The Exchange had sought clarification from The Orissa Minerals Development Company Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1.Financial results submitted in XBRL with discrepancies The response of the Company is enclosed.
ORISSAMINE · price
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Awaiting price reaction for this filing.
OMDC has submitted its signed financial results and limited review report for the quarter ended 30 September 2025, responding to NSE's query about XBRL discrepancies under SEBI LODR Regulation 33. The company swung back to profit in Q2 FY26, reporting net profit of Rs. 314.11 lakhs (EPS Rs. 5.24) compared to a loss of Rs. 278.61 lakhs in Q1 FY26, with revenue from operations rising to Rs. 2,512.75 lakhs from Rs. 1,937.03 lakhs. For the half-year (H1 FY26), total income stood at Rs. 4,744.05 lakhs and net profit at Rs. 35.49 lakhs. The auditor flagged serious concerns: mining at Belkundi and Bhadrasai remains suspended pending clearances, only 61.795 of 284.17 acres of land are held in the company's name (41.416 acres encroached), and quarterly independent mine stock assessment is not done. The company continues to carry large borrowings of Rs. 13,742.69 lakhs and negative reserves of Rs. 5,182.31 lakhs, with a pending Supreme Court-linked demand of Rs. 1,563.76 crore against OMDC and BPMEL leases.
Short-term, the return to profit and improved sequential performance may provide modest relief to the stock, but the auditor's emphasis-of-matter notes on suspended mines, land title irregularities, and unverified stock raise ongoing governance and going-concern risks. Shareholders should view this as a routine clarification filing rather than a positive earnings surprise, and watch for resolution of the mine lease renewals and the large pending statutory demands.