Outcome of board meeting held on 30.05.26
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Organic Coatings Ltd reported a net loss of Rs 325.88 lakhs for FY 2025-26, significantly worse than the Rs 210.23 lakhs loss in the previous year. Revenue from operations declined to Rs 2,809.33 lakhs from Rs 2,895.79 lakhs (about 3% decline). The board did not recommend any dividend due to the loss. Total equity has eroded to just Rs 2.27 lakhs from Rs 329.21 lakhs previously, as Other Equity turned deeply negative at Rs 995.19 lakhs. The statutory auditor Soman Uday & Co. issued an unmodified (clean) opinion on the financial statements. Two proposed independent director appointments were deferred, and the Company Secretary resigned effective May 29, 2026.
The company's equity has been nearly wiped out, indicating severe financial distress. Shareholders face extreme risk as the stock appears to be trading near its net worth. The mounting losses and negative equity raise substantial doubts about the company's ability to continue as a going concern.