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Eastcoast Steel Limited announced the outcome of its board meeting held on May 10, 2025. The board approved audited standalone financial results for Q4 and FY ended March 31, 2025. For the full year FY25, revenue from operations fell to ₹1,551.62 lakhs from ₹1,975.81 lakhs in FY24, a decline of about 21%. The company reported a wider net loss of ₹(14.65) lakhs compared to ₹(2.94) lakhs in the previous year, with basic EPS of ₹(0.27) versus ₹(0.05). The statutory auditor Paresh Rakesh & Associates LLP issued an un-modified opinion on the results. Additionally, the company's CEO and CFO Mr. Babush N. Kamath resigned citing personal reasons, and Mr. Ajit Krishna Honyalkar was appointed as the new CEO & CFO with immediate effect.
The widening annual loss and double-digit revenue decline point to operational weakness, while the simultaneous exit of the CEO/CFO during the results announcement may raise governance concerns among shareholders. Investors should monitor whether the new leadership can stabilize trading volumes and improve profitability in FY26.