Financial Analyst Summary: Oil Country Tubular Limited Regulatory Response

Date and Nature of Exchange Communication

  • The company received a deficiency notice from the National Stock Exchange of India Ltd via email dated June 17, 2026
  • The notice concerned financial results submitted to the Exchange on May 21, 2026
  • The company responded with this clarification letter on June 22, 2026

Company's Clarification on Filing Issues

  • The balancing figure note prescribed under SEBI format was inadvertently missed in the original submission
  • The missing note was Note No. 9, which states: "The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the unaudited year-to-date figures up to the third quarter of the financial year"
  • The company submitted Revised Financial Results on the Exchange portal incorporating this missing note
  • The company acknowledged the oversight and committed to ensuring compliance with all applicable regulatory requirements in future filings

Regulatory Compliance Reference

  • The financial results were prepared pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • The audit was conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013
  • The company maintains its commitment to regulatory compliance and exercised due care in rectifying the filing

Financial Results Details

Quarter Ended March 31, 2026:

  • Total Income from Operations: Rs 3,041.09 lakhs
  • Net Loss from ordinary activities after Tax: Rs 1,363.64 lakhs
  • Net Loss after Other Comprehensive Income: Rs 679.81 lakhs
  • Basic EPS: (Rs 2.62)
  • Diluted EPS: (Rs 2.35)

Year Ended March 31, 2026:

  • Total Income from Operations: Rs 7,181.12 lakhs (includes operational income of Rs 7,009.41 lakhs and other income of Rs 171.71 lakhs)
  • Net Loss from ordinary activities after Tax: Rs 6,148.24 lakhs
  • Net Loss after Other Comprehensive Income: Rs 4,640.85 lakhs
  • Basic EPS: (Rs 12.01)
  • Diluted EPS: (Rs 10.58)
  • EBITDA: Rs 630.32 lakhs

Capital Structure:

  • Equity Share Capital: Rs 5,198.95 lakhs (increased from Rs 4,783.95 lakhs due to conversion of 41,50,000 OCPS to equity shares)
  • Reserves (excluding Revaluation Reserve): Rs (2,052.49) lakhs

Segment Performance (FY2026):

  • Drill Pipe and Allied Products: Revenue Rs 5,070.57 lakhs, Segment Loss Rs (4,701.86) lakhs
  • OCTG Services: Revenue Rs 1,938.84 lakhs, Segment Loss Rs (1,797.86) lakhs
  • Total Segment Loss: Rs (6,499.73) lakhs

Balance Sheet Position (as at March 31, 2026):

  • Total Assets: Rs 31,376.97 lakhs
  • Property, Plant and Equipment: Rs 24,202.32 lakhs
  • Inventories: Rs 3,470.54 lakhs
  • Cash and cash equivalents: Rs 808.95 lakhs
  • Total Equity: Rs 19,742.05 lakhs
  • Total Liabilities: Rs 11,634.92 lakhs

Auditor's Opinion:

  • C K S Associates LLP issued an unqualified opinion stating the financial results:
  • Are presented in accordance with Regulation 33 requirements
  • Give a true and fair view in conformity with applicable accounting standards
  • The audit was conducted in accordance with Standards on Auditing

Topic Tags: Regulatory Response, Financial Results Clarification, Compliance, SEBI Regulation 33, Financial Restatement