Oil Country Tubular Limited has informed the Exchange about change in Management
OILCOUNTUB · price
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Oil Country Tubular Limited reported its FY2026 audited financial results alongside three management changes. The company posted a net loss of ₹6,435.54 lakhs for the year ended March 31, 2026, significantly worse than the prior year's loss of ₹2,910.07 lakhs. Total income fell to ₹7,181.12 lakhs from ₹12,576.76 lakhs. Mr. Ramamuni Reddy Jampanapalle was appointed as the new CFO and Key Managerial Personnel, bringing over 35 years of finance and accounts experience within the company. Separately, Mr. Paruchuri Dheeraj Chowdary, currently a Non-Executive Non-Independent Director, was elevated to Whole Time Director for 3 years effective June 1, 2026, subject to shareholder approval — he is the son-in-law of existing director Mr. Shashidhar Kamineni. The company's statutory auditor, C K S Associates, converted to an LLP but will continue in the same role with no change in partners.
The sharp widening of losses and revenue decline signal deteriorating business conditions. The promotion of a director with family ties to an existing board member raises governance concerns. The CFO appointment brings internal continuity but does not signal a strategic shift.