Outcome of the Board Meeting held on 21st May, 2026
OILCOUNTUB · price
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Oil Country Tubular Limited reported a significant deterioration in financial performance for FY2026 ending March 31. Total income declined 43% to Rs. 7,181.12 Lakhs from Rs. 12,576.76 Lakhs in FY2025. The company posted a net loss of Rs. 6,148.24 Lakhs, more than double the previous year's loss of Rs. 3,186.12 Lakhs. EBITDA for the year stood at Rs. 630.32 Lakhs. The Board approved appointment of Mr. Ramamuni Reddy Jampanapalle as new CFO and re-designated Mr. Paruchuri Dheeraj Chowdary as Whole Time Director (effective June 1, 2026). Statutory auditors C K S Associates converted to LLP structure with no change in engagement. The company raised Rs. 41.5 crore through conversion of OCPS to equity shares. Auditors issued an unmodified (clean) opinion on the financial results.
The sharp revenue decline and widened losses signal severe operational stress, likely due to weakness in the oil & gas tubular goods market. Shareholders should expect continued pressure on the stock given negative PAT, negative EPS of Rs. -12.01, and negative operating cash flow of Rs. -1,047.60 Lakhs. The clean audit opinion provides some comfort on financial reporting integrity.