Oswal Overseas Limited reported a widened net loss of ₹916.99 lakh for the financial year ended March 31, 2026, as revenue from operations declined sharply to ₹400.94 lakh from ₹6762.63 lakh in the previous year. The company's Board of Directors approved the standalone audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026. The financial performance reflects significant operational challenges, with the Sugar Division and Power Division both reporting losses before tax and finance costs.

The statutory auditors, DSRV AND COMPANY LLP, issued a qualified opinion on the financial statements, drawing attention to the company's negative net worth of ₹955.58 lakh and cash losses of ₹504.39 lakh for the current year and ₹829.36 lakh in the immediately preceding year. The auditors noted that these conditions, along with a working capital deficiency where current liabilities of ₹7058.66 lakh far exceed current assets of ₹619.77 lakh, indicate a material uncertainty that casts significant doubt on the company's ability to continue as a going concern. The auditors highlighted that no production has taken place and there are no fresh borrowings or additions to fixed assets.

Financial Performance

The company's total revenue for FY26 stood at ₹460.86 lakh, a steep drop from ₹6809.31 lakh in the previous year. Total expenses for the year were reported at ₹1379.60 lakh. For the quarter ended March 31, 2026, the company recorded a net loss of ₹285.71 lakh on a total revenue of ₹235.46 lakh. The basic and diluted earnings per share (EPS) for the year were reported at -₹7.06, compared to -₹9.57 in the prior year.

Segment Reporting

The Sugar Division, the primary business segment, reported a segment revenue of ₹400.94 lakh for the year but incurred a loss before tax and finance costs of ₹626.39 lakh. The Power Division recorded a revenue of ₹21.45 lakh and a loss of ₹81.59 lakh. The company noted that the sugar industry is seasonal, with crushing typically occurring between November and April, which contributes to quarterly performance variations.

Auditor and Governance Appointments

In addition to the financial results, the Board appointed M/s M K Singhal & Co., Cost Accountants, as the Cost Auditor for the Financial Year 2026-27, subject to ratification by members. The Board also appointed M/s P. D. Ramanand & Co., Chartered Accountants, as the Internal Auditor for the same period. The auditors reported that the company is not currently using accounting software with an audit trail feature but is in the process of upgrading its accounting package to comply with regulatory requirements.

Oswal Overseas Limited has appointed Mr. Inder Pal Wadhwa as its Chief Financial Officer & Key Managerial Personnel effective May 28, 2026. The appointment was approved by the Board of Directors during a meeting held on the same day, following the recommendation of the Nomination and Remuneration Committee. This move is intended to strengthen the company's financial framework and support strategic decision-making.

The Board meeting commenced at 04:00 PM and concluded at 04:45 PM. The appointment was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Mr. Wadhwa brings over 10 years of experience in accounting and banking operations. His expertise includes financial management, banking coordination, bookkeeping, account reconciliation, and cash flow monitoring. He is expected to play a key role in ensuring compliance and enhancing the company's financial administration.

The details of the appointment were disclosed in an intimation sent to BSE Limited. The company's scrip code is 531065. The appointment is effective immediately, and Mr. Wadhwa is expected to contribute significantly to the organization's financial discipline and operational finance management.

Appointment Details