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Eastcoast Steel Limited's board, which met on May 10, 2025, approved the audited standalone financial results for Q4 and FY ended March 31, 2025. Full-year revenue from operations fell to ₹1,551.62 lakhs from ₹1,975.81 lakhs in FY24, a decline of about 21%. The company slipped to a net loss of ₹(14.65) lakhs in FY25 versus a smaller loss of ₹(2.94) lakhs a year ago. Cash from operations was also negative at ₹(128.40) lakhs, while cash and bank balances dropped sharply to ₹726.04 lakhs from ₹1,767.96 lakhs. The statutory auditor issued an unmodified opinion. Separately, Mr. Babush N. Kamath resigned as CEO and CFO for personal reasons, and Mr. Ajit Krishna Honyalkar was appointed as the new CEO and CFO with immediate effect.
Shareholders should note weaker top-line performance, a wider full-year loss, negative operating cash flow, and a leadership change at the top. The company continues to operate only as a trader of iron and steel products after its manufacturing plant was shut down decades ago, and there are pending NCLT litigations, which keep the risk profile elevated.