Organic Coatings Ltd (531157)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Organic Coatings' revenue was ₹11.2 Cr (+58.7% year on year, +16.7% on the previous quarter), and net profit ₹-0.4 Cr (a smaller loss than a year earlier); the operating margin was 0.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹11.2 | +58.7% | +16.7% |
| Operating profit | ₹0.0 | from loss | from loss |
| Net profit | ₹-0.4 | loss narrowed | loss narrowed |
| EPS (₹) | -0.36 | loss narrowed | loss narrowed |
| Operating margin | 0.3% | — | — |
📢 Recent Corporate Announcements
Shareholders of Organic Coatings Limited rejected the re-appointment of Mr. Ajay Rajnikant Shah as Director liable to retire by rotation at the 61st AGM held on September 29, 2026. Consequently, Mr. Shah has ceased to hold office as Director and Whole-time Director effective September 29, 2026. This shareholder pushback occurs amid low promoter holding (6.06%) and ongoing operational losses (TTM net profit of Rs -3 Cr on Rs 32 Cr TTM revenue).
- Shareholder resolution for re-appointment of Ajay Rajnikant Shah failed at the 61st AGM held on 29th September, 2026
- Cessation as Director and Whole-time Director effective from conclusion of the AGM on 29th September, 2026
- Company received scrutiniser voting report on October 01, 2026 at 03:46 P.M.
- Promoter holding stands at only 6.06%, exposing board appointments to high non-promoter voting influence
Shareholders of Organic Coatings Limited rejected the re-appointment of Mr. Ajay Rajnikant Shah as Director liable to retire by rotation at the 61st AGM held on September 29, 2026. Consequently, Mr. Shah has ceased to hold office as Director and Whole-time Director effective September 29, 2026. This shareholder pushback occurs amid low promoter holding (6.06%) and ongoing operational losses (TTM net profit of Rs -3 Cr on Rs 32 Cr TTM revenue).
- Shareholder resolution for re-appointment of Ajay Rajnikant Shah failed at the 61st AGM held on 29th September, 2026
- Cessation as Director and Whole-time Director effective from conclusion of the AGM on 29th September, 2026
- Company received scrutiniser voting report on October 01, 2026 at 03:46 P.M.
- Promoter holding stands at only 6.06%, exposing board appointments to high non-promoter voting influence
Organic Coatings Limited announced the outcome of its 61st AGM held on September 29, 2026, where shareholders approved multiple key resolutions. These include the 5-year appointments of two Independent Directors (tenures until July 13, 2031) and two Whole-Time Directors (tenures until October 12, 2030). Shareholders also approved an increase in authorized share capital, enhanced borrowing limits under Section 180, and shifting the registered office from Maharashtra to Gujarat. The micro-cap company (market cap Rs 19 Cr) continues to face weak financials, reporting a net loss of Rs 3.26 Cr on Rs 28.09 Cr revenue in FY26.
- Shareholders approved the 5-year appointment of Independent Directors Ganesh Ramanathan and Subhash Ambubhai Patel from July 14, 2026 to July 13, 2031
- Approved Whole-Time Director appointments for Parth Meenesh Patel and Nikhil Sadarangani for 5 years effective October 13, 2025 to October 12, 2030
- Passed special resolutions for increasing authorized share capital and enhancing overall borrowing limits under Section 180
- Approved shifting of the company's registered office from Maharashtra to Gujarat
Organic Coatings Ltd's board approved an increase in its authorised share capital from ₹10.00 crore to ₹15.00 crore, subject to shareholder approval. The company announced its 61st Annual General Meeting will be held virtually on 29th September, 2026, with 22nd September, 2026 as the cut-off date. Additionally, the board noted the resignation of Mr. Ajay Rajnikant Shah as Chief Financial Officer effective 17th August, 2026, while approving multiple director appointments and remuneration proposals.
- Board approved increasing authorised share capital from ₹10,00,00,000 (1.00 crore shares) to ₹15,00,00,000 (1.50 crore shares of ₹10 each).
- 61st Annual General Meeting scheduled for 29th September, 2026, with e-voting cut-off set for 22nd September, 2026.
- CFO Ajay Rajnikant Shah resigned effective 17th August, 2026 due to personal commitments (continues as Whole-Time Director).
- Recommended appointments of Mr. Subhash Ambubhai Patel and Mr. Ganesh Ramanathan as Independent Directors for 5-year terms from 14th July 2026 to 13th July 2031.
Organic Coatings Ltd has submitted a revised intimation clarifying the resignation of Mr. Ajay Rajnikant Shah from the post of Chief Financial Officer (CFO), effective August 17, 2026, citing personal commitments. While stepping down from the CFO role, Mr. Shah will continue to serve as a Whole-Time Director of the company. The company clarified that the delay in the initial disclosure was unintentional, following an email directive from BSE on August 26, 2026.
- CFO Ajay Rajnikant Shah resigned with effect from 17th August, 2026 citing personal commitments
- Mr. Shah will continue in his role as a Whole-Time Director on the Board
- Company filed a fresh disclosure following BSE directive dated 26th August, 2026 citing inadvertent delay
- The resignation letter was initially tendered on August 14, 2026
Organic Coatings Ltd has informed BSE that its Board of Directors will meet on August 29, 2026. The agenda includes fixing the date, time, and venue for the 61st Annual General Meeting for FY26. The board will also approve the draft Notice of the AGM, Directors' Report, and determine the cut-off/record date for voting and dividend eligibility. This is a standard administrative filing ahead of the company's AGM.
- Board meeting scheduled for Saturday, 29th August, 2026
- Agenda includes fixing date, time, and venue for the 61st AGM for FY26
- Approval of draft Notice of AGM and Directors' Report to be considered
- Board to determine cut-off and record date for voting and dividend eligibility
Organic Coatings Ltd announced the resignation of its Chief Financial Officer (KMP), Mr. Ajay Rajnikant Shah, effective August 17, 2026, citing personal commitments. According to the disclosure and resignation letter, Mr. Shah confirmed no other material reasons and stated he will continue as a Whole-time Director. The microcap company, with TTM revenue of ₹32 Cr and a TTM loss of ₹3 Cr, has not yet announced a successor CFO.
- CFO Mr. Ajay Rajnikant Shah resigned effective August 17, 2026
- Formal intimation filed with BSE on August 25, 2026
- Departure attributed to personal commitments with no other material reasons cited
- Mr. Shah to continue serving as a Whole-time Director
Organic Coatings Limited reported its Q1 FY27 financial results and announced the appointment of Ms. Kaksha Atulkumar Thakkar as Company Secretary and Compliance Officer effective August 14, 2026. Revenue from operations increased 58.7% YoY to Rs 1,122.36 lakhs (Rs 11.22 crore) compared to Rs 707.20 lakhs in Q1 FY26. Net loss for the quarter narrowed to Rs 36.08 lakhs from Rs 85.35 lakhs in the year-ago period. Basic and diluted EPS improved to Rs (0.36) per share compared to Rs (0.86) in Q1 FY26.
- Revenue from operations grew 58.7% YoY to Rs 1,122.36 lakhs from Rs 707.20 lakhs in Q1 FY26
- Net loss narrowed by 57.7% YoY to Rs 36.08 lakhs vs a loss of Rs 85.35 lakhs in Q1 FY26
- Cost of materials consumed stood at Rs 852.09 lakhs compared to Rs 581.32 lakhs in the previous year quarter
- Appointed Ms. Kaksha Atulkumar Thakkar (Membership No. A80074) as CS, Compliance Officer, and KMP effective August 14, 2026
Organic Coatings Ltd reported a 58.7% YoY growth in Q1 revenue from operations to ₹1,122.36 lakhs compared to ₹707.20 lakhs in the corresponding quarter of the previous year. The company's net loss narrowed significantly to ₹36.08 lakhs from ₹85.35 lakhs in Q1 FY26 and ₹84.99 lakhs in Q4 FY26. Total expenses rose to ₹1,159.52 lakhs, driven by higher raw material consumption of ₹852.09 lakhs. Separately, the board approved the appointment of Ms. Kaksha Atulkumar Thakkar as Company Secretary and Compliance Officer.
- Revenue from operations increased 58.7% YoY to ₹1,122.36 lakhs vs ₹707.20 lakhs in Q1 FY26
- Net loss narrowed to ₹36.08 lakhs against a loss of ₹85.35 lakhs in Q1 FY26 and ₹84.99 lakhs in Q4 FY26
- Basic and diluted EPS improved to ₹(0.36) from ₹(0.86) YoY
- Cost of materials consumed rose to ₹852.09 lakhs compared to ₹581.32 lakhs in Q1 FY26
- Anti-dumping duty on import of pigments during the quarter remains subject to adjudication with no provision made
Organic Coatings reported Q1 FY27 revenue from operations of ₹11.22 Cr, marking a 58.7% YoY growth compared to ₹7.07 Cr in Q1 FY26. Net loss narrowed significantly to ₹0.36 Cr from a loss of ₹0.85 Cr in the year-ago period and ₹0.85 Cr in Q4 FY26. Total expenses increased to ₹11.60 Cr led by higher raw material consumption of ₹8.52 Cr. The company also appointed Ms. Kaksha Atulkumar Thakkar as Company Secretary and Compliance Officer effective August 14, 2026.
- Revenue from operations expanded 58.7% YoY to ₹1,122.36 Lakhs compared to ₹707.20 Lakhs in Q1 FY26.
- Net loss narrowed to ₹36.08 Lakhs versus a net loss of ₹85.35 Lakhs in Q1 FY26.
- Cost of materials consumed rose to ₹852.09 Lakhs against ₹581.32 Lakhs in the corresponding prior-year quarter.
- Basic EPS improved to ₹(0.36) per share compared to ₹(0.86) in Q1 FY26.
- Ms. Kaksha Atulkumar Thakkar appointed as Whole-time Company Secretary and Compliance Officer (KMP).
Organic Coatings Ltd has scheduled a board meeting on August 14, 2026, to approve the un-audited financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial position with a TTM loss of ‡3.26 crore and an eroded net worth of ‡0 crore. Promoter holding remains low at 6.06%, following a significant drop from 22.54% in September 2025. Investors will be looking for any signs of operational recovery from the current negative operating margin of -6.2%.
- Board meeting scheduled for August 14, 2026, to review Q1 FY27 results
- Trading window for company securities closed until August 16, 2026
- Company reported a net loss of ‡0.85 crore in the most recent quarter (March 2026)
- TTM revenue stands at ‡28 crore against a debt of ‡10 crore
Organic Coatings Ltd has announced a series of administrative and financial updates following its July 14, 2026, board meeting. The company is proposing to shift its registered office from Maharashtra to Gujarat and has secured a ₹33.60 Lakh working capital term loan from the Bank of Maharashtra. Management changes include the appointment of two new Independent Directors and a new Internal Auditor (ABSM & Associates) for FY 2026-27. Crucially, the board approved a reduction in director remuneration, reflecting the company's stressed financial state, characterized by a ₹0 net worth and a TTM loss of ₹3 Cr.
- Secured a working capital term loan of ₹33.60 Lakhs from Bank of Maharashtra to support operations.
- Proposed shifting the registered office from Maharashtra to Gujarat, subject to shareholder approval.
- Appointed Mr. Ramanathan Ganesh and Mr. Subhash Ambubhai Patel as Additional Independent Directors effective July 14, 2026.
- Replaced internal auditors Dharmesh A Shah and Associates with ABSM & Associates for FY 2026-27.
- Approved a reduction in director remuneration to manage costs amid ongoing losses.
Organic Coatings Ltd announced a major management and administrative overhaul following its board meeting on July 14, 2026. The company appointed two new Independent Directors and a new Internal Auditor (ABSM & Associates) after removing the previous firm. Strategically, the board approved shifting the registered office from Maharashtra to Gujarat and secured a ₹33.60 Lakh working capital loan from Bank of Maharashtra. Additionally, the company is implementing cost-cutting measures by reducing director remuneration, following a period of significant stock price decline (-35.9% over 6 months).
- Appointment of 2 new Independent Directors, Mr. Ramanathan Ganesh and Mr. Subhash Ambubhai Patel, effective July 14, 2026
- Removal of M/s Dharmesh A. Shah and Associates as Internal Auditors for FY 2026-27 and 2027-28
- Sanction of a ₹33.60 Lakh working capital term loan from Bank of Maharashtra to support operations
- Proposal to shift the Registered Office from Maharashtra to Gujarat, subject to shareholder approval
- Reduction in the remuneration of Directors as part of cost-management efforts
Organic Coatings Ltd has announced a series of administrative and financial decisions following its board meeting on July 14, 2026. The company is seeking shareholder approval to shift its registered office from Maharashtra to Gujarat, likely to align with its existing Baroda operations. Financially, the board approved a small working capital facility of ₹33.60 Lakhs from the Bank of Maharashtra and notably decided to reduce director remuneration. Governance changes include the appointment of two new Independent Directors and a change in internal auditors for FY 2026-27.
- Approved availing a working capital term loan/credit facility of ₹33.60 Lakhs from Bank of Maharashtra.
- Proposed shifting the Registered Office from Maharashtra to Gujarat, subject to shareholder approval.
- Appointed Mr. Ramanathan Ganesh and Mr. Subhash Ambubhai Patel as Additional Independent Directors effective July 14, 2026.
- Approved a reduction in the remuneration of Directors to manage costs.
- Replaced internal auditors M/s Dharmesh A. Shah and Associates with M/s ABSM & Associates for FY 2026-27.
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