⚡ Flash Summary

Oilboy Energy Limited is holding an Extra-Ordinary General Meeting (EOGM) on December 16, 2025, to seek shareholder approval for a change in the utilization of funds raised through a prior rights issue. The original plan was to use Rs. 250,000,000 for a “Bio-Oil from Pyrolysis – Waste to Energy through Fast Pyrolysis” project. However, due to adverse economic conditions, import restrictions, and project cost escalations, the company has decided not to proceed with the initial project. The funds will now be directed towards expanding the company’s existing trading business in coal, LPG, and allied fuel products, as well as enhancing storage, logistics, supply chain infrastructure, and strengthening working capital.

📌 Key Takeaways

• 📅 EOGM scheduled for December 16, 2025, to discuss a change in fund utilization.
• 💰 Original plan was to use Rs. 250,000,000 from a rights issue for a “Bio-Oil from Pyrolysis” project.
• 🚫 Project scrapped due to adverse economic conditions, import restrictions, and escalating costs.
• 📈 Revised plan to use funds for expanding existing trading business in coal, LPG, and allied fuel products.
• 🚚 Funds will also enhance storage, logistics, and supply chain infrastructure.
• 💼 Strengthening of working capital base and related operating assets is also planned.
• 📜 Shareholders are required to approve the change in fund utilization through a special resolution.
• 🔒 Share transfer books will be closed from December 9, 2025, to December 16, 2025.
• 🗳️ Members can attend, speak, and vote at the meeting or appoint a proxy.
• 💻 Video conference facility available for members holding 10% of paid-up capital residing in remote cities.
• 📧 Members can attend the EOGM through a video link by registering themselves via email (inambsp@gmail.com).
• ✉️ Postal ballot and e-voting options are available for members to exercise their voting rights.
• 🎁 No gifts or incentives will be distributed at the General Meeting.

🎯 Investment Thesis

Given the scrapped Pyrolysis project and the revised utilization plan, a HOLD recommendation is appropriate. The company’s future performance hinges on the successful implementation of its new strategy and its ability to navigate the challenging market conditions. A price target cannot be accurately determined without further financial details. The time horizon for reassessing the investment thesis is MEDIUM_TERM (12-18 months).