Oswal Greentech Limited Chief Financial Officer Moxit Modi resigned from his position effective June 2, 2026, due to personal and family commitments. The resignation was submitted to the Board of Directors and marks the cessation of his role as a Key Managerial Personnel under the Companies Act, 2013, and SEBI Listing Regulations, 2015.

The company informed the stock exchanges that Mr. Modi was relieved from his duties at the end of business hours on June 2, 2026. Consequently, he ceased to be a Key Managerial Personnel for determining the materiality of any event or transaction for disclosures to the Stock Exchanges effective from the close of business hours on that date.

Resignation Details

The disclosure regarding the resignation was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed reason for the change was provided in an annexure submitted to the exchanges.

Mr. Modi confirmed in his resignation letter that June 2, 2026, would be his last working day with the company. He expressed gratitude for the opportunities and professional experience gained during his tenure and committed to ensuring a smooth transition of responsibilities by handing over all relevant documents and records.

Oswal Greentech Limited reported a net loss of ₹6,241.86 lakh for the financial year ended March 31, 2026, a sharp decline from the net profit of ₹853.21 lakh recorded in the previous year. The loss was driven by an exceptional item of ₹10,122.19 lakh, representing a full provision made against inter-corporate deposits (ICDs) and real estate advances due to significant uncertainty regarding recoverability. Revenue from operations for the year stood at ₹3,680.69 lakh, while total income increased to ₹10,549.31 lakh from ₹9,272.71 lakh in the prior year.

The Board of Directors, in its meeting held on May 26, 2026, approved the annual audited financial results, which were reviewed by the Audit Committee. M/s Mehta Chokshi & Shah LLP, Statutory Auditors, issued an audit report with a modified opinion. The qualification arose primarily because the company had not received confirmations for ICDs and real estate advances aggregating ₹1,22,676.83 lakh, preventing auditors from verifying the balances or assessing the need for further provisions.

Financial Performance

The company's total expenses for FY26 decreased to ₹6,348.59 lakh from ₹8,290.55 lakh in the prior year. However, the exceptional provision for ICDs extended to Uppal Chadha Hi-Tech Developers Private Limited and SAS Servizio Private Limited, totaling ₹101.22 crore, severely impacted the bottom line. Consequently, the basic and diluted earnings per share (EPS) for the year stood at (₹2.43), compared to ₹0.33 in FY25.

For the quarter ended March 31, 2026, the company reported a net loss of ₹8,315.70 lakh, with profit before tax (PBT) recording a loss of ₹1,760 lakh against a loss of ₹30 lakh in the same quarter of the previous year. Revenue from operations for the quarter was ₹1,076.19 lakh versus ₹1,980 lakh in the year-ago period, while total income was ₹3,435.09 lakh. The quarterly performance was also impacted by the exceptional provision of ₹10,122.19 lakh recognized during the period.

The following table summarises the full-year financial performance:

Key quarterly metrics are summarised below:

Fraudulent Conduct and Legal Proceedings

Oswal Greentech disclosed alleged fraudulent and unauthorized acts involving Mr. Vishnu Prasad Muddana, a former authorized representative, concerning a proposed property transaction for land situated at Rishra Village, West Bengal. The company estimated the impact of this fraud at ₹14.58 crore. Mr. Muddana, who previously served as the Chief Financial Officer of Oswal Agro Mills Limited from January 28, 2025, to July 07, 2025, allegedly engaged in collusion and misrepresentation regarding the property despite the termination of his authority.

The company has issued a legal notice and initiated appropriate legal proceedings before competent authorities. The matter has been reported to the relevant authorities, and an FIR has been sought at the Serampore Police Station to restrain unauthorized activities and recover losses. Additionally, the company is involved in an arbitration dispute regarding interest charged on inter-corporate deposits, where an award of ₹9,717.00 lakh was passed against a claim of ₹47,212.27 lakh, resulting in a shortfall of ₹37,495.27 lakh. The company has challenged this award at the Hon'ble High Court of New Delhi.