ANNUAL REPORT FOR F.Y.2024-25
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Organic Coatings Ltd, a manufacturer of printing inks and allied products, has submitted its 60th Annual Report for FY 2024-25. Revenue from operations grew 7.83% to Rs. 2,900.45 Lacs from Rs. 2,689.91 Lacs in the previous year. However, the company swung into a much deeper loss — profit before depreciation, interest and tax dropped 104% to Rs. (8.43) Lacs, and total comprehensive loss widened to Rs. (215.51) Lacs versus Rs. (49.22) Lacs last year. No dividend has been recommended due to the loss. Equity share capital rose to Rs. 997.46 Lacs from Rs. 767.46 Lacs, and net worth turned positive at Rs. 142.31 Lacs from a negative Rs. (67.67) Lacs earlier. The 60th AGM is scheduled for September 30, 2025 at 3:00 p.m. via video conferencing. Resolutions include reappointment of Mr. Abhay R. Shah (who holds 8.04% stake) as a director retiring by rotation, and appointment of Mr. Kuppamuthu Sundaramurthy as Wholetime Director & COO.
Despite top-line growth, shareholders should note the sharp deterioration in profitability and the continuation of multi-year losses with no dividend. The improvement in net worth likely reflects fresh equity issuance, which may dilute existing shareholders. The stock remains a small-cap, thinly-traded name and AGM resolutions on director appointments warrant attention from voting shareholders.