Oscar Global Limited reported a narrowed net loss of ₹1.44 lakh for the quarter ended June 30, 2026, compared to a loss of ₹3.09 lakh in the corresponding period of the previous year. The company continues to operate without any revenue-generating activities, with total income restricted to other income of ₹3.94 lakh. This financial performance reflects the ongoing transition phase following a complete change in promoter shareholding and management control during FY25-26, as highlighted in the auditor’s emphasis of matter.

The Board of Directors approved the unaudited financial results on August 12, 2026, pursuant to Regulation 33 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In addition to the financials, the Board approved a change in designation for Gopal Bhattar (DIN: 07465307), moving him from non-executive non-independent director and CFO to Whole Time Director. This appointment is subject to approval by shareholders at the upcoming 35th Annual General Meeting.

Financial Performance Overview

The company recorded no revenue from operations for the quarter, consistent with its status as an entity that has not undertaken significant revenue-generating operations in recent years. Total expenses stood at ₹5.38 lakh, driven primarily by other expenses of ₹4.61 lakh and employee benefits expense of ₹0.77 lakh. Depreciation and amortisation expense was nil for the current quarter, whereas it was ₹0.03 lakh in the previous quarter ended March 31, 2026.

What the Numbers Show

The narrowing of the net loss from ₹3.09 lakh to ₹1.44 lakh year-on-year is primarily attributable to a reduction in employee benefits expense, which fell from ₹2.64 lakh to ₹0.77 lakh. This suggests a leaner operational cost structure under the new management regime. However, with zero revenue from operations, the company remains dependent on other income to offset its fixed costs. The paid-up equity share capital remained unchanged at ₹329.18 lakh, indicating no fresh equity infusion during the quarter. The earnings per share stood at a loss of ₹0.04, improving from a loss of ₹0.09 in the prior year quarter.

Auditor’s Report and Going Concern

D.V. Mittal & Co., Chartered Accountants, issued a limited review report stating that the financial results give a true and fair view of the net loss. The auditor included an emphasis of matter noting the complete change in promoter shareholding during FY25-26 via Share Purchase Agreements dated September 30, 2025, and the subsequent resignation of erstwhile promoters and independent directors in April 2026. Despite the lack of significant revenue-generating operations, the financial results were prepared on a going-concern basis, based on the new management’s future business plans.

Oscar Global Limited has announced that its board of directors will meet on Friday, May 29, 2026. The meeting has been convened in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to discuss several key business proposals.

Agenda for the Board Meeting

The primary focus of the meeting will be to evaluate and discuss potential acquisition opportunities to further the company's business. The board will consider authorising key managerial personnel to advance the evaluation process and take necessary actions.

Capital Restructuring Proposals

A significant agenda item involves the approval to increase the authorised share capital. The company proposes to raise the capital from ₹33,000,000 divided into 3,300,000 equity shares of ₹10 each to ₹1,100,000,000 divided into 110,000,000 equity shares of ₹10 each. This increase is subject to shareholder approval.

The board will also consider altering the Memorandum of Association (MoA) and Articles of Association (AoA) to align with business requirements and the Companies Act, 2013. These alterations will also require shareholder consent via a special resolution at the ensuing Annual General Meeting.

Fund Raising Plans

To support business expansion, acquisitions, and working capital needs, the board plans to evaluate a proposal for raising funds. The in-principle approval seeks to raise up to ₹2.45 crore through the issue of equity shares or convertible securities. Modes of issuance under consideration include preferential issue, rights issue, Qualified Institutional Placement (QIP), or other permissible methods.

Other Business

The board will approve the opening of a new current account and authorise signatories for its operation. The trading window for dealing in the company's securities will remain closed for all designated persons from May 29, 2026, until 48 hours after the board meeting outcome is submitted to the stock exchange.