Coastal Corporation Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
COASTCORP · price
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Coastal Corporation Limited reported FY 2025-26 standalone revenue of Rs 70,706 Lakhs, marginally up from Rs 68,906 Lakhs in the previous year. However, net profit dropped sharply to Rs 1,340 Lakhs from Rs 7,872 Lakhs in FY 2024-25, reflecting a significant decline in profitability. The auditors issued a Qualified Opinion on standalone financial statements due to non-provision of Rs 3,010 Lakhs impairment allowance on investment in wholly-owned US subsidiary Seacrest Seafoods Inc., whose business has been impacted by US tariffs. Consolidated financials received an Unmodified Opinion. The Board declared a 14% dividend and approved a Rs 350 Crore ethanol plant in Odisha through subsidiary Coastal Biotech Private Limited. Three board appointments were made, including Ms. Vineesha Valsaraj (daughter of Managing Director), which constitutes a related party transaction.
The sharp profit decline and auditor's qualified opinion on standalone results signal underlying financial stress, particularly from the US subsidiary exposure. Shareholders should monitor the outcome of potential US tariff refunds and the new ethanol project's execution.