OCCLLTD - OCCL
📢 Recent Corporate Announcements
OCCL Limited has officially released the written transcript of its Earnings Conference Call for the third quarter and nine months ended December 31, 2025 (Q3 & 9M FY26). The call was originally conducted on February 05, 2026, and the transcript provides a detailed record of management's discussion on financial performance and future strategy. This disclosure follows the earlier submission of the audio recording to the exchanges. Investors can now access the full dialogue to understand specific operational challenges and growth outlook provided by the leadership.
- Transcript released for the Q3 & 9M FY26 Earnings Call held on February 05, 2026
- Follows the regulatory requirement of filing transcripts after audio recordings
- Provides detailed management commentary on the company's performance for the nine-month period of FY26
- Document is accessible via the BSE (544278) and NSE (OCCLLTD) portals
OCCL Limited has officially released the audio recording of its earnings conference call held on February 05, 2026. This disclosure is a routine regulatory requirement under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The recording provides investors with direct access to management's commentary on the company's recent financial performance and strategic direction. A written transcript of the session is expected to be filed with the stock exchanges and uploaded to the company's website shortly.
- Earnings call conducted on February 05, 2026, following the latest financial results.
- Audio recording link made available on the company's official website for public access.
- Compliance maintained under Regulation 30 of SEBI (LODR) Regulations, 2015.
- Written transcript of the call to be released in due course for detailed analysis.
OCCL Limited reported a robust performance for Q3 FY26, with revenue increasing 19% YoY to ₹114.6 crores and PAT growing 24% to ₹6.5 crores. EBITDA margins saw an expansion to 17.6%, supported by improved domestic realisations following anti-dumping duties on imports from Japan and China. The company, holding a 60% domestic market share in insoluble sulphur, expects further tailwinds from GST reductions in the auto sector and favorable trade deals with the US and EU. However, high sulphur prices remain a key challenge for margin sustainability.
- Revenue from operations grew 19% YoY to ₹114.6 crores in Q3 FY26.
- EBITDA increased by 26% YoY to ₹20.2 crores with margins improving by 100 bps to 17.6%.
- PAT for the quarter stood at ₹6.5 crores, representing a 24% growth compared to the previous year.
- Maintains a dominant 55-60% domestic and ~10% global market share in Insoluble Sulphur.
- Management highlighted positive outlooks from US trade deals and domestic automobile demand recovery.
OCCL Limited has appointed Mr. Rajneesh Dhiman as Head – Sales and Marketing, effective February 4, 2026. Mr. Dhiman is a returning veteran to the company, having previously served from 2017 to 2025 and managed a business portfolio exceeding ₹150 crore. With over 23 years of experience in specialty and rubber chemicals, his expertise in Insoluble Sulphur and Carbon Black aligns closely with OCCL's core business. This appointment is expected to strengthen the company's strategic market development and customer engagement efforts.
- Appointment of Mr. Rajneesh Dhiman as Head – Sales and Marketing effective February 4, 2026
- Mr. Dhiman brings over 23 years of extensive experience in the chemicals and materials industry
- Previously managed a business portfolio exceeding ₹150 crore during his prior tenure at OCCL
- Expertise spans Insoluble Sulphur and Carbon Black, including leadership roles at Balkrishna Industries and Continental Carbon India
OCCL Limited has amended its 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' (UPSI) effective February 4, 2026. The update aligns with SEBI (Prohibition of Insider Trading) Regulations, 2015, to ensure universal and non-selective dissemination of information. The policy defines legitimate purposes for sharing data and establishes the role of a Chief Investor Relations Officer to manage market rumors and disclosures. This is a routine governance update aimed at maintaining market integrity and transparency.
- Board of Directors approved the amended UPSI disclosure code in a meeting held on February 4, 2026
- The policy defines 'legitimate purpose' for sharing sensitive data with auditors, lenders, and advisors in the ordinary course of business
- Mandates prompt public disclosure of UPSI to ensure uniform dissemination and avoid selective disclosure
- Establishes a 'No Comment' policy regarding market rumors unless specifically requested by regulatory authorities
- The code was originally effective from July 1, 2024, and has now been revised to reflect current SEBI standards
OCCL Limited reported a strong Q3 FY26 performance with total income growing 19% YoY to ₹114.6 crores. EBITDA increased by 26% YoY to ₹20.2 crores, with margins expanding to 17.6% despite challenges from high sulphur prices. Net profit (PAT) grew 24% YoY to ₹6.5 crores, even after absorbing a one-time exceptional charge of ₹3.1 crores related to new Labour Code obligations. The company is benefiting from anti-dumping duties on imports and a boost in domestic tyre demand following GST reductions in the automobile sector.
- Total Income for Q3 FY26 grew 19% YoY to ₹114.6 crores from ₹96.5 crores in the previous year.
- EBITDA rose 26% YoY to ₹20.2 crores, maintaining a healthy margin of 17.6%.
- Profit After Tax (PAT) increased 24% YoY to ₹6.5 crores, inclusive of a ₹3.1 crore exceptional item for Labour Code impacts.
- 9M FY26 Total Income reached ₹358.7 crores with a PAT of ₹28.4 crores.
- Management reported improved domestic realisations following anti-dumping duties on imports from Japan and China.
OCCL Limited reported a strong performance for Q3 FY26, with total income rising 19% YoY to ₹114.6 crore. EBITDA grew by 26% YoY to ₹20.2 crore, while EBITDA margins improved to 17.6% from 16.6% in the same quarter last year. Net profit (PAT) increased by 24% YoY to ₹6.5 crore, despite an exceptional charge of ₹3.1 crore related to the impact of new labour codes. The company is benefiting from improved domestic realizations following anti-dumping duties on imports from Japan and China.
- Total Income for Q3 FY26 stood at ₹114.6 crore, a 19% increase compared to ₹96.5 crore in Q3 FY25.
- EBITDA grew 26% YoY to ₹20.2 crore with margins expanding by 100 bps to 17.6%.
- Net Profit (PAT) for the quarter rose 24% YoY to ₹6.5 crore, including a ₹3.1 crore exceptional item for labour code compliance.
- 9M FY26 performance shows a Total Income of ₹358.7 crore and a PAT of ₹28.4 crore.
- Management noted improved domestic realizations due to anti-dumping duties and a positive export outlook for Europe and the USA.
OCCL Limited reported a robust performance for Q3 FY26, with revenue from operations rising 19% YoY to ₹114.6 crores. EBITDA for the quarter grew by 26% to ₹20.2 crores, with margins expanding to 17.6% from 16.6% in the previous year. Net profit (PAT) increased 24% YoY to ₹6.5 crores, even after accounting for a one-time exceptional impact of ₹3.1 crores related to new Labour Codes. The company is benefiting from improved domestic realisations following anti-dumping duties on imports and a boost in automotive demand due to GST reductions.
- Revenue from operations grew 19% YoY to ₹114.6 crores in Q3 FY26 compared to ₹96.5 crores in Q3 FY25.
- EBITDA increased 26% YoY to ₹20.2 crores with margins improving by 100 bps to 17.6%.
- Net Profit (PAT) rose 24% YoY to ₹6.5 crores despite a ₹3.1 crore exceptional charge for Labour Code compliance.
- 9M FY26 Total Income stood at ₹358.7 crores with an EBITDA of ₹67.1 crores (18.7% margin).
- The company appointed Mr. Rajneesh Dhiman as Senior Management Personnel effective February 4, 2026.
OCCL Limited has scheduled its earnings conference call for Thursday, February 5, 2026, at 2:30 PM IST. The call will focus on the company's financial and operational performance for the third quarter and nine-month period of FY26. Key management personnel, including the Joint Managing Director and CFO, will be present to address analyst queries. This routine disclosure allows investors to gain direct insights into the company's recent business trajectory.
- Earnings conference call scheduled for February 5, 2026, at 14:30 IST.
- Discussion to cover financial results for Q3 and 9M FY26.
- Management participants include Jt. Managing Director Akshat Goenka and CFO Anurag Jain.
- Universal dial-in numbers provided are +91 22 6280 1309 and +91 22 7115 8210.
- International access available via toll-free numbers for USA, UK, Singapore, and Hong Kong.
OCCL Limited has announced the resignation of Mr. Muneesh Batta, who served as the Vice President of Sales & Marketing. He was officially relieved of his duties effective from the close of business hours on January 27, 2026. Consequently, he has ceased to be a member of the Senior Management Personnel of the company. This transition is a routine management update in compliance with SEBI's Regulation 30. Investors should watch for the appointment of a successor to lead the sales and marketing division.
- Resignation of Mr. Muneesh Batta from the post of Vice President, Sales & Marketing.
- Effective date of cessation from the Senior Management role is January 27, 2026.
- The disclosure was made pursuant to Regulation 30 of SEBI LODR Regulations.
- The company has not yet named a replacement for the outgoing Senior Management Personnel.
OCCL Limited has received a warning letter from BSE and NSE for failing to conduct a Nomination and Remuneration Committee (NRC) meeting during the financial year ended March 31, 2025. The company clarified that it was listed on October 29, 2024, and its paid-up capital and net worth were below the mandatory compliance thresholds of Rs 10 crore and Rs 25 crore, respectively. OCCL maintains that corporate governance provisions under Regulations 17 to 27 were not applicable during the period in question. The company has reiterated its commitment to compliance and has strengthened internal monitoring to prevent future lapses.
- BSE and NSE issued warning letters on January 6, 2026, regarding missing NRC meetings for FY 2024-25.
- Company claims exemption as paid-up equity is under Rs 10 crore and net worth is under Rs 25 crore.
- OCCL was recently listed on the stock exchanges on October 29, 2024.
- The exchange has advised the company to place the warning letter before its Board of Directors.
- Management has implemented strengthened internal compliance monitoring mechanisms to ensure future adherence.
OCCL Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar MUFG Intime India Private Limited, confirms that dematerialization requests for the quarter ended December 31, 2025, were processed timely. It ensures that physical share certificates were properly cancelled and the company's register of members was updated. This is a standard administrative procedure to maintain the accuracy of electronic share records.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- Registrar MUFG Intime India confirmed processing of dematerialization requests within timelines.
- Physical certificates were mutilated and cancelled after due verification by the depository participant.
OCCL Limited has provided a clarification to the stock exchange regarding the non-submission of consolidated financial results for the quarter ended September 30, 2025. The company holds a 49% stake in Clean Max Infinia Private Limited, a special purpose vehicle (SPV) for a 2.2 MWac captive solar plant, involving an investment of ₹1.25 crore. OCCL argues that despite the 49% holding, it lacks 'significant influence' as defined by Ind AS 28 because it has no board representation or operational control. Consequently, the company is not required to prepare consolidated financial statements and will treat the investment as a financial asset.
- Invested ₹1,24,80,000 for a 49% equity stake in Clean Max Infinia Private Limited.
- The SPV is setting up a 2.2 MWac / 3.20 MWp captive solar power plant in Haryana for OCCL's use.
- Company confirmed it has zero representation on the Board of Directors of the SPV.
- Argued that consolidated financial results are not applicable under Ind AS 28 and SEBI Regulation 33.
- The investment will be measured as a financial asset at fair value through profit and loss or OCI.
OCCL Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the financial results are officially declared to the stock exchanges. This is a standard regulatory procedure to prevent insider trading during the period when sensitive financial data is being finalized.
- Trading window closure begins on January 1, 2026.
- Closure pertains to the financial results for the quarter and nine months ending December 31, 2025.
- The window will reopen 48 hours after the public announcement of the financial results.
- All designated persons and their immediate relatives are restricted from trading in company securities during this period.
Financial Performance
Revenue Growth by Segment
Total income for Q2 FY26 grew 16% YoY to INR 120.6 Cr compared to INR 103.9 Cr in Q2 FY25, primarily driven by the chemicals business following the demerger.
Geographic Revenue Split
Not disclosed in available documents, though the company notes significant competition from Chinese and Japanese imports, suggesting a domestic focus with exposure to global pricing.
Profitability Margins
Gross margins were impacted by raw material costs of INR 54.5 Cr (45% of revenue). PAT margin remained stable at 7.2% for Q2 FY26, while H1 FY26 PAT margin stood higher at 8.9%.
EBITDA Margin
EBITDA margin for Q2 FY26 was 16.8%, a contraction from 18.6% in Q2 FY25, despite a 5% YoY growth in absolute EBITDA to INR 20.2 Cr.
Capital Expenditure
Property, Plant and Equipment stood at INR 360.8 Cr as of September 2025, with Capital Work-in-Progress of INR 3.3 Cr, indicating ongoing minor maintenance or debottlenecking.
Credit Rating & Borrowing
The company maintains a strong liquidity profile; it prepaid a sizeable portion of long-term debt in Q1. Total borrowings as of Sep-25 were INR 81.5 Cr (INR 70.0 Cr current and INR 11.5 Cr non-current).
Operational Drivers
Raw Materials
Sulphur is the primary raw material, with total raw material costs accounting for INR 54.5 Cr or 45.2% of total revenue in Q2 FY26.
Import Sources
Not specifically disclosed, but the company monitors global sulphur price moderation to improve profitability.
Capacity Expansion
Current Property, Plant and Equipment is valued at INR 360.8 Cr. Specific MTPA capacity is not disclosed, but the company emphasizes a highly cost-competitive manufacturing base.
Raw Material Costs
Raw material costs increased significantly to INR 54.5 Cr in Q2 FY26 from INR 36.4 Cr in Q2 FY25, a 49.7% increase, which pressured EBITDA margins.
Manufacturing Efficiency
Focus on operational efficiency and R&D foundation to maintain a cost-competitive base against imports.
Logistics & Distribution
Freight and forwarding expenses accounted for INR 8.3 Cr in Q2 FY26, representing 6.9% of total revenue.
Strategic Growth
Expected Growth Rate
16%
Growth Strategy
Growth is targeted through the imposition of anti-dumping duties (ADD) on Chinese and Japanese imports, which restores pricing power. The company is leveraging its R&D foundation and cost-competitive manufacturing to strengthen market position and deliver consistent value.
Products & Services
Insoluble Sulphur and related chemical products for the rubber and tyre industry.
Brand Portfolio
OCCL Limited (following the demerger of the chemicals business from the former Oriental Carbon & Chemicals Limited).
New Products/Services
Not specifically disclosed, but R&D focus suggests ongoing product quality improvements.
Market Expansion
The company aims to strengthen its market position following the recent business restructuring and demerger.
Market Share & Ranking
Not disclosed, but the company is a significant player benefiting from protective anti-dumping duties.
Strategic Alliances
The company was formed via a demerger where the chemical business was moved into OCCL Ltd, while investments remained with AG Ventures Limited.
External Factors
Industry Trends
The industry is seeing a shift toward domestic sourcing in India due to regulatory protections (ADD). Profitability is expected to improve due to moderation in sulphur prices and price hikes taken by the company.
Competitive Landscape
Key competition arises from Chinese and Japanese chemical exporters; the company competes on cost and quality.
Competitive Moat
The moat is built on cost-competitive manufacturing and R&D, further protected by the 5-year anti-dumping duty on imports from China and Japan, which limits low-cost competition.
Macro Economic Sensitivity
Sensitive to global chemical industry cycles and tyre demand, as well as international sulphur commodity pricing.
Consumer Behavior
Demand is driven by the global tyre industry's requirement for high-quality vulcanizing agents.
Geopolitical Risks
Trade barriers such as anti-dumping duties are currently a tailwind, but changes in trade relations with China or Japan could shift the competitive landscape.
Regulatory & Governance
Industry Regulations
The company is subject to the Companies Act 2013 and Ind AS. The recent imposition of anti-dumping duty by regulatory authorities is a critical favorable factor.
Taxation Policy Impact
Effective tax rate for Q2 FY26 was approximately 25% (INR 2.9 Cr tax on INR 11.6 Cr PBT).
Legal Contingencies
Auditors reported that the company did not have pending litigations having a material impact on its financial position as of March 31, 2025.
Risk Analysis
Key Uncertainties
The primary uncertainty is the sustainability of margins if sulphur prices rise sharply or if the anti-dumping duty is challenged or revoked, potentially impacting margins by 2-5%.
Geographic Concentration Risk
Not disclosed, but the business is sensitive to the domestic Indian market's regulatory environment.
Third Party Dependencies
Dependency on banks for working capital limits (sanctioned over INR 5 Cr) and sulphur suppliers.
Technology Obsolescence Risk
The company mitigates this through a 'strong R&D foundation' and focus on product quality.
Credit & Counterparty Risk
Auditors found no material differences in quarterly returns filed with banks; the company has not provided loans or guarantees to third parties during the year.