Om Infra Limited (formerly known as OM Metals Infraprojects Limited) has notified the stock exchanges of an upcoming Board of Directors meeting, in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation, dated May 6, 2026, was addressed to both the Bombay Stock Exchange and the National Stock Exchange of India Limited.

Board Meeting Details

The meeting of the Board of Directors is scheduled to be held on May 13, 2026. The key agenda items for the meeting are outlined below:

Agenda at a Glance

The board will convene to address the following key matters:

• Consider and approve the audited financial results (Standalone & Consolidated) for the quarter and year ended March 31, 2026
• Review and adopt the Audit Report accompanying the financial results
• Deliberate on the recommendation of a final dividend for the Financial Year 2025-26, if any

Regulatory Compliance

The intimation has been filed in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to notify stock exchanges in advance of board meetings where financial results or dividend recommendations are to be considered. The notice was signed by Vikas Kothari, Managing Director & CEO (DIN: 00223868) on behalf of Om Infra Limited.

Om infra Limited has received a credit rating downgrade from CARE Ratings, reflecting deteriorated financial performance and operational challenges in the current fiscal year. The infrastructure company, which specializes in hydro-mechanical and water supply projects, faces headwinds from delayed project execution and stretched liquidity conditions.

Rating Revision Details

CARE Ratings has revised the company's credit ratings across multiple facilities, marking a significant downgrade in its risk assessment:

The rating agency cited deterioration in financial performance and risk profile in 9MFY26 as the primary driver for the downgrade, particularly noting challenges in the execution of Jal Jeevan Mission projects due to delayed government approvals.

Financial Performance Decline

The company's financial metrics showed significant deterioration during 9MFY26, reflecting operational challenges and market conditions:

The decline in Total Operating Income was primarily attributed to slower execution of Jal Jeevan Mission projects in Q2FY26 and Q3FY26 due to extended monsoon conditions and lower release of funds by the government. The company's revenue is mainly derived from engineering, procurement and construction of hydro power, irrigation and water supply projects.

Operational Challenges and Strengths

Despite the rating downgrade, Om Infra maintains several operational strengths that support its market position. The company has an outstanding order book of approximately ₹2,500 crore as of December 31, 2025, equivalent to 3.8 times its total operating income in FY25. This order book includes Jal Jeevan Mission projects aggregating ₹1,350 crore, providing medium-term revenue visibility subject to timely fund releases.

However, the company faces significant challenges including elevated receivables of ₹277.92 crore as of December 31, 2025, comprising unbilled revenue and retention money. The average collection period has elongated from 84 days in FY24 to 143 days in FY25, contributing to working capital pressures.

Group Company Exposure and Liquidity Position

The rating agency highlighted concerns about the company's high exposure to group companies, which accounted for 58% of tangible net worth as of March 31, 2025. While this represents a marginal reduction from 61% in the previous year, the exposure remains substantial with significant concentration in Om Metal Consortium Private Limited and Bhilwara Jaipur Toll Road Private Limited.

The company's liquidity position is characterized as stretched, with Gross Cash Accruals of ₹9.25 crore in 9MFY26 against debt repayment obligations of approximately ₹8.00 crore in FY26. Fund-based limit utilization remained high at 95.61% for the trailing six months ended December 2025.

Rating Outlook and Sensitivities

CARE Ratings has maintained a stable outlook based on the experienced promoters and the company's strong market position with an established track record in executing hydro-mechanical projects. The rating agency identified several factors that could influence future rating actions, including improvement in scale of operations with sustained profitability margins and reduction in working capital cycle leading to better liquidity profile.