HOCL Q3 Results 2026: Net Loss Narrows to ₹3.87 Crore, Government Restructuring on Track

Mumbai:  Hindustan Organic Chemicals Limited (HOCL) reported a standalone net loss of Rs 3.87 crore for Q3 FY26, narrowing 95% from Rs 78.77 crore loss in Q3 FY25. Revenue from operations grew 17% to Rs 147.24 crore.

Biggest Trigger: Historic Debt Waiver

Government of India waived Rs 1,35,136.68 lakh of total liabilities including:

• GOI loan: Rs 43,586.46 lakh principal + Rs 47,359.79 lakh interest

• Preference shares: Rs 27,000 lakh principal + Rs 7,222.50 lakh interest

• Penal interest contingency: Rs 9,967.96 lakh

Entire accumulated interest up to September 2024 booked as exceptional item in FY25. Principal transferred to other equity.

Supreme Court Relief on Mesne Profits

Interest rate on mesne profits reduced from 8% to 6%. Excess interest of Rs 745.69 lakh reversed in Q1. Current quarter interest of Rs 31.58 lakh recognised at revised rate. Payment timeline extended by six months.

Restructuring on Track

Kochi Phenol plant operational. Sale of unencumbered land at Rasayani and Panvel in progress. Financials prepared on going concern basis.

Subsidiary: HFL Closure & Delisting

Government approved closure in Jan 2020. Delisting application filed with BSE on Dec 5, 2025. Rs 94.76 lakh paid to 66 shareholders. Subsidiary no longer a going concern.

Company waived future interest of Rs 5.30 lakh/month on Rs 453.01 lakh loan to HFL from April 2023.

Governance: Independent Directors Shortage

Board has 6 directors (meets minimum strength) but lacks adequate independent directors – non-compliance with SEBI Regulation 17(1)(b). Auditor gave unmodified opinion with emphasis on this, restructuring, and subsidiary loan waiver.

Key Numbers at a Glance:

9M FY26: Net loss Rs 28.61 Cr (down 78%), revenue Rs 437.40 Cr (up 10%).

Consolidated net loss: Rs 3.88 Cr (Q3), Rs 28.27 Cr (9M).

Board Meeting: Feb 12, 2026 | 3:30 PM – 5:15 PM | Unmodified audit opinion | UDIN unavailable, draft report filed.