OUTCOME OF 60th ANNUAL GENERAL MEETING
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Organic Coatings Ltd held its 60th AGM on September 30, 2025, via video conferencing from 3:00 PM to 3:30 PM, chaired by Mr. Abhay R. Shah. Shareholders approved four resolutions: adoption of FY25 audited financial statements, re-appointment of Mr. Abhay R. Shah as Director (retiring by rotation), appointment of Mr. Kuppamuthu Sundaramurthy as Additional Director, and his appointment as Wholetime Director & COO for 5 years (August 2025 to August 2030). The Chairman shared that FY25 revenue from operations grew 7.83% to Rs. 2,900.44 lakhs, but PBDIT swung negative at Rs. (8.43) lakhs versus Rs. 190.52 lakhs last year, and total comprehensive loss widened to Rs. (215.51) lakhs. For H1 FY26, net turnover stood at Rs. 15.20 crores, down from Rs. 19.22 crores in the comparable prior period, with FY26 net sales guidance of about Rs. 35 crores.
Mixed signals for shareholders: revenue grew modestly but the company slipped into a PBDIT loss and a sharply wider net loss in FY25, with first-half FY26 turnover also trailing the prior year. The new COO appointment may signal a focus on operational turnaround, but investors should watch for margin recovery and whether the Rs. 35 crore FY26 sales target materialises.