Oswal Agro Mills FY26 net profit falls 92% on ICD provision
Oswal Agro Mills Limited reported a 92.08% decline in net profit for FY26 to ₹861.98 lakh, driven by a ₹571.79 lakh provision against an inter-corporate deposit. Revenue from operations fell to ₹1,925.75 lakh from ₹16,176.69 lakh in FY25. The consolidated results showed a net loss of ₹2,203.15 lakh, with auditors raising concerns about the recoverability of deposits and advances.
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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.
| Metric | FY26 (₹ In Lakhs) | FY25 (₹ In Lakhs) |
|---|---|---|
| Revenue from operations | 1,925.75 | 16,176.69 |
| Total Income | 3,757.42 | 17,368.38 |
| Total Expenses | 1,894.49 | 2,811.01 |
| Profit before tax | 1,291.14 | 14,557.37 |
| Net Profit/(Loss) | 861.98 | 10,882.44 |
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.
Historical Stock Returns for Oswal Agro Mills
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.55% | -5.89% | -11.11% | -28.00% | -54.68% | +240.95% |
What is the likelihood of recovering the written-off inter-corporate deposit from Eternys Infra Private Limited?
How will the management address the operational collapse that caused revenue to drop from ₹16,176.69 lakh to ₹1,925.75 lakh?
What specific steps will be taken to resolve the auditor's concerns regarding the associate company's uncharged interest and unrecoverable advances?
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