Oricon Enterprises Limited has informed the Exchange regarding 'Re-classification of Promoter and Promoter Group '.
ORICONENT · price
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Oricon Enterprises board approved the re-classification of certain Promoter and Promoter Group members to the Public shareholders category, subject to approvals from BSE, NSE, and shareholders. The company also reported audited standalone profit after tax of Rs. 732.51 lakhs for FY26 versus a loss of Rs. 901.79 lakhs in FY25. The board recommended a 10% dividend (Rs. 0.20 per share) and approved the sale of 80% stake in subsidiary Oriental Containers Ltd and exit from Claridge Energy LLP. Independent Director Mr. Sumant Mimani resigned, and all board committees were reconstituted.
The re-classification of promoters to public shareholders could reduce the promoter group's effective control and voting power, potentially affecting stock sentiment. The company returned to profitability in FY26 despite significant losses from discontinued operations and asset sales.