Oriental Aromatics Limited has informed the Exchange regarding Resignation of Mr Deepak R. Ramachandra as Non- Executive Independent Director of the company w.e.f. May 21, 2026.
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Oriental Aromatics Limited held a Board meeting on May 20, 2026 approving Q4 and full year FY26 financial results. Standalone FY26 revenue stood at Rs 1,026.67 crore with net profit of Rs 25.26 crore versus Rs 46.84 crore in FY25. Consolidated FY26 revenue was Rs 1,030.78 crore with net profit of Rs 3.31 crore, significantly lower than Rs 34.33 crore in FY25 due to reduced other comprehensive income. The Board recommended a dividend of Rs 0.50 per equity share (10%) for FY26, subject to shareholder approval at the AGM on August 18, 2026 (Record Date: August 5, 2026). Mr Deepak Ramachandra resigned as Non-Executive Independent Director effective May 21, 2026 due to professional commitments, with the company confirming no material reasons for resignation. The Board appointed Mr John Gloster (sports physiotherapist with 30+ years experience, currently with Rajasthan Royals IPL) as Additional Non-Executive Independent Director from May 20, 2026 for a 5-year term subject to AGM approval. Statutory auditors Lodha & Co. LLP issued unmodified opinions on both standalone and consolidated financials.
Net profit declined significantly year-on-year (standalone down 46%, consolidated down 90%) which could pressure the stock. The resignation of an independent director raises governance concerns though the prompt replacement suggests continuity. The dividend offer provides some shareholder return amid profit decline.