Shree Rajiv Lochan Oil Extraction Limited is a Raipur-based industrial entity primarily positioned within the **Indian oil extraction and agro-commodity sector**. Listed on the **Bombay Stock Exchange (BSE)**, the company is currently navigating a strategic transition phase characterized by the resumption of its trading status, a restructuring of its capital allocation framework, and a focus on scaling operations through subsidiary-led growth. --- ### **Operational Governance and Corporate Structure** The company maintains its registered office in **Raipur, Chhattisgarh**, and operates under a governance framework designed to ensure regulatory alignment and ethical oversight. * **Board Oversight:** The company is led by **Shri Harish Raheja (Managing Director)**. The governance structure is supported by three mandatory committees: * **Audit Committee:** Comprising **3 directors** (2 Independent, 1 Executive). * **Stakeholder Relationship Committee:** Comprising **3 members**. * **Nomination and Remuneration Committee:** Comprising **3 Non-Executive directors**. * **Internal Controls:** Management has established a **Vigil Mechanism** and a **Whistle Blower Policy** under **Section 177** of the Companies Act, 2013, to facilitate the reporting of unethical conduct. * **Asset Integrity:** All title deeds for **immovable properties** are held in the company’s name. Management conducts regular **physical verification** of **Property, Plant, and Equipment (PPE)**. Notably, there have been **no revaluations** of PPE or Right of Use assets in recent reporting cycles. | Component | Details | | :--- | :--- | | **Registered Office** | 27/3, Jawahar Nagar, Raipur, Chhattisgarh | | **Primary Exchange** | **BSE (Bombay Stock Exchange)** | | **Legal Status** | No material orders impacting **Going Concern** status | | **Compliance Framework** | **Code of Conduct** and **Vigil Mechanism** active | --- ### **Capital Structure and Financial Performance** The company is currently emerging from a period of operational inactivity in its core business, with recent financial results reflecting a reliance on non-operating income streams. #### **Financial Snapshot (FY 2023-24 to FY 2024-25)** The following table details the audited financial performance (figures in **₹ Lakhs**): | Particulars | FY 2024-25 | FY 2023-24 | | :--- | :--- | :--- | | **Net Sales** | **0.00** | **0.00** | | **Other Income** | **35.36** | **24.85** | | **Total Income** | **35.36** | **24.85** | | **Total Expenses** | **48.04** | **14.49** | | **Profit Before Tax (PBT)** | **(12.68)** | **10.35** | | **Profit After Tax (PAT)** | **(12.68)** | **7.74** | #### **Capital and Equity Details** * **Authorized Share Capital:** **₹4.50 Crores** (4,500,000 equity shares at **₹10** each). * **Paid-Up Share Capital:** **₹3.018 Crores**. While the issued capital is **₹4.093 Crores**, the total is impacted by **Calls in Arrears** on **2,156,000 equity shares**. * **Operational Status:** The company did not engage in active **oil extraction** during the **2023-25** period. Revenue was generated via **Other Income**, including **₹15.55 Lakhs** in interest earnings. * **Shareholder Returns:** No **dividend** was recommended for the recent cycles. There were no instances of **Share Buybacks**, **Bonus Shares**, **Sweat Equity**, or **ESOPs**. --- ### **Strategic Expansion and Capital Allocation Framework** To facilitate a return to active operations and scale the business footprint, the company has adopted an aggressive capital deployment strategy. * **Enhanced Investment Limits:** The company is seeking to increase its investment, loan, and guarantee limits to **Rs. 10 Crores** beyond the statutory thresholds defined under **Section 186 (2)** of the Companies Act. * **Group Synergy:** Strategy is focused on the subscription of securities and provision of guarantees to **wholly-owned subsidiaries** and **joint ventures**. * **Deployment Thresholds:** Management is utilizing an enabling resolution to deploy funds exceeding **60% of paid-up share capital, free reserves, and securities premium** (or **100% of free reserves and securities premium**, whichever is higher). * **Growth Objective:** The primary goal is "expanding business further" through strategic lending and the acquisition of securities to support operational scaling. --- ### **BSE Listing Status and Regulatory Recovery** A pivotal development for investors is the normalization of the company’s listing status on the **Bombay Stock Exchange**. * **Revocation of Suspension:** Trading was suspended on **September 18, 2013**, due to penal reasons. Following the completion of all formalities and the payment of listing fees up to **March 31, 2024**, the **revocation of suspension** was processed, leading to the **resumption of trading** during the **2024-2025** period. * **Compliance Rectification:** While the company has cleared major hurdles for trading, it continues to address observations regarding **Regulation 17** (Independent Director ratios) and **Regulation 46** (website transparency) of the **SEBI (LODR) Regulations, 2015**. --- ### **Risk Profile and Mitigation Strategies** The company operates in a high-volatility environment influenced by both regulatory hurdles and agro-economic shifts. #### **Market and Operational Risks** * **Commodity Volatility:** As the business relies on **agro-based commodities**, it is highly sensitive to **monsoon quality**, global crop yields, and international trade trends. * **Competitive Landscape:** The industry is seeing significant **consolidation**, with **multinational entities** utilizing superior logistics to challenge smaller domestic players. * **Macroeconomic Sensitivity:** Exposure to changes in **government regulations**, **tax laws**, and domestic supply-demand imbalances. #### **Regulatory and Financial Risks** * **Audit Observations:** Secretarial Auditors have noted historical gaps in documentary evidence regarding the dispatch of **Annual Reports** for **FY 2021-22 through FY 2023-24**. * **Insolvency Status:** There are currently **no proceedings** pending under the **Insolvency and Bankruptcy Code (IBC) 2016**, and no **One Time Settlements (OTS)** have been entered into with lenders. #### **Risk Management Summary** | Risk Category | Mitigation / Status | | :--- | :--- | | **Price Fluctuations** | Use of **commodity exchanges**, **futures**, and **hedging** to manage input costs. | | **Regulatory Compliance** | Ongoing efforts to align Board composition with **SEBI** mandates. | | **Liquidity/Debt** | No valuation differences reported; no significant debt settlements pending. | | **Operational Scaling** | Strategic focus on **subsidiary support** to diversify risk and expand reach. |