Oil Country Tubular Limited Announces Key Board Outcomes, Management Appointments, and Audited Financial Results
Oil Country Tubular Limited held a Board of Directors meeting on May 21, 2026, where the company transacted several key corporate actions, including the appointment of a new Chief Financial Officer (CFO), a change in a director's designation, and the release of its audited financial results for the quarter and year ended March 31, 2026.Management and Governance Updates
The Board approved the appointment of Mr. Ramamuni Reddy Jampanapalle as the company's Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The appointment is effective from May 21, 2026. Mr. J. Rama Muni Reddy holds a Post Graduate Diploma in Marketing Management and an M.Com degree. He brings over 35 years of extensive experience in accountancy with Oil Country Tubular Limited, possessing significant expertise in finance and accounts management.
Furthermore, the Board of Directors approved the change in designation of Mr. Paruchuri Dheeraj Chowdary. His designation changes from Non-Executive Non Independent Director to Whole Time Director of the Company. This change is set for a period of three years, effective from June 01, 2026, to May 31, 2029, subject to approval by the company's members in the ensuing Annual General Meeting. Mr. Chowdary holds a Bachelor of Engineering in Mechanical Engineering from College Of Engineering, Anna University, and a Master of Science Engineering from Colorado Boulder USA.
In a corporate governance update, the Statutory Auditors of the Company, C K S Associates, Chartered Accountants, informed the company that the firm has converted itself into a Limited Liability Partnership (LLP) under the Limited Liability Partnership Act, 2008. The firm is now known as C K S Associates LLP, Chartered Accountants. The company confirmed that this conversion results in no change to the existing audit engagement, and C K S Associates LLP will continue to serve as Statutory Auditors for the remainder of the tenure.
Audited Financial Results and Audit Opinion
The company released its Audited Standalone Financial Results for the quarter and year ended March 31, 2026, prepared as per Indian Accounting Standards (Ind AS). The Statutory Auditors issued an Audit Report with an 'Unmodified Opinion' on the Standalone Audited Financial Results for the year ended March 31, 2026.
The key financial reporting data for the period is presented below:
Statement of Assets and Liabilities (Rs. in lakhs)
| PARTICULARS | 31.03.2026 Audited | 31.03.2025 Audited |
|---|---|---|
| I. NON CURRENT ASSETS | ||
| Property, Plant and Equipment | 24,202.32 | 30,653.00 |
| Capital Work in Progress | 74.00 | - |
| Intangible Assets | 17.27 | 10.44 |
| Other Non Current Assets | 130.18 | 29.07 |
| Total Non Current Assets | 24,484.73 | 30,875.46 |
| II. CURRENT ASSETS | ||
| Inventories | 3,470.54 | 3,071.38 |
| Trade Receivables | 1,238.82 | 1,923.93 |
| Cash and cash equivalents | 808.95 | 1,346.29 |
| Other Bank Balances | 669.84 | 578.39 |
| Total Current Assets | 6,892.24 | 7,325.49 |
| Total Assets | 31,376.97 | 38,200.95 |
| EQUITY AND LIABILITIES | ||
| Equity Share Capital | 5,198.95 | 4,783.95 |
| Other Equity | 14,543.09 | 18,358.10 |
| Total Equity | 19,742.05 | 23,142.05 |
| Other Non Current Liabilities | 7,856.31 | 7,103.26 |
| Total Non Current Liabilities | 9,758.47 | 11,538.08 |
| Total Equity and Liabilities | 31,376.97 | 38,200.95 |
Segmental Performance Review
The segment reporting details revenue and profitability across major operational areas.
Segment Wise Revenue and Results (Rs. in Lakhs)
| Segment | Quarter Ended 31.03.2026 | Quarter Ended 31.12.2025 | Quarter Ended 31.03.2025 |
|---|---|---|---|
| Total Segment Revenue (Sales and Income from Services) | 2,985.62 | 56210 | 12,290.31 |
| Drill Pipe and Allied Products | 2,951.10 | 488.93 | 6,269.78 |
| OCTG Services | 34.52 | 7317 | 6,020.53 |
| Total Segment Results Profit / (Loss) before Interest and Tax | (1,547.08) | (2,127.73) | (2,645.12) |
The company's total income from operations for the quarter ended March 31, 2026, was 3,041.09 (Rs. in Lakhs), compared to 3,539.16 (Rs. in Lakhs) in the previous year's quarter. The Net Profit / (Loss) for the period after tax was reported as (679.81) (Rs. in Lakhs).
OILCOUNTUB Stock Price Movement
Today, Oil Country Tubular Limited shares edged higher, settling at ₹57.26 after gaining 0.94%. The stock concluded the day's trading session on a volume of 31,526 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.
Last edited by a moderator: