Oswal Greentech Limited (OSWALGREEN)
₹19.37 +1.79% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Oswal Greentech's revenue was ₹4.7 Cr (-76.5% year on year, -57.2% on the previous quarter), and net profit ₹8.4 Cr (+20.3% year on year); the operating margin was -79.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹4.7 | -76.5% | -57.2% |
| Operating profit | ₹-3.8 | to loss | loss narrowed |
| Net profit | ₹8.4 | +20.3% | from loss |
| EPS (₹) | 0.33 | +26.9% | from loss |
| Operating margin | -79.9% | — | — |
OSWALGREEN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 50.07% of the OSWALGREEN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 63.03%. That is lower than usual for this stock. Turnover was only ₹24 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 62.2% · 65.8% · 53.1% · 74.3% · 50.1%
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
Shareholders of Oswal Greentech approved the appointment of M/s. BGMG & Associates as Statutory Auditors for a 5-year tenure through the 49th AGM in 2031, filling a casual vacancy from Mehta Chokshi & Shah LLP's resignation. Additionally, M/s. Anuj Gupta & Associates was appointed as Secretarial Auditor for 5 years covering FY 2026-27 to FY 2030-31 after the resignation of Jay Mehta & Associates. The company reported TTM revenue of Rs 38 Cr and a net loss of Rs -60 Cr, with the changes addressing statutory compliance and audit oversight.
- Appointment of M/s. BGMG & Associates as Statutory Auditors approved for a 5-year term until the 49th AGM in 2031
- Casual vacancy caused by the prior resignation of Statutory Auditors M/s. Mehta Chokshi & Shah LLP regularized
- Appointment of M/s. Anuj Gupta & Associates approved as Secretarial Auditor for 5 consecutive financial years (FY 2026-27 to FY 2030-31)
- Resolutions passed at the 44th Annual General Meeting held on September 29, 2026
Oswal Greentech Limited concluded its 44th Annual General Meeting on September 29, 2026. Shareholders considered and approved the standalone financial statements for FY26 along with the reappointment of Mr. Shael Oswal as a director retiring by rotation. Additionally, the appointment of M/s BGMG & Associates as Statutory Auditors and M/s Anuj Gupta & Associates as Secretarial Auditors for 5-year terms were passed with requisite majority. Detailed voting tallies will be submitted to exchanges separately.
- 44th Annual General Meeting successfully concluded on September 29, 2026
- Approval of FY26 audited standalone financial statements (FY26 revenue of Rs 53.0 Cr and net loss of Rs 61.0 Cr)
- Appointment of M/s. BGMG & Associates as Statutory Auditors for a 5-year term approved
- Appointment of M/s Anuj Gupta & Associates as Secretarial Auditor for 5 consecutive financial years approved
- Reappointment of director Mr. Shael Oswal passed by ordinary resolution
Oswal Greentech Limited announced the completion of its postal ballot voting on September 6, 2026. Shareholders approved the appointments of four Non-Executive Independent Directors: Mr. Vimal Bhatnagar, Ms. Prerna Singh, Mr. Babu Ram Somani, and Mr. Rahul Khadriya. Each special resolution received overwhelming approval, securing over 99.98% votes in favor out of approximately 18.55 crore votes polled (72.23% total turnout).
- Appointment of 4 Independent Directors approved via special resolutions
- Total votes polled stood at 18,55,06,131, representing 72.235% of outstanding shares
- Resolution for Mr. Vimal Bhatnagar passed with 99.9888% votes in favor
- Resolution for Ms. Prerna Singh passed with 99.9889% votes in favor
- Resolution for Mr. Rahul Khadriya passed with 99.9813% votes in favor
Oswal Greentech has issued notice for its 44th Annual General Meeting scheduled for September 29, 2026, via Video Conferencing. Key ordinary business includes the adoption of FY26 audited standalone financial statements and the re-appointment of director Mr. Shael Oswal, who retires by rotation. Special business items include approving M/s. BGMG & Associates as Statutory Auditors for a 5-year term (up to the 49th AGM in 2031) following the casual vacancy caused by the resignation of M/s. Mehta Chokshi & Shah LLP. Additionally, the company seeks approval to appoint M/s Anuj Gupta & Associates as Secretarial Auditor for 5 financial years (FY27 to FY31).
- 44th Annual General Meeting scheduled on Tuesday, September 29, 2026, at 12:30 P.M. IST via VC/OAVM
- Approval sought for adoption of audited standalone Ind AS financial statements for the year ended March 31, 2026
- Proposal to appoint M/s. BGMG & Associates as Statutory Auditors for 5 consecutive years until the 49th AGM in 2031
- Proposal to appoint M/s Anuj Gupta & Associates as Secretarial Auditor for 5 financial years (FY2026-27 to FY2030-31)
- Re-appointment of Mr. Shael Oswal (DIN: 00256956) as Director retiring by rotation
Oswal Greentech Limited has received the ISO 9001:2015 (Quality Management System) certification from Audittech Certification Pvt. Ltd. on August 26, 2026. The certification covers real estate development, property management, and leasing of residential and commercial properties. It is valid for a 3-year term until August 25, 2029, subject to annual surveillance audits. This is a standard operational certification with no immediate direct impact on company revenues or financial earnings.
- Received ISO 9001:2015 Quality Management System certification on August 26, 2026
- Certification is valid for 3 years, expiring on August 25, 2029 (Certificate No. E20260851861)
- Covers scope of real estate development, property management, and residential/commercial leasing
- First surveillance audit scheduled for August 25, 2027 and second for August 25, 2028
Oswal Greentech Limited has appointed BGMG & Associates as its new Statutory Auditor to fill a casual vacancy caused by the resignation of M/s. Mehta Chokshi & Shah LLP. The Board has also recommended a 5-year term for BGMG & Associates starting from the 44th AGM until the 49th AGM in 2031, subject to shareholder approval. The company's 44th Annual General Meeting is scheduled for September 29, 2026, with the register of members closed from September 22 to September 29, 2026.
- Appointed BGMG & Associates as Statutory Auditor effective August 24, 2026, to fill casual vacancy
- Proposed a 5-year consecutive term for BGMG & Associates from the 44th AGM until the 49th AGM in 2031
- Casual vacancy arose from the resignation of previous auditor M/s. Mehta Chokshi & Shah LLP
- 44th Annual General Meeting convened for September 29, 2026, at 12:30 PM via Video Conferencing
- Book closure set from September 22, 2026 to September 29, 2026
Oswal Greentech Limited announced board approval for the appointment of BGMG & Associates as Statutory Auditors to fill a casual vacancy arising from the resignation of Mehta Chokshi & Shah LLP. The board also recommended their appointment for a 5-year term from the 44th AGM until the 49th AGM in 2031. The 44th AGM is scheduled for September 29, 2026, with the register of members closed from September 22 to September 29, 2026.
- Appointed BGMG & Associates as Statutory Auditors to fill casual vacancy and recommended 5-year tenure up to the 49th AGM (2031)
- Resignation of outgoing statutory auditor M/s. Mehta Chokshi & Shah LLP noted
- 44th Annual General Meeting scheduled for September 29, 2026 at 12:30 PM via Video Conferencing
- Book closure period fixed from September 22, 2026 to September 29, 2026 (both days inclusive)
- M/s Anuj Gupta & Associates appointed as scrutinizer for the AGM
Oswal Greentech's Board approved the appointment of BGMG & Associates as Statutory Auditors to fill a casual vacancy following the resignation of Mehta Chokshi & Shah LLP, subject to shareholder approval for a 5-year term until 2031. The 44th Annual General Meeting (AGM) is scheduled for September 29, 2026, via video conferencing. Register of Members and Share Transfer Books will remain closed from September 22, 2026, to September 29, 2026.
- Appointed BGMG & Associates as Statutory Auditor to fill casual vacancy and recommended a 5-year term until 2031 (49th AGM)
- 44th Annual General Meeting convened for September 29, 2026, at 12:30 PM IST
- Book closure period set from September 22, 2026, to September 29, 2026 (both days inclusive)
- Appointed M/s Anuj Gupta & Associates as scrutinizer for AGM voting processes
Oswal Greentech announced that its Board has approved the appointment of BGMG & Associates as Statutory Auditor to fill a casual vacancy following the resignation of Mehta Chokshi & Shah LLP. The appointment is effective August 24, 2026, until the 44th AGM, with a recommendation to shareholders for a full 5-year term ending at the 49th AGM in 2031. Additionally, the company scheduled its 44th Annual General Meeting for September 29, 2026, with share transfer books closed from September 22 to September 29, 2026.
- BGMG & Associates appointed as Statutory Auditor to fill casual vacancy following the resignation of Mehta Chokshi & Shah LLP
- Board recommended a 5-year tenure for the new statutory auditor up to the 49th AGM in 2031
- 44th Annual General Meeting scheduled for September 29, 2026, at 12:30 PM via video conferencing
- Book closure set from September 22, 2026, to September 29, 2026, for AGM purposes
M/s. Mehta Chokshi & Shah LLP has resigned as the Statutory Auditor of Oswal Greentech effective August 11, 2026. The resignation is attributed to a lack of agreement on the audit fee proposal for the financial year 2026-27. The auditor has explicitly stated that there are no other material reasons or circumstances for their departure. This occurs as the company navigates a challenging financial period, having reported a TTM net loss of ₹61 Cr.
- Resignation of M/s. Mehta Chokshi & Shah LLP effective from the closing working hours of August 11, 2026.
- The auditor was previously appointed at the Annual General Meeting held on September 25, 2025.
- Resignation triggered by the company's non-approval of the fee proposal for FY 2026-27.
- Company reported a significant quarterly net loss of ₹83.0 Cr in March 2026.
- Auditor confirmed willingness to assist the incoming auditor for a smooth transition.
Oswal Greentech reported a Q1 FY27 net profit of ₹8.42 Cr, a 26% increase YoY, despite total segment revenue falling 32% to ₹18.65 Cr. A major legal overhang persists as the company is contesting an arbitration award where it received only ₹97.17 Cr against a claim of ₹472.12 Cr related to Inter Corporate Deposits (ICDs). Consequently, the company has not recognized ₹10.59 Cr in interest income this quarter. Additionally, the board approved a ₹91 Cr (AED 40M) investment for a new Dubai subsidiary and appointed Raj Gupta & Co. as internal auditors.
- Net Profit for Q1 FY27 rose to ₹8.42 Cr from ₹6.66 Cr in the year-ago period.
- Arbitration award of ₹97.17 Cr received against a total claim of ₹472.12 Cr, resulting in a ₹374.95 Cr shortfall currently being contested in Delhi High Court.
- Interest income and current assets are understated by ₹10.59 Cr for the quarter due to non-accrual of interest on disputed ICDs.
- Board approved a capital contribution of AED 40 Million (approx. ₹91 Cr) to establish a wholly-owned subsidiary in Dubai, UAE.
- Investment activities segment contributed ₹13.55 Cr to revenue, while Real Estate contributed ₹4.71 Cr during the quarter.
Oswal Greentech reported a 26% YoY increase in net profit to ₹8.42 Cr for Q1 FY27, despite a 32% decline in total segment revenue to ₹18.65 Cr. A major legal development involves an arbitration award of ₹97.17 Cr received against a claim of ₹472.12 Cr; the company is contesting the ₹374.95 Cr shortfall in the Delhi High Court. Additionally, the board approved a significant international expansion into Dubai with a capital commitment of AED 40 Million. The company continues to trade at a deep discount to its net worth of ₹2,385 Cr.
- Net profit rose to ₹8.42 Cr in Q1 FY27 compared to ₹6.66 Cr in the same quarter last year.
- Total segment revenue decreased to ₹18.65 Cr from ₹27.60 Cr in Q1 FY26.
- Arbitration award of ₹97.17 Cr received against a total claim of ₹472.12 Cr regarding ICD interest disputes.
- Interest income and current assets are understated by ₹10.59 Cr this quarter due to non-recognition pending court judgment.
- Approved investment of AED 40 Million (approx. ₹91 Cr) to establish a wholly-owned subsidiary in Dubai, UAE.
Oswal Greentech 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 a 1-year term, while Mr. Rahul Khadriya is proposed for a 5-year term. This governance move comes as the company seeks to stabilize after reporting a net loss of ₹61 Cr in FY26. The voting process will be conducted electronically between August 07 and September 06, 2026.
- 4 Independent Directors proposed for appointment via special resolutions
- 3 directors proposed for a 1-year term starting June 11, 2026
- 1 director proposed for a 5-year term starting July 27, 2026
- E-voting period scheduled from August 07, 2026, to September 06, 2026
- Cut-off date for voting eligibility set as July 31, 2026
Oswal Greentech has filled key governance roles by appointing Mr. Harshendra Mandloi as Company Secretary and Compliance Officer effective July 27, 2026. This fills a vacancy that existed since May 6, 2026. The board also approved the appointment of Mr. Rahul Khadriya as an Independent Director for a 5-year term, subject to shareholder approval. Additionally, M/s Anuj Gupta & Associates has been appointed as the Secretarial Auditor for a 5-year period starting FY27, ensuring long-term compliance oversight.
- Appointment of Mr. Harshendra Mandloi as CS & Compliance Officer effective July 27, 2026.
- Mr. Rahul Khadriya appointed as Independent Director for a 5-year term starting July 27, 2026.
- M/s Anuj Gupta & Associates appointed as Secretarial Auditor for 5 years (FY27 to FY31).
- The CS position was vacant for 82 days following the departure of the previous officer on May 6, 2026.
Oswal Greentech Limited has filled several key governance and compliance roles following its board meeting on July 27, 2026. Mr. Harshendra Mandloi has been appointed as Company Secretary and Compliance Officer, filling a vacancy that existed since May 6, 2026. The board also appointed Mr. Rahul Khadriya as an Independent Director for a five-year term and M/s Anuj Gupta & Associates as Secretarial Auditors for a five-year period starting FY 2026-27. These moves are primarily administrative to ensure regulatory compliance under SEBI and Companies Act requirements.
- Appointment of Mr. Harshendra Mandloi as Company Secretary effective July 27, 2026, replacing the previous officer who left on May 6, 2026.
- Mr. Rahul Khadriya appointed as an 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 company reported a significant net loss of ₹83.0 cr in the most recent March 2026 quarter despite a high net worth of ₹2385 cr.
Financial Performance
Revenue Growth by Segment
Revenue from operations grew 18.63% YoY, reaching INR 65.96 Cr in FY25 compared to INR 55.60 Cr in FY24, primarily driven by higher revenue recognition from completed real estate projects.
Profitability Margins
Net Profit Margin improved from 7% to 9% YoY due to cost optimization. Operating Profit Margin slightly decreased from 12% to 11% despite higher revenue, reflecting increased operational expenses.
EBITDA Margin
EBITDA margin is approximately 21.7% (INR 14.33 Cr) for FY25, supported by cost optimization initiatives and prudent resource allocation in the real estate segment.
Capital Expenditure
Property, Plant & Equipment stood at INR 116.62 Cr as of March 31, 2025, a slight decrease from INR 118.43 Cr in the previous year, indicating minimal new capital expenditure.
Credit Rating & Borrowing
Debt-equity ratio is listed as Not Applicable, suggesting a zero or negligible debt position; finance costs were INR 0.96 Cr, up 40% YoY from INR 0.69 Cr.
Operational Drivers
Raw Materials
Construction materials including cement, steel, and bricks (standard for residential and commercial real estate segments), though specific percentage of total cost is not disclosed.
Capacity Expansion
Current operations focus on completed and ongoing residential and commercial projects; specific MT/unit capacity is not disclosed.
Raw Material Costs
Changes in inventories of stock-in-trade and work-in-progress resulted in an expense of INR 38.17 Cr in FY25, compared to a credit of INR 53.98 Cr in FY24, impacting project margins.
Manufacturing Efficiency
Operational efficiency improved through cost optimization and better sales velocity, contributing to a 33.9% increase in Net Profit to INR 8.53 Cr.
Strategic Growth
Expected Growth Rate
18.63%
Growth Strategy
The company aims to leverage market opportunities through strategic project launches in residential and commercial segments, enhanced customer service, and sustainable development practices while maintaining financial discipline.
Products & Services
Residential and commercial real estate units, investment property management, and financial investments in mutual funds.
Brand Portfolio
Oswal Greentech, Abhey Oswal Group.
Market Expansion
Aims to leverage growth in both residential and commercial segments through strategic project launches.
External Factors
Industry Trends
The real estate sector outlook is optimistic with anticipated growth in residential and commercial segments; the company is positioning itself through sustainable development practices.
Competitive Landscape
Exposed to market and competition risks within the real estate industry, requiring focused project management and cost control.
Competitive Moat
Moat is built on high liquidity (Current Ratio of 31.79) and a strong balance sheet with INR 2,243.19 Cr in equity, providing a durable advantage for project funding and execution.
Macro Economic Sensitivity
Highly sensitive to domestic economic cycles and interest rates which affect real estate demand and project execution timelines.
Consumer Behavior
Strong demand environment noted in residential and commercial segments, driving better sales velocity.
Geopolitical Risks
Identified global geopolitical shifts as an important factor that could influence the company's operations and input prices.
Regulatory & Governance
Industry Regulations
Subject to Real Estate (Regulation and Development) Act (RERA) and Companies Act 2013; auditor noted non-compliance with Rule 11(g) as the audit trail feature was not enabled in accounting software.
Taxation Policy Impact
Deferred tax assets recognized for long-term capital losses on sale of investments to the extent of expected capital gains from investment property disposal.
Legal Contingencies
Pending litigations are disclosed in Note 44; the company also manages inherent uncertainties in forecasting future taxable long-term capital gains for deferred tax recognition.
Risk Analysis
Key Uncertainties
Execution risk and significant downturns in the economic cycle could impact the realization of forward-looking growth statements.
Third Party Dependencies
Exposed to execution risks involving third-party contractors and vendors for real estate development.
Technology Obsolescence Risk
Governance risk identified due to the failure to maintain an audit trail (edit log) in accounting software for the entire financial year.
Credit & Counterparty Risk
Debtor turnover ratio improved significantly from 142.59 to 204.32, indicating faster collection of receivables and improved credit management.
