Oriental Aromatics Limited achieved a consolidated revenue milestone of ₹1,000 crore for the first time in FY26, despite challenging global market conditions. The company highlighted this growth during its 54th Annual General Meeting (AGM) held on August 18, 2026, attributing the performance to the resilience of its integrated business model across Fragrances & Flavours, Specialty Aroma Chemicals, and Camphor & Terpene Chemicals.

The Board of Directors recommended a final dividend of ₹0.50 per equity share for the financial year ended March 31, 2026. This payout represents a 10% dividend rate on the face value of the shares. The resolution was passed as an ordinary resolution during the meeting.

Key Operational Highlights

Chairman and Managing Director Dharmil A. Bodani emphasized disciplined capital allocation and operational efficiency as key priorities for the next phase of growth. He noted the commercialisation of the Mahad Greenfield facility as a significant step towards future expansion. Executive Director Shyamal A. Bodani added that the company is focusing on volume growth and improving margins by maximizing the potential of existing capacities through disciplined execution.

The company reported strengthening its global presence across more than 35 countries. Management identified strong growth opportunities emerging from premiumisation trends and increasing rural consumption in India.

AGM Proceedings and Governance

The AGM was conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM) in compliance with Ministry of Corporate Affairs General Circular no. 03/2025 dated September 22, 2025. The deemed venue was the company’s registered office in Mumbai.

As on the cut-off date of August 11, 2026, the company had 23,828 shareholders. A total of 52 shareholders attended the meeting via video conferencing. Remote e-voting was available from August 14, 2026, to August 17, 2026.

Resolutions Passed

Shareholders approved several ordinary and special resolutions during the meeting:

• Adoption of Annual Audited Standalone and Consolidated Financial Statements for FY26.
• Declaration of final dividend at ₹0.50 per equity share.
• Re-appointment of Mr. Satish Kumar Ray as a director retiring by rotation.
• Ratification of remuneration to M/s V. J. Talati & Co., Cost Auditors.
• Appointment of Mr. John Fitzgibbon Gloster as an Independent Director.

CS Shreyans Jain served as the Scrutinizer for the voting process. The consolidated voting results were made available on the company’s website and NSDL platform.

Oriental Aromatics reported a 42% year-on-year increase in standalone net profit to ₹815.32 lakh for the quarter ended June 30, 2026, driven by a 14.3% rise in standalone revenue to ₹2,576.68 lakh. Consolidated net profit surged 400% to ₹331.07 lakh from ₹50.39 lakh in Q1FY26. The strong performance reflects improved operational efficiency and higher sales realisations, marking a recovery in profitability after a challenging FY26.

The Board of Directors approved the unaudited financial results on July 30, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Lodha & Co. LLP, the statutory auditors, issued a limited review report with an unmodified conclusion. The company held an earnings conference call on July 31, 2026, where management detailed the drivers behind the sequential margin expansion and provided updates on the Mahad facility’s commercialization.

Financial Performance

Consolidated revenue from operations grew to ₹2,598 million (₹2,598 Mn) from ₹2,255 million in Q1FY26, representing a 15.2% year-on-year increase. Consolidated EBITDA reached ₹198 million (₹19.8 crore), up 9.4% year-on-year. The EBITDA margin expanded sequentially by 71 basis points to 7.62%, though it remained 41 basis points below the prior year level due to input cost inflation. Profit after tax stood at ₹2.51 crore compared with ₹0.5 crore in the corresponding quarter last year.

On a consolidated basis, basic and diluted earnings per share stood at ₹0.75 for the quarter, compared to ₹0.15 in the corresponding period last year. The PAT margin expanded by 74 basis points to 0.96%. Cash profit for the quarter was ₹10.2 crore, up from ₹8.72 crore in Q1FY26.

Operational Highlights

Sales volumes increased by 22% year-on-year, supported by sustained demand across aroma chemicals, camphor, fragrances, and flavours. Production volumes grew by 18% year-on-year due to healthy capacity utilisation at plants in Bareilly, Vadodara, Mahad, and Ambarnath. Sales volumes were 4% lower sequentially compared to Q4FY26, reflecting normal seasonal movements and changes in product mix. Export contribution rose to 35% of total sales in Q1FY27, up from 33% in FY26.

Mahad Facility Update

The Mahad facility continues to progress through the commercialization phase. Chairman and Managing Director Dharmil Bodani stated that the facility is currently operating at 50% to 60% capacity utilisation. Management aims to progressively move the facility towards 75% to 80% utilization, where it is expected to become EBITDA positive. Customer feedback remains encouraging, with commercial shipments progressing and participation in several global sourcing programs. However, the facility has not yet achieved the utilization levels required to fully absorb its fixed operating costs, continuing to impact consolidated profitability.

What the Numbers Show

The divergence between volume growth and margin expansion highlights the impact of input cost inflation. While sales volumes surged 22%, EBITDA margins contracted 41 basis points year-on-year due to elevated raw material costs, particularly Alpha-Pinene which has seen a 70-80% price increase over five months. However, the sequential margin expansion suggests that operational efficiency initiatives are beginning to offset cost pressures. The Net Debt-to-Equity Ratio improved to 0.56x as of June 30, 2026, reflecting disciplined capital allocation. Management indicated an effective tax rate of around 25% for FY27.