Board approves delayed FY23 to FY25 results; NCLT approved resolution plan in July 2025
Awaiting price reaction for this filing.
Omkar Speciality Chemicals board approved delayed unaudited results covering FY23, FY24 and FY25, plus audited annual results for the same years. Revenue from operations fell from Rs 2,298 lakhs in FY22 to Rs 702 lakhs in FY23. FY23 included exceptional items of Rs 14,603 lakhs and a total loss of Rs 18,204 lakhs. Net worth is deeply negative at minus Rs 37,381 lakhs. The company was admitted to CIRP on 5 Dec 2022; the resolution plan submitted by Kshitij Polyline was approved by NCLT on 31 July 2025, and a new board took charge on 1 Jan 2026.
Positive: NCLT approved resolution plan in July 2025 signals possible revival. Negative: massive losses, deeply negative net worth, and multi-year filing delays raise governance and solvency concerns.