Oil Country Tubular Limited has informed the Exchange regarding Resignation of Mr Sudhir Kumar Pola as Company Secretary & Compliance Officer of the company w.e.f. May 08, 2025.
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Oil Country Tubular Limited's board met on May 8, 2025 and approved several items. Mr. Sudhir Kumar Pola resigned as Company Secretary and Compliance Officer (a Key Managerial Personnel) effective May 8, 2025, citing better professional opportunities. The board also declared audited FY25 results with an unmodified auditor opinion — total income rose sharply to Rs. 12,576.76 lakhs (vs Rs. 1,969.03 lakhs in FY24), while net loss narrowed significantly to Rs. 1,186.12 lakhs (vs Rs. 5,503.78 lakhs). Additionally, 41,50,000 equity shares were allotted at Rs. 65 each to United Steel Allied Industries Private Limited on conversion of OCPS, increasing paid-up equity from 4.78 crore to 5.20 crore shares and lifting promoter group stake from 52.99% to 56.74%.
The Company Secretary departure is a routine KMP change but creates a compliance officer vacancy that needs prompt filling. FY25 results show a major turnaround — revenue jumped over 6x and losses narrowed sharply — which is positive for shareholders. The OCPS conversion dilutes existing shareholders slightly (about 8.7% increase in share count) but the promoter shareholding strengthening to 56.74% may be viewed as a confidence signal.