Outcome of the Board Meeting held on 10th November 2025
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The Board approved unaudited standalone and consolidated financial results for Q2 FY26 (quarter ended 30 September 2025). On a standalone basis, total revenue for the quarter was about Rs 152 crore against Rs 150 crore in Q2 FY25, with profit after tax of around Rs 5.65 crore. On a consolidated basis, H1 FY26 revenue was about Rs 555 crore versus Rs 521 crore in H1 FY25, with H1 FY26 PAT of roughly Rs 23 crore. The Board also approved a proposal to merge its two wholly-owned subsidiaries, Continental Fisheries India Ltd (CFIL) and Coastal Biotech Pvt Ltd (CBPL), into the parent company. The auditor flagged an emphasis of matter regarding non-provision of impairment of Rs 25 crore on the investment in Seacrest Seafoods Inc (USA subsidiary) and stated they were unable to comment on it. New FPPCA-based electricity regulatory charges of about Rs 1.83 crore (Rs 74.78 lakh and Rs 108.06 lakh for FY23 and FY24) were disclosed as contingent liabilities.
Results are broadly stable with modest single-digit revenue growth on a consolidated basis. The merger of subsidiaries is a structural simplification and could streamline operations, while the auditor's emphasis on the unprovided Rs 25 crore impairment in Seacrest Seafoods remains a key risk overhang worth monitoring.