Hindustan Organic Chemicals Ltd — Board Meeting, 16-05-2025: Board Meeting

Hindustan Organic Chemicals Limited has announced a board meeting on 16th May 2025 to approve its audited financial results for the quarter and year ended 31st March 2025 (standalone and consolidated). The company reported a net profit of Rs. 60.01 Cr for the year. The Board re-appointed M/s Suneel Maggo & Associates as Internal Auditors for FY 2025-26. The Government of India waived principal and interest on loans totalling Rs. 1,35,136.71 lakhs as of September 2024, leading to a reversal of Rs. 13.81 Cr interest expense in Q4FY25. Restructuring plans are underway, including asset sales and ongoing operations at the Kochi plant. The subsidiary is in closure mode following government directives, and the group financials reflect this. The audit opinion is unmodified despite non-compliance in board composition and the audit committee being non-functional due to lack of independent directors.