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Eastcoast Steel reported FY25 audited standalone results with revenue from operations falling to ₹1,551.62 lakhs from ₹1,975.81 lakhs in FY24, a decline of about 21.5%. The company swung to a wider net loss of ₹14.65 lakhs (FY24 loss: ₹2.94 lakhs), with EPS at ₹(0.27) versus ₹(0.05) earlier. In Q4 FY25, revenue was ₹326.59 lakhs (vs ₹1,149 lakhs in Q4 FY24) but the company reported a small profit after tax of ₹11.79 lakhs due to a deferred tax credit. The statutory auditor (Paresh Rakesh & Associates LLP) issued an unmodified opinion on the results. The board also accepted the resignation of Mr. Babush N. Kamath as CEO & CFO due to personal reasons and appointed Mr. Ajit Krishna Honyalkar as the new CEO & CFO effective May 10, 2025. The company continues to operate only as a trader of iron and steel products since its manufacturing plant has been shut since 1995.
Shareholders should note a clear deterioration in top-line and bottom-line performance, with the annual loss deepening meaningfully. The leadership change at the top, combined with negative operating cash flows and ongoing NCLT litigation, suggests the company remains in a turnaround phase with limited near-term visibility on profitability.