64th Annual Report of the company is hereby submitted
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Hindustan Organic Chemicals Ltd (HOCL), a Government of India enterprise, has submitted its 64th Annual Report for FY 2024-25 along with the notice of its AGM scheduled for September 26, 2025 (via video conferencing). The company reported a turnaround with a net profit of Rs. 391.54 crore after tax in FY 2024-25, compared to a net loss of Rs. 55.32 crore in FY 2023-24 (the previous year included a one-time government loan waiver). The Kochi unit achieved strong capacity utilization of 87% for Phenol and 97% for Hydrogen Peroxide. The company is seeking shareholder approval to reduce paid-up equity capital from 33.72 crore shares to 6.72 crore shares by cancelling 27 crore preference shares that were waived off by the Government of India. Several new directors have been appointed, and HOCL's subsidiary Hindustan Fluorocarbons Ltd is in the process of delisting from BSE following its approved closure.
The dramatic swing to a Rs. 391.54 crore profit from a prior-year loss is a significant positive for shareholders, though it largely reflects the one-time accounting impact of the government's loan/preference share waiver rather than core operations. The proposed capital reduction will lower the share count but not affect the overall value for shareholders. Investors should note this is a government PSU with limited operating scale (single Kochi unit) and ongoing subsidiary closure.