🔍

Oswal Agro Mills Limited (OSWALAGRO)

₹36.66 +13.43% last close, 16 Oct

📊 NSE: OSWALAGRO 🏢 Trading & Distributors 📢 Latest filing: 29 Sep 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, Oswal Agro's revenue was ₹0.0 Cr (-100.0% year on year), and net profit ₹-46.0 Cr (against a profit a year earlier).

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Revenue	₹0.0	-100.0%	—
Operating profit	₹-4.0	to loss	—
Net profit	₹-46.0	to loss	to loss
EPS (₹)	-3.40	to loss	to loss

Full quarterly financials → Results calendar →

OSWALAGRO delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 52.25% of the OSWALAGRO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 74.07%. That is lower than usual for this stock. Turnover was only ₹97 lakh, so a handful of trades can move this figure. It traded 7.5 times its average daily volume.

52.25%Delivery, 16 Oct

74.07%Own 20-session average

7.5×Volume vs its average

₹36.66NSE close · +13.43%

Delivery in the last 5 sessions: 63.7% · 58.8% · 65.2% · 65.0% · 52.2%

Delivery across the market →Unusual volume today →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Oswal Agro Mills Concludes 46th AGM; Approves Reappointments and MD Remuneration

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Sep 2026, 04:11 PM

Oswal Agro Mills Limited conducted its 46th Annual General Meeting (AGM) on September 29, 2026, through video conferencing. Shareholders transacted both ordinary and special business, including the adoption of FY26 financial statements and reappointment of Mrs. Aruna Oswal as Director. Additionally, resolutions were passed for appointing M/s. BGMG & Associates as Statutory Auditors for five years and appointing Mr. Shael Oswal as Managing Director & Vice Chairperson along with his remuneration.

46th Annual General Meeting held on September 29, 2026, via Video Conferencing
Adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026
Approved appointment of M/s. BGMG & Associates as Statutory Auditors for a 5-year term
Approved appointment and remuneration of Mr. Shael Oswal as Managing Director & Vice Chairperson

💡 Track the upcoming disclosure of final voting results (scrutinizer's report) and quarterly financial results to evaluate business performance turnaround.

Oswal Agro Mills Appoints Shael Oswal as MD for 3 Years; Approves 5-Year Auditor Terms

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 29 Sep 2026, 04:01 PM

Shareholders of Oswal Agro Mills approved the appointment of promoter family member Mr. Shael Oswal as Managing Director and Vice Chairperson for a 3-year term starting October 1, 2026. Additionally, M/s. BGMG & Associates was appointed as Statutory Auditors for a 5-year tenure spanning FY 2026-27 to FY 2030-31 following a prior casual vacancy. M/s. Anuj Gupta & Associates was also confirmed as Secretarial Auditor for a concurrent 5-year period. The leadership update comes as the company navigates volatile revenues, which stood at Rs 19.23 Cr with a net loss of Rs 22.78 Cr in FY26.

Appointment of Mr. Shael Oswal as Managing Director & Vice Chairperson for a term of 3 years effective October 1, 2026
M/s. BGMG & Associates approved as Statutory Auditors for a 5-year tenure until the 51st AGM in 2031
M/s. Anuj Gupta & Associates appointed as Secretarial Auditor for 5 financial years from FY 2026-27 to FY 2030-31
Statutory auditor casual vacancy occurred following the resignation of M/s. Mehta Chokshi & Shah LLP
Decisions passed at the 46th Annual General Meeting held on September 29, 2026

💡 Track subsequent quarterly operational filings to observe if the leadership appointment catalyzes execution in planned real estate or commodity trading ventures.

Oswal Agro Mills Shareholders Approve Appointment of 4 Independent Directors via Postal Ballot

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Sep 2026, 01:49 PM

Oswal Agro Mills Limited has announced the passing of four special resolutions through postal ballot with over 99.98% shareholder approval. The resolutions confirm the appointment of four Independent Non-Executive Directors: Mr. Vimal Bhatnagar, Ms. Prerna Singh, Mr. Babu Ram Somani, and Mr. Rahul Khadriya. Total votes polled stood at 74,848,295, representing 55.76% of outstanding shares. The voting concluded on September 06, 2026, and the scrutinizer's report confirmed the passing of all resolutions.

Four special resolutions for Independent Director appointments approved with over 99.98% votes in favour
Total votes polled amounted to 74,848,295 out of 134,234,776 outstanding shares (55.76% turnout)
Promoter group polled 13,382,109 votes (98.52% of promoter holding) entirely in favour
Remote e-voting was held from August 07, 2026 to September 06, 2026 across 185,780 shareholders on the record date (July 31, 2026)

💡 Monitor upcoming quarterly earnings and board-level strategic updates, particularly any capital deployment in real estate or trading following the induction of new board members.

Oswal Agro Mills Convenes 46th AGM on Sep 29, 2026; Proposes Auditor Appointments

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 03:23 PM

Oswal Agro Mills Limited has scheduled its 46th Annual General Meeting (AGM) for September 29, 2026, via Video Conferencing. Key agenda items include adopting the audited standalone and consolidated financial statements for FY26 and the re-appointment of promoter-director Mrs. Aruna Oswal (holding 5,60,26,460 shares), who retires by rotation. Shareholders will also vote on regularizing and appointing M/s BGMG & Associates as Statutory Auditors for a five-year term ending in 2031 to fill a casual vacancy created by the resignation of M/s Mehta Chokshi & Shah LLP.

46th Annual General Meeting scheduled for September 29, 2026, at 03:00 PM IST via VC/OAVM
Proposal to appoint M/s BGMG & Associates as Statutory Auditors for 5 consecutive years until the 51st AGM in 2031
Re-appointment of Mrs. Aruna Oswal (holding 5,60,26,460 equity shares) who retires by rotation
Appointment of M/s Anuj Gupta & Associates as Secretarial Auditor following casual vacancy

💡 Shareholders can review the detailed AGM resolutions and participate in remote e-voting ahead of the September 29, 2026 meeting.

Oswal Agro Mills Receives ISO 9001:2015 Certification Valid Until August 2029

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 11:36 PM

Oswal Agro Mills Limited has been awarded the ISO 9001:2015 (Quality Management Systems) certification by Audittech Certification Pvt. Ltd. The certification covers real estate development, property management, and leasing of residential and commercial properties. Issued on August 26, 2026, the certificate is valid for three years through August 25, 2029. This is a routine operational quality compliance step with no direct immediate impact on financials.

Awarded ISO 9001:2015 Quality Management Systems certification
Scope covers real estate development, property management, and residential/commercial leasing
Certificate (No. E20260851859) issued on August 26, 2026, valid until August 25, 2029
Surveillance audits scheduled for August 25, 2027, and August 25, 2028

💡 Track the company's real estate project launches and revenue generation, given zero revenue reported across recent quarters and TTM revenue of ₹19 Cr.

Oswal Agro Mills Appoints BGMG & Associates as Statutory Auditor Following Resignation

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Aug 2026, 08:18 PM

Oswal Agro Mills announced the appointment of M/s BGMG & Associates as Statutory Auditors to fill a casual vacancy resulting from the resignation of M/s Mehta Chokshi & Shah LLP. The appointment is effective August 24, 2026 until the conclusion of the upcoming 46th AGM, with a recommendation to shareholders for a 5-year tenure up to the 51st AGM in 2031. The company's 46th AGM is scheduled for September 29, 2026.

Appointment of M/s BGMG & Associates (FRN: 025265N) as Statutory Auditor effective August 24, 2026
Casual vacancy created due to resignation of previous auditor M/s Mehta Chokshi & Shah LLP
Proposed 5-year auditor term from the 46th AGM until the 51st AGM in 2031
46th Annual General Meeting scheduled for September 29, 2026
Register of Members and Share Transfer Books closed from September 22 to September 29, 2026

💡 Track shareholder approval for the 5-year auditor appointment at the upcoming AGM on September 29, 2026, and check the annual report for any reasons or qualifications related to the previous auditor's resignation.

Oswal Agro Mills Appoints BGMG & Associates as Statutory Auditor; Sets 46th AGM for Sept 29, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Aug 2026, 08:09 PM

Oswal Agro Mills announced that its Board of Directors approved the appointment of M/s BGMG & Associates as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s Mehta Chokshi & Shah LLP. The appointment is effective August 24, 2026, subject to shareholder approval at the upcoming 46th AGM for a 5-year term through 2031. Additionally, the company scheduled its 46th Annual General Meeting for September 29, 2026, with the register of members closed from September 22 to September 29, 2026.

Appointed M/s BGMG & Associates as Statutory Auditors to fill casual vacancy from August 24, 2026.
Proposed a 5-year tenure for BGMG & Associates from the 46th AGM until the 51st AGM in 2031.
Convening 46th Annual General Meeting on September 29, 2026 at 03:00 PM via Video Conferencing.
Book closure period fixed from September 22, 2026 to September 29, 2026 for AGM purposes.

💡 Track shareholder voting outcomes on the auditor appointment at the 46th AGM on September 29, 2026.

Oswal Agro Mills Appoints BGMG & Associates as Statutory Auditor; 46th AGM on Sep 29, 2026

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 24 Aug 2026, 08:01 PM

Oswal Agro Mills has announced outcomes from its Board meeting held on August 24, 2026. The Board approved the appointment of M/s BGMG & Associates as Statutory Auditors to fill the casual vacancy caused by the resignation of Mehta Chokshi & Shah LLP, subject to member approval at the upcoming AGM for a 5-year term. The 46th Annual General Meeting is scheduled for September 29, 2026, via video conferencing, with share transfer books closed from September 22 to September 29, 2026.

Appointed M/s BGMG & Associates as Statutory Auditors to fill casual vacancy, proposed for a 5-year tenure until the 51st AGM in 2031
Casual vacancy arose from the resignation of erstwhile auditors M/s Mehta Chokshi & Shah LLP
46th Annual General Meeting scheduled for September 29, 2026, at 3:00 PM via Video Conferencing
Register of Members and Share Transfer Books closed from September 22, 2026 to September 29, 2026

💡 Track the full Annual Report and AGM resolutions for detailed disclosures regarding the reason for the previous auditor's resignation and upcoming strategic plans.

Oswal Agro Appoints BGMG & Associates as Statutory Auditor; 46th AGM on Sep 29, 2026

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 24 Aug 2026, 07:49 PM

Oswal Agro Mills Limited has approved the appointment of M/s BGMG & Associates as Statutory Auditors to fill the casual vacancy created by the resignation of M/s Mehta Chokshi & Shah LLP. The board has also recommended BGMG & Associates' appointment for a 5-year term from the 46th AGM until the 51st AGM in 2031. The 46th Annual General Meeting has been scheduled for September 29, 2026, via Video Conferencing. Share transfer books and the register of members will remain closed from September 22, 2026, to September 29, 2026.

Appointed M/s BGMG & Associates as Statutory Auditor to fill casual vacancy from August 24, 2026
Recommended 5-year tenure for BGMG & Associates to hold office until the 51st AGM in 2031
46th Annual General Meeting convened for September 29, 2026 at 03:00 PM
Book closure period scheduled from September 22, 2026 to September 29, 2026

💡 Shareholders can review the forthcoming Annual Report and AGM Notice for full disclosures on the auditor transition ahead of voting at the September 29, 2026 AGM.

Oswal Agro Mills Statutory Auditor Resigns Over FY27 Audit Fee Dispute

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 12 Aug 2026, 04:10 PM

Oswal Agro Mills Limited announced the resignation of its Statutory Auditor, M/s. Mehta Chokshi & Shah LLP, effective from the closing working hours of August 11, 2026. The auditor cited a lack of agreement on the proposed audit fees and scope of work for FY 2026-27 as the sole reason for resignation. The firm had been appointed by shareholders at the AGM on September 25, 2025. The company will now need to fill the casual vacancy under Section 139(8) of the Companies Act, 2013.

M/s. Mehta Chokshi & Shah LLP resigned as Statutory Auditor effective August 11, 2026
Resignation caused by non-approval of the fee proposal submitted for FY 2026-27
Auditor confirmed no other material facts or circumstances connect to their departure
Auditor was appointed at the Annual General Meeting held on September 25, 2025

💡 Track the appointment of a replacement statutory auditor by the Board/shareholders to ensure timely completion and review of quarterly financial results.

Oswal Agro Mills Statutory Auditor Resigns Effective August 11, 2026, Over Fee Disagreement

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 12 Aug 2026, 03:58 PM

M/s. Mehta Chokshi & Shah LLP has resigned as the Statutory Auditor of Oswal Agro Mills Limited, effective August 11, 2026. The resignation is attributed to a lack of agreement on audit fees for FY 2026-27, which the auditor stated were not commensurate with the required scope and effort. This comes at a time when the company is loss-making, reporting a TTM PAT of Rs -23 Cr on a TTM revenue of Rs 19 Cr. The auditor has explicitly stated there are no other material reasons for their departure.

Resignation of M/s. Mehta Chokshi & Shah LLP effective from closing hours of August 11, 2026.
Auditor was previously appointed at the Annual General Meeting held on September 25, 2025.
Company reported a significant TTM Net Loss of Rs 23 Cr compared to a Net Profit of Rs 112.8 Cr in FY25.
Stock price has experienced a 49.1% decline over the last 12 months.
Company maintains a high Current Ratio of 18.11 despite recent operational losses.

💡 Monitor the company's announcement regarding the appointment of a successor auditor to ensure continuity in financial reporting. Investors should verify if the next quarterly results are released within the regulatory timelines despite this transition.

Oswal Agro Recommends Shael Oswal as MD and Appoints New Internal Auditor

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Aug 2026, 06:15 PM

Oswal Agro Mills has recommended the appointment of Mr. Shael Oswal, a member of the promoter group, as Managing Director for a 3-year term, subject to shareholder approval. The board also appointed M/s. Raj Gupta & Co. as Internal Auditors for FY 2026-27. These changes come as the company navigates a volatile period, with TTM revenue dropping to Rs 19 Cr compared to Rs 161.77 Cr in FY25. Despite a TTM loss of Rs 23 Cr, the company maintains a strong balance sheet with zero debt and a net worth of Rs 718 Cr.

Recommendation of Mr. Shael Oswal as Managing Director for a fixed term of 3 years
Appointment of M/s. Raj Gupta & Co. as Internal Auditors for the 2026-27 financial year
Approval of unaudited financial results for the first quarter ended June 30, 2026
Company maintains a zero-debt status with a significant net worth of Rs 718 Cr
Board meeting was conducted efficiently within a 20-minute window (16:30 to 16:50)

💡 Investors should review the detailed Q1 FY27 results to check for revenue recovery and monitor the upcoming Annual General Meeting for the formalization of the Managing Director's appointment.

Oswal Agro Recommends Shael Oswal as MD for 3 Years and Approves Q1 FY27 Results

🟡 NEUTRAL ⭐ 6/10

BOARD_MEETING 📅 07 Aug 2026, 06:05 PM

Oswal Agro Mills has recommended the appointment of Mr. Shael Oswal, a promoter group member, as Managing Director for a three-year term, pending shareholder approval. This leadership move follows a volatile FY26 where revenue dropped significantly to ₹19 Cr from ₹161 Cr in FY25, resulting in a net loss of ₹22.7 Cr. The board also approved the unaudited financial results for the quarter ended June 30, 2026, and appointed M/s. Raj Gupta & Co. as internal auditors for FY 2026-27. Despite recent losses, the company maintains a strong balance sheet with a net worth of ₹718 Cr and zero debt.

Recommended appointment of Mr. Shael Oswal as Managing Director for a period of 3 years
Approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026
Appointed M/s. Raj Gupta & Co. as Internal Auditors for the financial year 2026-27
Company maintains a high net worth of ₹718 Cr against a market cap of ₹554 Cr
TTM revenue stands at ₹19 Cr, representing a significant decline from FY25 levels of ₹161.7 Cr

💡 Investors should review the detailed Q1 FY27 results to check for a recovery in trading volumes or real estate progress after the ₹46 Cr loss in the March 2026 quarter. Monitor the upcoming Annual General Meeting for the formal approval of the new Managing Director.

Oswal Agro Mills Seeks Shareholder Approval for Appointment of 4 Independent Directors

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 05 Aug 2026, 05:38 PM

Oswal Agro Mills Limited has issued a postal ballot notice to seek shareholder approval for the appointment of four Independent Directors. Three directors (Mr. Vimal Bhatnagar, Ms. Prerna Singh, and Mr. Babu Ram Somani) are proposed for 1-year terms, while Mr. Rahul Khadriya is proposed for a 5-year term. The voting period is scheduled from August 07, 2026, to September 06, 2026. This governance move comes as the company manages a transition from a highly profitable FY25 (Rs 112.8 Cr PAT) to a loss-making FY26 (Rs -22.8 Cr PAT).

Four Independent Directors proposed for appointment via special resolutions.
Three directors proposed for a 1-year term commencing June 11, 2026.
One director, Mr. Rahul Khadriya, proposed for a 5-year term commencing July 27, 2026.
E-voting period concludes at 05:00 P.M. on September 06, 2026.
Cut-off date for voting eligibility was July 31, 2026.

💡 Investors should monitor the voting results expected by September 08, 2026, to ensure the board maintains adequate independent oversight during the company's current loss-making phase.

Oswal Agro Appoints New CFO, CS, and Independent Director to Fill Key Vacancies

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 27 Jul 2026, 07:57 PM

Oswal Agro Mills has filled critical leadership vacancies by appointing Mr. Vikas R Sharma as CFO and Mrs. Srishti Agarwal as Company Secretary, effective July 27, 2026. These roles had been vacant since June 22 and May 6, 2026, respectively. The board also appointed Mr. Rahul Khadriya as an Independent Director for a 5-year term and changed its Secretarial Auditor. This management overhaul comes as the company reported zero revenue in the March 2026 quarter and a TTM net loss of Rs 23 Cr.

Appointment of Vikas R Sharma as CFO effective July 27, 2026, following the resignation of the previous CFO on June 22, 2026
Appointment of Srishti Agarwal as CS and Compliance Officer effective July 27, 2026, filling a vacancy since May 6, 2026
Rahul Khadriya appointed as Additional Director (Independent) for a 5-year term, subject to shareholder approval
M/s Anuj Gupta & Associates appointed as Secretarial Auditor for a 5-year term from FY 2026-27 to FY 2030-31
The board meeting to approve these changes lasted 15 minutes, from 6:30 P.M. to 6:45 P.M.

💡 Investors should monitor whether the new CFO can stabilize financial reporting and help execute the company's real estate diversification strategy, given the recent lack of operational revenue.

View All OSWALAGRO Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Trading segment revenue grew by 8,563% YoY from INR 1.87 Cr to INR 161.77 Cr. Other income, primarily from interest on inter-corporate deposits and mutual fund investments, grew 11.2% from INR 10.72 Cr to INR 11.92 Cr.

Geographic Revenue Split

The company operates in domestic and overseas markets, though specific percentage splits by region are not disclosed. The management highlights India's urban growth story as a primary driver.

Profitability Margins

Operating Profit Margin improved from 32% to 84% YoY. Net Profit Margin surged from 14% to 63% for FY 2024-25, driven by high-margin trading activities and interest income.

EBITDA Margin

EBITDA margin was 84.06% for FY 2024-25, a significant increase from 34.6% in the previous year, reflecting disciplined financial management and favorable market conditions.

Capital Expenditure

Property, Plant & Equipment stood at INR 4.03 Cr, down from INR 4.21 Cr in the previous year. No major planned capital expenditure projects were detailed in the documents.

Credit Rating & Borrowing

The company has no debt (Debt-Equity Ratio: NA) and consequently no interest cost on debt, resulting in an interest coverage ratio that is not applicable.

⚙️ Operational Drivers

Raw Materials

The company deals in commodities for trading and real estate assets, which constitute its primary stock-in-trade.

Import Sources

Sourced from both domestic and overseas markets to leverage price conditions and demand/supply imbalances.

Capacity Expansion

Not applicable as the company primarily operates in trading, real estate development, and financing activities rather than manufacturing.

Raw Material Costs

Change in inventory of finished goods and stock-in-trade was INR 13.73 Cr for FY 2024-25, representing the primary cost component for the trading segment.

Manufacturing Efficiency

Not applicable; however, the company focuses on enhancing operational efficiencies and optimizing risk management.

Logistics & Distribution

Other expenses, which include distribution and administrative costs, amounted to INR 9.95 Cr, representing 5.7% of total revenue.

📈 Strategic Growth

Growth Strategy

The company aims to achieve growth through strategic project launches in the real estate sector, diversification into new sectors through new investments, and leveraging macroeconomic stability in India's urban growth story.

Products & Services

Trading of commodities, real estate development projects, inter-corporate deposits (ICDs), and mutual fund investments.

Brand Portfolio

Oswal Agro Mills Limited.

New Products/Services

The company is exploring possibilities of undertaking new real estate projects and diversifying into other sectors through new investments.

Market Expansion

Targeting India's urban growth story over the next decade with a focus on macroeconomic stability and policy continuity.

Strategic Alliances

Maintains a significant investment in an associate company, contributing INR 4.01 Cr to the consolidated net profit.

🌍 External Factors

Industry Trends

The real estate sector is evolving with a deeper integration of technology and sustainability principles, positioned to play a central role in India's urban growth over the next decade.

Competitive Landscape

The company operates in a competitive environment for commodity trading and real estate, facing risks from market downturns and competition.

Competitive Moat

The company's moat is built on its zero-debt status and high liquidity (Current Ratio of 18.11), providing a durable advantage for opportunistic investments and sector diversification.

Macro Economic Sensitivity

Highly sensitive to GDP growth and inflation, which affect demand for real estate and price conditions for traded commodities.

Consumer Behavior

Evolving consumer preferences toward sustainable development and urban living are driving the company's real estate outlook.

Geopolitical Risks

Changes in government regulations, tax laws, and international price conditions are cited as important factors affecting operations.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to real estate regulatory changes, pollution norms, and government statutes affecting demand and supply.

Taxation Policy Impact

The effective current tax rate for FY 2024-25 was 25.3%, with a total tax expense of INR 36.85 Cr on a profit before tax of INR 145.57 Cr.

Legal Contingencies

The company has disclosed the impact of pending litigations in Note 44 of the financial statements, though the specific INR value of these contingencies was not provided in the snippets.

⚠️ Risk Analysis

Key Uncertainties

Key risks include economic uncertainty (potential 10-20% impact on demand), interest rate volatility affecting ICD yields, and regulatory changes in the real estate sector.