Orosil Smiths India Receives ₹1 Crore Payment After ₹20 Crore Default Crisis

Orosil Smiths India Limited has received a partial payment of ₹1.00 crore from the buyer towards the remaining sale consideration for its Noida property, marking a positive development following a significant payment default crisis.

Original Property Deal Structure

The company had entered into an agreement to sell its property located at A-89, Sector-2, Noida – 201301 to Mr. Sanidhya Garg for a total consideration of ₹27.00 crore. The original payment structure included:

Payment Component:	Amount (₹ crore)
Advance Payment:	5.00
Post-dated Cheques:	20.00
Registration Payment:	2.00
Total Consideration:	27.00

Payment Default Crisis

The transaction faced a major setback when all four post-dated cheques totaling ₹20.00 crore were returned unpaid due to insufficient funds:

Cheque Number:	Amount (₹ crore)
000881:	5.00
000884:	5.00
000885:	5.00
000886:	5.00
Total Defaulted:	20.00

Recent Payment Recovery

In a positive development, the company has now received an additional payment of ₹1.00 crore from Mr. Sanidhya Garg towards the remaining sale consideration. This payment comes after the company's efforts to pursue the matter and protect its interests following the earlier default.

Current Payment Status

Payment Status:	Amount (₹ crore)
Initial Advance:	5.00
Recent Payment:	1.00
Total Received:	6.00
Outstanding Amount:	21.00

Regulatory Compliance and Future Updates

The company has been maintaining transparency through regular communications to the BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. OSIL has committed to informing the stock exchange about further developments in this property sale transaction as they occur.

This partial payment recovery demonstrates the company's ongoing efforts to resolve the payment default situation and secure its financial interests in the property transaction.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.25%	+2.02%	+7.31%	+1.79%	+14.61%	+37.88%

Orosil Smiths , a New Delhi-based company listed on the BSE under scrip code 531626, has reported a significant increase in total income for the first quarter. However, the company's net profit saw a decline compared to the previous quarter.

Revenue Soars

The company's total income for Q1 stood at Rs. 97.49 lakhs, marking a substantial rise from Rs. 4.89 lakhs in the same quarter of the previous fiscal year. This represents a year-on-year growth of nearly 1,894%, indicating a remarkable improvement in the company's top-line performance.

Profit Declines

Despite the impressive revenue growth, Orosil Smiths experienced a decrease in its net profit after tax. The company reported a net profit of Rs. 3.44 lakhs for Q1, down from Rs. 81.07 lakhs in the previous quarter. This represents a significant quarter-on-quarter decline in profitability.

Key Financial Metrics

Metric	Q1 (Current)	Q1 (Previous Year)	Change
Total Income	97.49	4.89	1,894%
Net Profit	3.44	-	-
EPS	0.01	-	-

All figures in Rs. lakhs, except EPS in Rs.

The company's earnings per share (EPS) for the quarter stood at Rs. 0.01.

Regulatory Compliance

In compliance with SEBI regulations, Orosil Smiths has published its revised unaudited financial results for the quarter ended June 30, in both Hindi and English newspapers. The company has also filed these results with the stock exchange, as confirmed in their LODR (Listing Obligations and Disclosure Requirements) filing.

The full details of the quarterly financial results are available on the BSE website and the company's official website at www.orosil.com .

Investors and stakeholders are advised to review the complete financial statements for a comprehensive understanding of the company's performance and financial position.