Orissa Minerals Development Company Ltd. Q2 FY26 Results Review Released
The Orissa Minerals Development Company Ltd. has released its unaudited financial results for the period ended September 30, 2025. The independent auditors, SDR & Associates, have conducted a limited ...
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Why is The Orissa Minerals Development Company Limited in the news today?
The Orissa Minerals Development Company Limited (ORISSAMINE) is in the news due to the announcement is a review of financial results and highlights operational challenges and land ownership issues without any positive or negative financial performance data. the auditors' report is standard for a limited review.
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Orissa Minerals Development Company Ltd. Q2 FY26 Results Review Released
December 19, 2025, 03:44 PM
The Orissa Minerals Development Company Ltd. has released its unaudited financial results for the period ended September 30, 2025. The independent auditors, SDR & Associates, have conducted a limited review of these results. Their report indicates that nothing has come to their attention that suggests the financial statements are materially misstated or have not disclosed required information as per SEBI regulations.
However, the auditors highlighted several points of emphasis. Firstly, the company's mining operations at Belkundi and Bhadrasai Mines are suspended due to a lack of statutory clearances, although mining leases are in the process of renewal. The Bagiaburu Iron Mines commenced operations on December 14, 2023. Secondly, a significant portion of the company's land holdings, 222.375 acres out of a total of 284.17 acres, are not held in the company's name, with 41.416 acres reported to be encroached. The registration of the company's head office building in Kolkata is also pending.
Thirdly, the auditors noted that a quarterly assessment of mines stock by an independent survey has not been performed, preventing them from commenting on changes in stock position and authenticity. The financial results have been prepared on a going concern basis, considering these factors.
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