change in management
Price
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On the reaction day the stock moved 6.5 pts less than Nifty Microcap 250 and 6.2 pts less than its Commodity Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board of Oriental Carbon & Chemicals Limited (OCCL) approved audited FY25 results showing a sharp swing to a loss of Rs 36,634.01 lakhs on a standalone basis, largely due to a Rs 37,494.57 lakh exceptional item linked to the demerger of its Insoluble Sulphur & Chemicals business into OCCL Limited (Resulting Company) effective July 1, 2024. Revenue from continuing operations stood at Rs 2,234.06 lakhs versus Rs 1,447.13 lakhs in FY24, while the demerged chemicals business contributed Rs 5,331.22 lakhs in profit from discontinued operations. The board approved voluntary delisting of equity shares from the NSE, appointed Mrs. Mitali Gupta (DIN: 11119860) as Additional Director, and approved a shift of the registered office from Gujarat to another state. Re-appointment of DHC Advisory LLP as Internal Auditor and appointment of P. Sarawagi & Associates as Secretarial Auditor for five years were also cleared. Statutory auditors S S Kothari Mehta & Co. LLP issued an unmodified opinion on the results.
Shareholders should note the massive reported loss is a one-time accounting effect of the demerger scheme rather than an operating collapse, but the voluntary NSE delisting will reduce liquidity as the stock would trade only on BSE going forward. The registered office shift between states and new director appointment indicate an ongoing corporate restructuring phase.