Oswal Greentech Posts FY26 Net Loss on ₹101.22 Crore Exceptional Provision
Oswal Greentech reported a net loss of ₹6,241.86 lakh for FY26, reversing a profit of ₹853.21 lakh in FY25, driven by a ₹10,122.19 lakh exceptional provision against unconfirmed ICDs and real estate advances. Q4 FY26 saw revenue of ₹1,076.19 lakh and a PBT loss of ₹1,760 lakh versus a loss of ₹30 lakh a year ago. The company also disclosed an estimated ₹14.58 crore fraud and is contesting an arbitration award at the Delhi High Court.
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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:
| Metric: | FY26 (₹ In Lakhs) | FY25 (₹ In Lakhs) |
|---|---|---|
| Revenue from Operations: | 3,680.69 | 3,525.26 |
| Total Income: | 10,549.31 | 9,272.71 |
| Total Expenses: | 6,348.59 | 8,290.55 |
| Profit Before Tax: | (5,921.47) | 982.16 |
| Net Profit/(Loss): | (6,241.86) | 853.21 |
| Basic EPS: | (2.43) | 0.33 |
Key quarterly metrics are summarised below:
| Metric: | Q4 FY26 | Q4 FY25 |
|---|---|---|
| Revenue from Operations: | ₹1,080 lakh | ₹1,980 lakh |
| PBT: | Loss of ₹1,760 lakh | Loss of ₹30 lakh |
| Exceptional Item: | ₹10,122.19 lakh | — |
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.
Historical Stock Returns for Oswal Greentech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.08% | +2.50% | -5.59% | -28.10% | -44.64% | -11.69% |
Will Oswal Greentech be able to recover any portion of the ₹1,22,676.83 lakh in unconfirmed ICDs and real estate advances, and what legal mechanisms are available to pursue these recoveries?
How might the ongoing arbitration challenge at the Delhi High Court regarding the ₹37,495.27 lakh shortfall impact the company's financial position if the appeal is unsuccessful?
Could the modified audit opinion and the scale of unverified inter-corporate deposits trigger regulatory scrutiny from SEBI or other market authorities, potentially affecting the company's listing status?
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