Coastal Corporation Limited has given Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 - Project updates
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Coastal Corporation's wholly owned subsidiary Coastal Biotech Private Limited has successfully completed trial runs of its Ethanol Project and will begin full-scale commercial production from May 19, 2025, which the company expects to significantly boost revenue. Separately, the Odisha Processing Plant of another wholly owned subsidiary, Continental Fisheries India Limited (CFIL), has been temporarily put on hold due to geopolitical challenges, newly proposed USA tariffs on Indian exports, and broader global economic uncertainty. Land for the Odisha plant has been acquired and civil works were initiated, but the project is paused; CFIL is currently using third-party services for shrimp processing and exports to maintain business continuity while it monitors the situation.
The ethanol plant go-live is a positive growth trigger that should support topline in the near term, while the Odisha plant delay adds some execution and demand uncertainty, partly offset by the company's interim arrangement to keep exports running via third-party processors.