Oil Country Tubular Limited has informed the Exchange regarding re-designation of existing Chief Financial Officer of the Company, Mr J RAMA MUNI REDDY as Head - Accounts of the company w.e.f. August 07, 2025.
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Oil Country Tubular Limited held a board meeting on August 7, 2025, approving several key management changes. Existing CFO Mr. J. Rama Muni Reddy was re-designated as Head – Accounts, and Mr. G.L.B. Shastry (a Chartered Accountant with 16 years' experience) was appointed as the new CFO. The board also appointed Dr. Kamineni Shashidhar as an Additional Non-Executive Professional Director — he is the son of Chairman & Managing Director Shri Kamineni Suryanarayana. Mr. Vaibhav S. Suryawanshi was appointed as Company Secretary and Compliance Officer. The 39th AGM is scheduled for September 10, 2025. For Q1 FY26, the company posted a net loss of Rs. 606.12 lakhs on total income of Rs. 2,505.87 lakhs, a slight improvement from the Rs. 681.21 lakhs loss in Q1 FY25, with EBITDA of Rs. 927.53 lakhs.
The induction of the CMD's son onto the board signals a deepening of promoter family involvement in governance, which may concern minority shareholders. Continued quarterly losses persist, but a modest improvement in bottom line and positive EBITDA offer some support. Investors should watch the AGM outcome where shareholder approval for the new director will be sought.