It is hereby informed that the Board of Directors at its meeting held today approved the proposal to convene the 54th AGM on Thursday, September 10, 2026 at 11.00 AM through Video Conferencing/Other ....
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Welcast Steels Limited reported a total comprehensive loss of Rs 530.60 lakhs for FY2026, a significant deterioration from Rs 42.90 lakhs loss in FY2025. Revenue from operations dropped sharply to Rs 4,581.69 lakhs from Rs 8,432.58 lakhs in the previous year (45.7% decline), as the company permanently closed its only manufacturing plant in Bengaluru effective December 15, 2025. The company recorded an exceptional item of Rs 328.19 lakhs for plant closure compensation. Financial statements were prepared on a non-going concern basis as there are no plans to restart operations. The Board recommended no dividend for FY2025-26 and scheduled the 54th AGM for September 10, 2026 via video conferencing.
The permanent plant closure and substantial losses indicate severe financial distress for the company. Shareholders face uncertainty as the company has no operating business and continues only with pending labour disputes. The non-going concern basis of accounts signals potential liquidation or significant restructuring ahead.