Pursuant to Regulations 30 and 33 of the Listing Regulations, we wish to inform you that the Board of Directors at its meeting held today (13th August, 2025) has interalia, duly approved ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors of Eastcoast Steel Ltd, at its meeting on 13 August 2025, approved the unaudited standalone financial results for Q1 FY26 (quarter ended 30 June 2025). Revenue from operations collapsed to ₹0.85 lakhs from ₹326.59 lakhs in the same quarter last year, a near-total decline. Other income stood at ₹50.43 lakhs, leading to a total income of ₹51.28 lakhs versus ₹1,026.59 lakhs a year ago. Despite weak revenue, the company posted a net profit of ₹14.65 lakhs (down from ₹26.69 lakhs), helped by other income. The Board also approved re-appointing M/s Paresh Rakesh & Associates LLP as Statutory Auditors for a further 5-year term, subject to shareholder approval at the 42nd AGM. The auditor's review report was clean with no qualifications. Note 5 confirms prior period figures have been restated/regrouped for comparability.
Sharp revenue decline raises concerns about core trading activity, though the company remains marginally profitable on the back of other income. Pending NCLT litigation and the company's history of suspended manufacturing since 1995 remain overhangs. Re-appointment of the existing auditor signals continuity rather than any governance red flag.