We herewith submit the audited financial results for the quarter and financial year ended 31st March 2026.
Awaiting price reaction for this filing.
Pipan Oils (formerly Omansh Enterprises) reported a net loss of ₹206.76 lakhs for FY26, significantly worse than the loss of ₹19.26 lakhs in FY25. Revenue from operations was minimal at ₹12.17 lakhs. The company went through Corporate Insolvency Resolution Process (CIRP) with a resolution plan approved by NCLT in February 2024, resulting in a change of management. The company is transitioning into oil/gas/minerals trading business. An exceptional item of ₹120.96 lakhs was recorded (write-off of old balances). The balance sheet shows severe stress with negative other equity of ₹(331.24) lakhs and total equity of only ₹19.32 lakhs. The company executed an assignment deed with Tvisha Corporate Advisors LLP to transfer old payables/receivables to the erstwhile management. A farm-in agreement was also signed for participating interest in an oil block.
The stock shows severe financial stress with negative equity and mounting losses. The transition to new management and new business lines carries execution risk. Shareholders face significant uncertainty despite the auditors issuing an unmodified opinion.