Oswal Agro Mills Limited has informed the Exchange regarding Resignation of Mr. Anil Kumar Bhalla as Non- Executive Director of the company w.e.f. May 31, 2025.
OSWALAGRO · price
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Oswal Agro Mills informed the exchanges that Mr. Anil Kumar Bhalla (DIN: 00587533) has stepped down as Non-Executive & Non-Independent Director, effective close of May 31, 2025, citing personal commitments. The same board meeting on May 21, 2025 approved the audited financial results for Q4 and FY ended March 31, 2025. On a standalone basis, total income was ₹17,368.38 lakhs with a net profit of ₹6,289.77 lakhs. Consolidated net profit was higher at ₹11,314.75 lakhs, aided by the share of profit from associate Oswal Greentech Limited. The statutory auditor issued an unqualified opinion on the standalone results but a qualified opinion on the consolidated results, flagging non-provisioning of interest income at the associate level (understating consolidated PAT by ~₹1,995 lakhs). The company also reported sale of ~71,759 sq mtr of its 1,06,374 sq mtr Transferable Development Rights from BMC.
The exit of a non-executive, non-independent director for personal reasons is a routine board change and should not materially affect shareholders. The qualified audit opinion on consolidated results, arising from the associate's accounting treatment, is worth monitoring but does not alter the standalone picture.