Raj Oil Mills Limited has informed the Exchange regarding Board meeting held on August 13, 2025.
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Raj Oil Mills' board, at its August 13, 2025 meeting, approved its Q1 FY26 (quarter ended June 30, 2025) unaudited standalone financial results and scheduled the 23rd AGM for September 29, 2025 via video conferencing. Revenue from operations rose sharply to ₹3,359.70 lakhs from ₹2,121.28 lakhs in Q1 FY25, a growth of about 58% year-on-year. The company swung from a loss after tax of ₹(79.15) lakhs in Q1 FY25 to a profit of ₹140.65 lakhs in Q1 FY26, with EPS improving from ₹(0.53) to ₹0.94. Two independent directors, Mr. Siraj Umar Furniturewala and Mr. Arun Dash, resigned effective close of business on August 13, 2025, citing personal commitments, and the Audit, Nomination & Remuneration, and Stakeholder Relationship Committees were reconstituted with replacement independent directors. The auditor (Kailash Chand Jain & Co.) issued an unmodified review report but flagged an Emphasis of Matter about ₹61.75 lakhs still owed to unsecured operational creditors and public fixed deposit holders under the 2018 NCLT-approved resolution plan, with cheques bouncing due to non-traceable parties and the matter pending before NCLT.
The strong revenue rebound and return to profitability are positive for shareholders, but the simultaneous exit of two independent directors raises governance concerns, and the lingering unresolved creditor/deposit repayments from the 2018 resolution plan remain a watch item. Investors should monitor committee reconstitution and the pending NCLT outcome alongside the improving operational trajectory.