**1. Financial Highlights:** OAL's Q1-FY26 revenue was ₹225.5 Cr.

Net profit stood at ₹0.5 Cr (0.22% margin), EBITDA at ₹18.1 Cr (8.03% margin). Production grew 10% YoY, sales 4% YoY.

FY25 saw significant capex completed, with Property, Plant & Equipment increasing to ₹413.1 Cr and Capital Work in Progress sharply down. **2. Strategic Initiatives & Growth Drivers:** OAL aims for global leadership in aroma chemicals and F&F, leveraging its integrated operations.

The Mahad plant's ongoing ramp-up is crucial for boosting sales and driving future margin recovery. **3. Business Developments:** An integrated producer of aroma chemicals, camphor, fragrances, and flavours, OAL serves diverse industries.

It's positioned as a comprehensive solution provider for the flavour and fragrance market. **4. Market Position & Competitive Advantage:** OAL is one of India's largest and a globally integrated manufacturer.

Its broad product range and balanced domestic (55%) / international (45%) sales provide a competitive edge. **5. Investor Implications:** Q1 shows profitability pressures from the Mahad plant's initial ramp-up and planned maintenance, despite volume growth.

Investors should monitor Mahad sales for expected margin recovery and the impact of completed capex on future growth.