Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith Unaudited Financial Result of the Company for the Quarter/Nine ....
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Welcast Steels has permanently closed its only factory in Bangalore (Peenya Industrial Area) effective December 15, 2025, and the Board is yet to decide the company's future course. Because of the shutdown, the financial results were NOT prepared on a going-concern basis and the statutory auditor (Dagliya & Co.) has flagged this with an 'Emphasis of Matter' note in its limited review. Revenue from operations collapsed to ₹281.79 lakhs in Q3 FY26 versus ₹2,307.91 lakhs in Q3 FY25 — an almost 88% drop — while nine-month revenue fell to ₹4,599.54 lakhs from ₹6,489.54 lakhs. The company swung to a Q3 net loss of ₹315.73 lakhs (vs profit of ₹11.29 lakhs a year ago) and a 9-month net loss of ₹668.31 lakhs, with loss per share of ₹104.72 for nine months. Exceptional expenses of ₹325.19 lakhs (9M) were booked for worker closure compensation under the Industrial Relations Code, adding to the loss. AIA Engineering continues to hold 74.85% of the equity.
This is a deeply negative development — the only operating unit is shut, the auditor has raised a going-concern issue, and losses are mounting with one-time closure costs. Shareholders should expect continued share-price pressure and uncertainty, though majority owner AIA Engineering's backing limits (but does not eliminate) going-concern risk for investors.