Omkar Speciality Chemicals Limited Releases FY2026 Results Amid Resolution Plan Implementation

Omkar Speciality Chemicals Limited Releases FY2026 Results Amid Resolution Plan Implementation​

Omkar Speciality Chemicals Limited has released its standalone audited financial statements for the quarter and full financial year ended March 31, 2026. The results reflect the implementation of the Resolution Plan approved by the National Company Law Tribunal (NCLT) on July 31, 2025, following the company's admission into Corporate Insolvency Resolution Process (CIRP).

The financial reports and related documents were approved by the Board of Directors on June 12, 2026. The company’s management stated that, despite reporting a net loss during the year, the ongoing infusion of funds by the Resolution Applicant and the expected revival of operations make the going concern assumption appropriate.

Governance Updates and Board Decisions​

The Board meeting held on June 12, 2026, considered and approved several corporate changes. Key governance appointments included three Independent Directors: Mr. Bhupeshkumar Jain (Independent Director - Chairperson), Mr. Ruhini Kumar Chakraborty (Independent Director -Member), and Ms. Muskaan Pherwani (Independent Director -Member). Furthermore, the Board approved a change to the registered office address within the local limits of the city.

Financial Performance Overview​

The financial statements for the year ended March 31, 2026, provide details on operations, assets, and liabilities following the restructuring initiated by the Resolution Plan.

Key figures from the Consolidated Statement of Profit and Loss (Amounts in Lakhs) are summarized below:


The company’s paid-up Equity Share Capital stood at 2,057.80 Lakhs as of March 31, 2026. The Basic and Diluted Earnings Per Share (EPS) for the year ended March 31, 2026, were reported at -0.77.

Balance Sheet and Resolution Plan Status​

The financial statements reflect significant restatements of assets and liabilities due to the implementation of the approved Resolution Plan. The plan entailed a total resolution amount of 22,665 Lakhs, with payments made toward creditors totaling 22,314 Lakhs, and 351 Lakhs allocated for Capex and working capital.

As of March 31, 2026, the company’s assets and liabilities stood as follows:


The company reported that the Resolution Applicant infused funds amounting to 2,342.13 Lakhs up to March 31, 2026.

Cash Flow and Audit Findings​

For the year ended March 31, 2026, the Net Cash flow from operating activities was -160.40 Lakhs. Conversely, the net cash generated from financing activities was -4.87 Lakhs, leading to a net increase in cash and cash equivalents of 17,834 Lakhs.

The company has received an unmodified opinion on its financial statements from R.R. Tibrewala & Co., Chartered Accountants. The auditors’ report also confirmed that the company maintained adequate internal financial controls with respect to its financial statements as at March 31, 2026, and that no material fraud was detected during the period.

The Audit Report noted that the implementation of the Resolution Plan, involving the significant restatement of borrowings, trade payables, provisions, and other liabilities, constituted a key audit matter due to the magnitude and management judgment involved in determining the accounting treatment.