The Orissa Minerals Development Company Ltd. (OMDC) – Q1 FY26 Results Summary
Announcement Date: 2 September 2025
Financial Highlights (Standalone):
- Revenue from operations: Rs. 19.37 crore, up 187% QoQ (Q4 FY25: Rs. 6.73 crore) and 40% YoY (Q1 FY25: Rs. 13.87 crore)
- Total income: Rs. 21.03 crore (includes Rs. 1.66 crore other income)
- Net loss: Rs. 2.79 crore, improved from Rs. 31.44 crore loss in Q4 FY25 and Rs. 2.08 crore loss in Q1 FY25
- EPS (Basic & Diluted): (Rs. 4.64) vs. (Rs. 52.41) in Q4 FY25 and (Rs. 3.46) in Q1 FY25
- EBITDA margin not explicitly stated; finance costs remain high at Rs. 5.18 crore
- Depreciation sharply lower at Rs. 0.15 crore vs. Rs. 2.20 crore in prior quarter
Segment Performance:
- Iron Ore segment revenue: Rs. 19.37 crore (Q4 FY25: Rs. 6.73 crore)
- Iron Ore segment profit before finance cost and tax: Rs. 2.21 crore, reversing prior quarter losses of Rs. 31.35 crore
- Other segments (Manganese Ore, Sponge Iron) inactive or negligible
Balance Sheet / Other Financial Items:
- Paid-up equity capital: Rs. 60 lakh
- Reserves deficit increased to Rs. (54.96) crore
- Significant outstanding statutory dues of approximately Rs. 9.11 crore (Provident Fund, GST, Gratuity, etc.)
- Provision of Rs. 27.15 crore created in FY25 related to compensation demands on mining leases
- Land holdings: Only 61.80 acres held in company name (out of 284.17 acres), with encroachment issues on 0.35 acre; 222.38 acres not in company name, 41.42 acres encroached
Operational and Compliance Notes:
- Mining operations at Belkundi and Bhadrasai mines suspended due to pending statutory clearances; leases under renewal
- Bagiaburu Iron Mines operational since December 2023
- Delay in GST, TDS, and TCS filings for April-June 2025 resulted in interest and late fees of Rs. 64,169
- No new capital expenditure or project updates disclosed
Management Commentary:
- Financials prepared on a going concern basis despite operational suspensions and statutory issues
- Emphasis on resolving mining lease renewals and statutory compliance
- Annual mine stock valuation maintained; no quarterly independent verification
Outlook:
- No explicit guidance provided for upcoming quarters
- Focus remains on lease renewals, statutory compliance, and operational ramp-up of Bagiaburu Iron Mines
This summary captures the key financial and operational data points from OMDC’s Q1 FY26 standalone results for investment analysis purposes.