National Oxygen Limited has reported its standalone audited financial results for the financial year ended March 31, 2026. The company posted a net profit of ₹183.66 lakh, a significant improvement from the net loss of ₹700.22 lakh recorded in the previous year ended March 31, 2025. This return to profitability was largely attributed to exceptional items recognized during the period.

Financial Performance Overview

For the full year, national oxygen recorded total income of ₹2371.90 lakh, a decrease from ₹4086.01 lakh in the corresponding previous period. Revenue from operations stood at ₹2296.12 lakh, down from ₹4058.18 lakh in FY25. The company reported other income of ₹75.77 lakh for the current financial year.

The financial results for the quarter ended March 31, 2026, showed a net loss of ₹178.15 lakh, compared to a loss of ₹259.40 lakh in the same quarter of the previous year. Total income for the quarter was ₹431.32 lakh, while revenue from operations was ₹396.59 lakh.

Exceptional Items and Operational Metrics

The company recognized exceptional items totaling ₹812.26 lakh during the financial year. According to the notes accompanying the financial results, this profit arose from the sale of Mathur commercial land spanning 5.60 acres. The sale, completed on July 24, 2025, fetched ₹8.30 crore, and the proceeds were utilized to settle term loans, thereby reducing financial liabilities.

Operational Expenses and Assets

Total expenses for the year amounted to ₹3000.49 lakh, lower than the ₹4786.23 lakh reported in the previous year. Key expense components included power and fuel costs at ₹1570.99 lakh and employee benefit expenses at ₹269.09 lakh. Depreciation and amortisation expenses were reported at ₹231.32 lakh.

As of March 31, 2026, the company's total assets stood at ₹2825.89 lakh, a decrease from ₹3109.76 lakh in the previous year. Non-current assets were valued at ₹2383.50 lakh, while current assets stood at ₹442.39 lakh. The total equity and liabilities were reported at ₹2825.89 lakh.

Board Decisions and Auditor Appointment

In addition to the financial results, the Board of Directors approved the appointment of R. Bala Subramanian as the internal auditor of the company for the financial year 2026-27. The appointment is effective from May 25, 2026. The statutory auditors, M/S. PSDY & Associates, issued an audit report with an unmodified opinion on the standalone financial statements for the year ended March 31, 2026.

National Oxygen Limited has formally submitted the notice of its Extra-Ordinary General Meeting (EGM No. 01/2026-27) to BSE Limited, scheduled for Thursday, May 28, 2026, at 11:00 A.M. (IST) via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The EGM notice, dated April 29, 2026, was communicated to the exchange on May 6, 2026, by Managing Director Rajesh Kumar Saraf, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Subsequently, on May 13, 2026, the company submitted to BSE confirmation of newspaper advertisements published in connection with the dispatch of the EGM notice, as detailed below.

Newspaper Publication of EGM Notice

In compliance with the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, National Oxygen Limited published advertisements regarding the dispatch of the EGM notice dated April 29, 2026, in the following newspapers:

The submission was made by Managing Director Rajesh Kumar Saraf on May 13, 2026. The meeting will seek shareholder approval for two key special businesses: an increase in authorized share capital and a preferential issue of equity shares to the promoter group.

Increase in Authorized Share Capital

The board has proposed increasing the authorized share capital of National Oxygen Limited from Rs. 17,10,00,000 to Rs. 18,10,00,000, representing an addition of Rs. 1,00,00,000 comprising 10,00,000 new equity shares of Rs. 10 each. The revised capital structure will comprise 61,00,000 equity shares of Rs. 10 each and 12,00,000 preference shares of Rs. 100 each. This increase will necessitate a consequential alteration of Clause V of the Memorandum of Association (MOA) of the Company, which requires member approval by way of an Ordinary Resolution under Sections 13 and 61 of the Companies Act, 2013.

Preferential Issue of Equity Shares

The company proposes to issue 9,50,000 equity shares on a preferential basis to Saraf Housing Development Private Limited, a promoter group entity, for cash. The issue price has been fixed at Rs. 93.80 per share, including a premium of Rs. 83.80 per share, aggregating to Rs. 8,91,10,000. The issue price is not less than the minimum price of Rs. 73.80 per share as determined by Independent Registered Valuer CA S. Dehaleesan (Registered Valuer Number: IBBI/RV/04/2019/11659) in a valuation report dated April 28, 2026, in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The relevant date for determining the minimum issue price is Tuesday, April 28, 2026, being 30 days prior to the EGM date.

The following table summarizes the key terms of the preferential issue:

Shareholding Pattern: Pre and Post Preferential Issue

The preferential allotment will result in a change in the shareholding pattern of the company. The total post-issue paid-up equity share capital will increase from 50,42,385 shares to 59,92,385 shares. The promoter and promoter group holding is expected to increase from 69.63% to 74.45% post-allotment, while public shareholding will correspondingly decrease from 30.37% to 25.55%.

Specifically, Saraf Housing Development Private Limited's stake will increase from 4,92,999 shares (9.78%) to 14,42,999 shares (14.59%) post-allotment. The board has confirmed that the allotment will not result in any change in control of the company. The proceeds from the preferential issue are intended to be utilized primarily for incremental working capital requirements, general corporate purposes, and repayment or prepayment of existing borrowings.

E-Voting and EGM Schedule

Central Depository Services (India) Limited (CDSL) has been engaged to provide e-voting services and VC/OAVM facility for the EGM. Mr. S. Vasudevan of M/s. Lakshmmi Subramanian & Associates, Practicing Company Secretaries, Chennai, has been appointed as the Scrutinizer for the e-voting process. The key dates for the EGM process are as follows:

Equity shares allotted under the preferential issue shall be subject to lock-in as prescribed under Regulation 167(1) and (2) of SEBI ICDR Regulations, 2018. The allotment is required to be completed within 15 days from the date of passing of the Special Resolution by members, or within 15 days from the date of receipt of any pending regulatory approvals, whichever is applicable. The company has confirmed that no preferential allotments have been made during the year, and neither the company nor its promoters are willful defaulters or fugitive economic offenders.