The Orissa Minerals Development Company Limited — Board Meeting, 17-06-2025: Outcome of Board Meeting

Orissa Minerals Development Company has announced a board meeting outcome approving the audited standalone financial results for FY 2024-25. The company reported a cash loss of Rs 44.45 Cr this year while avoiding cash losses in the prior year. Inventory verification highlighted some valuation and reconciliation issues, especially with iron ore stocks at non-operational mines. Significant unpaid disputed dividends and pending statutory dues, including mining penalty cases running into thousands of crores, remain unresolved. The audit flagged weaknesses in internal controls over fixed assets, budgeting, and inventory management, but confirmed the financial statements fairly represent the company’s position. No fund-raising or board changes were reported.