Oswal Agro Mills Ltd has appointed Vimal Bhatnagar, Prerna Singh, and Babu Ram Somani as Additional Non-Executive Independent Directors on its Board for a term of one year effective June 11, 2026. The appointments, subject to shareholder approval at the ensuing Annual General Meeting, were approved by the Board based on the recommendation of the Nomination and Remuneration Committee. The company disclosed these changes pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Appointment Details

The three new directors join the Board to strengthen governance and oversight. Their appointments follow the regulatory framework and require ratification by shareholders. The company confirmed that none of the appointees are related to existing directors on the Board.

Director Profiles

Mr. Vimal Bhatnagar holds a Master of Commerce from Himachal University, a CFA from ICFAI, and a Diploma in Business Finance. He began his career in 1994 as a Faculty of Accounts and currently serves as an Independent Director at Vegorama Punjabi Angithi Limited.

Ms. Prerna Singh is a practising Company Secretary with over nine years of experience in corporate governance and statutory compliance. She holds a Bachelor of Commerce from Delhi University and is currently an Independent Director at AK Infradream Limited.

Mr. Babu Ram Somani is a qualified Chartered Accountant with experience advising industries in manufacturing, FMCG, and import-export sectors. His expertise includes direct and indirect taxation, project finance, and compliance.

The company confirmed that none of the appointees are debarred from accessing the capital markets or restrained from holding director positions by any regulatory authority.

Oswal Agro Mills Limited reported a 92.08% decline in net profit for the financial year ended March 31, 2026, to ₹861.98 lakh, down from ₹10,882.44 lakh in the previous year. The steep decline was primarily due to an exceptional provision of ₹571.79 lakh made against an inter-corporate deposit extended to Eternys Infra Private Limited. Revenue from operations for the year stood at ₹1,925.75 lakh, a significant decrease from ₹16,176.69 lakh in FY25. The company disclosed the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, in a meeting held on May 26, 2026. The results were published in newspapers on May 27, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Standalone Financial Performance

The company recorded a total income of ₹3,757.42 lakh for FY26, compared to ₹17,368.38 lakh in the previous year. Total expenses for the year were ₹1,894.49 lakh, lower than the ₹2,811.01 lakh reported in FY25. The profit before exceptional items and tax was ₹1,862.93 lakh. After accounting for the exceptional provision of ₹571.79 lakh, the profit before tax stood at ₹1,291.14 lakh.

For the quarter ended March 31, 2026, the company reported a net loss of ₹477.80 lakh, compared to a net profit of ₹6,334.53 lakh in the same quarter of the previous year. Revenue from operations for the quarter was ₹1.83 lakh, significantly lower than the ₹9,848.93 lakh recorded in Q4 FY25.

Exceptional Item and Auditor's Report

The company made a full provision of ₹571.79 lakh, including interest receivable, against an inter-corporate deposit of ₹5,71,78,641 extended to Eternys Infra Private Limited. The provision was made due to significant uncertainty regarding the recoverability of the deposit and the absence of any repayment of principal or interest. Consequently, the carrying value of the deposit was reduced to Nil.

In the consolidated financial results, the company reported a net loss of ₹2,203.15 lakh for FY26, compared to a net profit of ₹11,283.61 lakh in the previous year. The qualified opinion on the consolidated results highlighted that the associate company had not charged interest on certain inter-corporate deposits pending a court judgment, understating profit after tax and investments. Additionally, auditors noted they were unable to determine the recoverability of ICDs and real estate advances aggregating ₹1,22,676.83 lakh granted by the associate company.

Segment Performance

The company operates across Trading, Investment Activities, and Real Estate segments. For FY26, the Investment Activities segment reported a revenue of ₹1,854.73 lakh, while the Real Estate segment contributed ₹1,905.41 lakh. The Trading segment revenue was ₹0.44 lakh. The total assets as of March 31, 2026, stood at ₹72,228.38 lakh on a standalone basis and ₹90,160.28 lakh on a consolidated basis.