Date: 17th September, 2026

Board Meeting Outcomes

The Board of Directors meeting was held on 17th September, 2026, commencing at 10:30 AM and concluding at 3:30 PM. The Board considered and approved the unaudited Standalone Financial Results of the Company for the quarter ended 30th June, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Results (Standalone)

Income Statement Highlights (₹ in Lakhs)

Quarter Ended 30th June, 2026 (Reviewed)

  • Revenue from Operations (Sales/Income from operations): ₹2,864.71
  • Other Income: ₹84.06
  • Total Income: ₹2,948.77
  • Total Expenses: ₹2,469.91
  • Profit before Exceptional Items & Tax: ₹478.85
  • Exceptional Items: ₹0.00
  • Profit before Tax: ₹478.85
  • Tax Expenses: ₹133.58 (Current Tax: ₹124.50, Deferred Tax: ₹9.08)
  • Net Profit after tax for the period: ₹345.28
  • Other Comprehensive Income (after tax): ₹0.00
  • Total Comprehensive Income for the period: ₹345.28
  • Earnings per share (Basic and Diluted): ₹5.75 (not annualized)

Comparative Figures

Quarter Ended 31st March, 2026 (Reviewed)

  • Revenue from Operations: ₹2,899.50
  • Net Loss after tax: ₹(760.69)
  • EPS: ₹(12.68)

Quarter Ended 30th June, 2025 (Reviewed)

  • Revenue from Operations: ₹1,937.03
  • Net Loss after tax: ₹(278.61)
  • EPS: ₹(4.64)

Year Ended 31st March, 2026 (Audited)

  • Revenue from Operations: ₹9,409.85
  • Net Loss after tax: ₹(290.78)

Balance Sheet Highlights (₹ in Lakhs)

As of 30th June, 2026

  • Paid-up Equity Share Capital: ₹60.00 (Face Value: Re. 1/- each)
  • Reserves excluding revaluation reserves: ₹(5,178.47)

Expense Breakdown (₹ in Lakhs) for Q1 FY2027

  • Changes in inventories: ₹(518.67)
  • Employee benefits expenses: ₹395.84
  • Finance Cost: ₹481.17
  • Depreciation & amortization: ₹26.59
  • Other Expenses: ₹2,084.99

Segment-wise Performance (Q1 FY2027)

Revenue by Business Segment (₹ in Lakhs)

  • Iron Ore: ₹2,064.71
  • Manganese Ore: ₹0.00
  • Sponge Iron: ₹84.06
  • Un-allocated: ₹2,948.77
  • Total Revenue: ₹2,948.77
  • Less: Inter-segment Revenue: ₹2,948.77
  • Net Sales / Income from Operations: ₹2,864.71

Segment Results - Profit/(Loss) before Finance costs, exceptional items and tax (₹ in Lakhs)

  • Iron Ore: ₹932.65
  • Manganese Ore: ₹0.00
  • Sponge Iron: ₹27.37
  • Un-allocated: ₹960.02
  • Total Segment Results: ₹481.17

Segment Assets (₹ in Lakhs)

  • Iron Ore: ₹6,218.67
  • Manganese Ore: ₹257.86
  • Sponge Iron: ₹330.46
  • Un-allocated: ₹51,624.40
  • Total Assets: ₹58,431.39

Segment Liabilities (₹ in Lakhs)

  • Total Liabilities: ₹63,549.86

Auditor’s Report

Auditor Name and Location: SDR & Associates, Chartered Accountants (FRN No.326522E), Bhubaneswar. Represented by CA S.S. Sahoo, Partner (M. No.314508).

Type of Opinion: Unmodified review report.

Review Scope: Conducted in accordance with Standard on Review Engagements (SRE) 2410 issued by ICAI. Provides moderate assurance that the financial results are free from material misstatement.

Conclusion: Based on the review, nothing has come to their attention that causes them to believe that the statement of unaudited financial results has not disclosed the information required by Regulation 33 of SEBI LODR or that it contains any material misstatement.

Emphasis of Matter:

The auditors drew attention to two notes in the financial results:

1. Note 1: The company's mining operations are under suspension for Belkundi and Bhadrasahi Mines due to non-availability of statutory clearances. Mining leases are in the process of renewal. The Bagiaburu Iron Mines started operating from 14.12.2023. Accordingly, the financial results have been prepared on a going concern basis.

2. Note 5: Details of Free Hold land totaling 180.82 Acres, with portions held in the names of OMDC (5.423 Acres), Bird & Co. (3.910 Acres), and BPMEL (168.098 Acres). 3.393 Acres are occupied by Jaraka Bentakar & Suru Bantakar but are in OMDC's possession by virtue of adverse possession.

Other Operational / Strategic Disclosures

Notes to Accounts:

1. The accounts have been prepared on a Going Concern Basis. The company is constantly following up for the renewal of mining leases for the remaining two mines (Belkundi and Bhadrasahi).

2. The Company has identified business segment as the primary segment (Iron Ore, Manganese Ore).

3. The figures for the 3 months ended 31st March, 2026 are balancing figures between the audited full-year figures and year-to-date figures up to the 3rd Quarter ending 31st December 2025.

4. Total depreciation for the quarter ended 30.06.2026 was ₹26.59 Lakhs (₹10.34 Lakh on Tangible Assets and ₹16.25 Lakhs towards Amortization of Mining Rights).

5. Total Free Hold Land is 180.82 Acres.

6. The company conducts Qualitative and Quantitative analysis of Mines Stock annually by an independent stock verifier.

7. The results were approved by the Board in its 93rd meeting on 17th Sept'2026.

8. The Statutory Auditors carried out a Limited Review as required by SEBI LODR Regulation 33.

9. Previous period figures have been re-grouped for comparability.

KMP / Board / Auditor Changes: Not Specified

Dividend Declaration or Non-Declaration: Not Specified

Disinvestment / Strategic Actions: Not Specified

Media Release / Investor Communication: Not Specified