Oil Country Tubular Limited will hold its 40th Annual General Meeting (AGM) on Wednesday, August 12, 2026, at 11:00 AM IST through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The meeting is being conducted in compliance with Ministry of Corporate Affairs General Circular No. 03/2025 dated September 22, 2025, which permits companies to hold AGMs without the physical presence of members at a common venue.

The Notice of the AGM and the Annual Report for the Financial Year 2025-26 will be dispatched only through electronic mode to members whose email addresses are registered with the company or its Registrar and Share Transfer Agent, National Securities Depository Limited (NSDL) or Central Depository Services (India) Limited (CDSL). For members without registered email addresses, a letter containing the web link and QR Code for accessing the documents will be sent. The documents will also be available on the company's website, the websites of National Stock Exchange of India Limited and BSE Limited, and the website of XL Softech Systems Limited.

Members can participate in the voting process through the remote e-voting facility before the AGM or through the e-voting facility during the AGM, referred to as "Insta Poll". Detailed procedures for attending the meeting and voting will be provided in the Notice of the AGM. Shareholders holding shares in dematerialised form are requested to register or update their details with their respective Depository Participants, while those holding physical shares must submit the prescribed Form ISR-1 to the company's Registrar and Share Transfer Agent.

The company has requested members to register or update their email addresses to ensure timely delivery of the notices. Queries regarding email registration, participation, or voting may be directed to xlfield@gmail.com or demat@octindia.com .

Oil Country Tubular Limited narrowed its net loss to Rs 13.64 crore for the quarter ended March 31, 2026, compared to a net loss of Rs 10.54 crore in the corresponding quarter of the previous year. The company reported revenue from operations of Rs 298.56 crore for Q4FY26, a decline from Rs 343.34 crore in Q4FY25. For the full fiscal year ended March 31, 2026, the company recorded a net loss of Rs 61.48 crore, widening from the previous year's loss of Rs 31.86 crore, with total income for the year standing at Rs 718.11 crore.

The Board of Directors took the results on record at its meeting held on May 21, 2026. Statutory auditors C K S Associates LLP conducted an audit review of the quarterly and annual financial results. In their report, the auditors stated that the results give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards.

Financial Performance

The company’s expenses for the quarter totaled Rs 454.87 crore, slightly lower than Rs 473.45 crore in the same quarter last year. Key expense components included depreciation and amortisation expenses of Rs 175.10 crore and employee benefits expenses of Rs 30.09 crore. For the year ended March 31, 2026, total expenses amounted to Rs 1,361.67 crore.

The Earnings Per Share (EPS) for the quarter was reported at (2.62) on a basic basis and (2.35) on a diluted basis. For the full year, the basic EPS stood at (12.01), while the diluted EPS was (10.58). The EBITDA for the year ended March 31, 2026, was Rs 630.32 lakhs.

Capital Structure and Segment Performance

During the year under review, the company issued and allotted 41,50,000 equity shares of face value of Rs 10 each fully paid up, pursuant to the conversion of Optionally Convertible Preference Shares (OCPS) to Equity Shares at a premium of Rs 55 each on May 8, 2025. Consequently, the paid-up equity share capital increased to Rs 519.90 crore as of March 31, 2026, from Rs 478.40 crore in the previous year.

Segment-wise revenue for the year was driven primarily by Drill Pipe and Allied Products, which contributed Rs 507.06 crore, while OCTG Services contributed Rs 193.88 crore. The Drill Pipe and Allied Products segment reported a loss before interest and tax of Rs 470.19 crore for the year, while the OCTG Services segment reported a loss of Rs 179.79 crore.

Assets and Liabilities

The company’s total assets as of March 31, 2026, stood at Rs 3,137.70 crore, a decrease from Rs 3,820.10 crore in the previous year. Non-current assets, which include property, plant, and equipment, were valued at Rs 2,448.47 crore. Current assets decreased to Rs 689.22 crore from Rs 732.55 crore in the prior year.

On the liabilities side, total equity and liabilities stood at Rs 3,137.70 crore. Equity share capital increased to Rs 519.90 crore, while other equity decreased to Rs 1,454.31 crore. Non-current liabilities were reduced to Rs 975.85 crore from Rs 1,153.81 crore, and current liabilities decreased significantly to Rs 187.65 crore from Rs 352.08 crore.