Omkar Speciality Chemicals Limited's board approved the sale of two properties located at the MIDC Industrial Area in Badlapur, District Thane, on June 25, 2026. The decision aims to divest specific land holdings to streamline the company's asset portfolio. The approval was conveyed by Mahendra Kumar Jain, Additional Director of Omkar Speciality Chemicals Limited.

Properties Approved for Sale

The board sanctioned the sale of the following plots:

Regulatory Disclosures

The company stated that it will inform the stock exchanges about further developments regarding these sale transactions. Necessary disclosures will be made in accordance with applicable regulations. The filing was submitted to BSE Limited and National Stock Exchange of India Limited on June 25, 2026.

Omkar Speciality Chemicals Limited reported losses for multiple periods in FY26 while under the Corporate Insolvency Resolution Process (CIRP), with its net worth turning negative and indicating material uncertainty regarding its status as a going concern. The company's financial results for the quarter ended 30 June 2025, and the quarter and half-year ended 30 September 2025, and the quarter and nine months ended 31 December 2025, were reviewed by R.R. Tibrewala & Co., Chartered Accountants. The auditor issued a qualified conclusion, noting that the financial results were prepared on a going concern basis considering the approval of a resolution plan by the Hon’ble NCLT on 31 July 2025, subsequent to the reporting periods.

R.R. Tibrewala & Co. conducted the review in accordance with the Standard on Review Engagement (SRE) 2410, issued by the Institute of Chartered Accountants of India. The review was performed to obtain moderate assurance as to whether the statement of unaudited financial results was free of material misstatement. The report was submitted pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Audit Observations

The auditor highlighted several factors in the Basis for Qualified Conclusion across the reviewed periods:

• The company was under CIRP during the period under review for the quarter ended 30 June 2025.
• The company has not prepared financial results for the first three quarters of the financial year 2024-25, and hence comparative quarterly figures are not available.
• The company incurred losses during the quarter ended 30 June 2025, and its net worth is negative.
• The company reported losses during the periods ended 30 September 2025 and 31 December 2025.

Regulatory and Legal Context

The Emphasis of Matter paragraph in the reports draws attention to Note 4 of the financial results regarding the approval of the Resolution Plan by the NCLT on 31 July 2025. The auditor clarified that their conclusion is not modified in respect of this matter. The reports were signed by CA Nirmal K. Khetan, Partner, on 27 May 2026 in Mumbai.