In continuation to our letter dated 06th November, 2025 and pursuant to Regulation 30 and 33 and other applicable provisions of the SEBI Listing Regulations, we enclose the Statement ....
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Eastcoast Steel's Board, at its 14 November 2025 meeting, approved unaudited standalone results for Q2 and H1 FY26. Revenue from operations for Q2 FY26 was effectively nil (Rs 0.00 lakh) versus Rs 215.36 lakh in Q2 FY25, and H1 FY26 revenue collapsed to Rs 0.85 lakh from Rs 1,225.03 lakh a year ago. Total income for H1 FY26 stood at Rs 86.32 lakh, nearly all of it 'other income' (Rs 85.47 lakh). The company reported a net profit of Rs 19.47 lakh for H1 FY26 against a loss of Rs 57.83 lakh in H1 FY25, giving EPS of Rs 0.36. The auditor (Paresh Rakesh & Associates LLP) issued an unqualified review report. Management noted that the company has done no manufacturing since April 1995 and now operates only as a trader of iron and steel products. Two NCLT Chennai petitions against the company were discussed in the notes; one was dismissed on 18 September 2025 (with petitioners indicating an NCLAT appeal) and another is adjourned to 8 January 2026.
Operating business is virtually non-existent, with profitability entirely dependent on interest and investment income from cash/investments. Despite a headline swing to profit, shareholders should note the collapse in real trading activity and ongoing insolvency-related litigation that could create headline risk. Short-term outlook hinges on investment income and resolution of the NCLT matters.