Omkar Speciality Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on May 27, 2026 regarding the appointment of M/s. Aabid & Co, Company Secretaries as the Secretarial Auditor of the Company for the financial year 2025-26.
Awaiting price reaction for this filing.
R.R. Tibrewala & Co. issued Limited Review Reports for three quarters (June, September, and December 2025) with a qualified conclusion. The company was under Corporate Insolvency Resolution Process (CIRP) during this period and failed to prepare financial results for the first three quarters of FY 2024-25, making comparative figures unavailable. The company reported losses and has negative net worth, raising substantial doubt about its ability to continue as a going concern. However, financial results were prepared on a going concern basis due to approval of a Resolution Plan by NCLT on July 31, 2025. The auditor drew an emphasis of matter on the Resolution Plan approval but did not modify the conclusion.
The qualified conclusion and going concern doubt signal financial distress despite the resolution plan approval. Shareholders should monitor the company's turnaround progress under the approved resolution plan. The stock may remain volatile until the company demonstrates operational stability.