Oil Country FY26 net loss widens to ₹6,148.24 lakh
Oil Country Tubular Limited reported a widened net loss of ₹6,148.24 lakh for FY26, compared to ₹3,186.12 lakh in the previous year. Revenue from operations declined to ₹7,009.41 lakh. The Board also appointed a new CFO and approved a director's designation change.
*this image is generated using AI for illustrative purposes only.
Oil Country Tubular Limited has announced its audited financial results for the quarter and year ended March 31, 2026, reporting a widened net loss for the fiscal year. The company recorded a net loss of ₹6,148.24 lakh for FY26, a significant increase from the net loss of ₹3,186.12 lakh in the previous year. Total income for the year declined to ₹7,181.12 lakh from ₹12,576.76 lakh in the corresponding period of the previous year.
Financial Performance
The company's standalone financial results revealed that revenue from operations for the year ended March 31, 2026, was ₹7,009.41 lakh, a decrease from ₹12,290.31 lakh in the prior year. For the quarter ended March 31, 2026, the company reported a net loss of ₹1,363.64 lakh on a total income of ₹3,041.09 lakh. The EBITDA for the year ended March 31, 2026, was reported at ₹630.32 lakh.
| Particulars | Year Ended 31.03.2026 (₹ in Lakhs) | Year Ended 31.03.2025 (₹ in Lakhs) |
|---|---|---|
| Total Income | 7,181.12 | 12,576.76 |
| Total Expenses | 13,616.66 | 15,486.83 |
| Net Profit / (Loss) | (6,148.24) | (3,186.12) |
| Earnings Per Share (Basic) | (12.01) | (7.10) |
Board Appointments and Changes
During its meeting held on May 21, 2026, the Board of Directors approved several key managerial appointments. Based on the recommendation of the Nomination and Remuneration Committee, the Board appointed Mr. Ramamuni Reddy Jampanapalle as the Chief Financial Officer (CFO) and Key Managerial Personnel of the company, effective May 21, 2026. Mr. Jampanapalle brings over 35 years of experience in accountancy, finance, and accounts management.
Additionally, the Board approved the change in designation of Mr. Paruchuri Dheeraj Chowdary from Non-Executive Non-Independent Director to Whole Time Director of the company. This appointment is for a period of three years, effective from June 01, 2026, to May 31, 2029, subject to the approval of the members in the ensuing Annual General Meeting. Mr. Chowdary is the son-in-law of Mr. Shashidhar Kamineni, Director of the company.
Auditor Update
The company informed the exchanges that its Statutory Auditors, C K S Associates, Chartered Accountants, have converted into a Limited Liability Partnership (LLP) and are now known as C K S Associates LLP, Chartered Accountants. The company confirmed that this conversion does not result in any change to the existing audit engagement or partners, and the firm will continue to discharge its obligations as Statutory Auditors for the remaining period of the tenure.
Historical Stock Returns for Oil Country Tubular
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.89% | -3.49% | -8.91% | -8.94% | -16.65% | +670.34% |
What specific turnaround strategies will the newly appointed CFO and Whole Time Director implement to reverse the widening net losses and declining revenue trajectory at Oil Country Tubular Limited?
How might the significant revenue decline from ₹12,290 lakh to ₹7,009 lakh impact the company's ability to secure new orders or credit facilities in the near term?
Could the appointment of Mr. Paruchuri Dheeraj Chowdary, who has a familial connection to an existing director, raise corporate governance concerns among institutional investors or proxy advisory firms?
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