Oil Country Tubular Limited announced the outcome of its Board Meeting held on April 09, 2026. The Board has approved a Term Loan Agreement with Cosmos Co-Operative Bank Ltd. for an amount of ₹6.82 Crores (Rupees Six Crores Eighty-Two Lakhs Only). The purpose of this loan facility is for the purchase of new machinery and equipment. The agreement was executed on April 9, 2026. The loan is secured by the hypothecation of the machinery and equipment to be purchased, as well as a mortgage charge on the company's Industrial Shed located in Kakinada, Andhra Pradesh. The Board meeting commenced at 11:30 A.M. (IST) and concluded at 12:25 P.M. (IST). The company also clarified that it does not have any subsidiary companies. Further details of the Term Loan Agreement are available on the company's website, www.octlindia.com.
