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 reported its Q3 FY26 unaudited results, dominated by the permanent closure of its only factory in Bangalore effective December 15, 2025, which was approved by the Board in October 2025. Total revenue from operations collapsed to ₹261.79 lakhs in Q3 FY26 from ₹2,307.91 lakhs in Q3 FY25, a drop of nearly 89%. The company posted a net loss of ₹315.73 lakhs for the quarter and ₹668.31 lakhs for the nine-month period, against a small profit in the year-ago quarter. Exceptional expenditure of ₹321.91 lakhs (nine months) was booked for factory closure compensation under the Industrial Relations Code. The financial statements have NOT been prepared on a going concern basis, and the Board is still deciding the company's future course. Statutory auditor Dagliya & Co. issued an unqualified limited review conclusion but included an Emphasis of Matter on the closure and going concern issues.
Highly negative for shareholders — the company has shut down its sole manufacturing unit, revenue has collapsed, losses have deepened sharply, and the future of the business is uncertain with no going concern basis. Expect significant negative reaction in the stock and potential delisting/restructuring concerns given that AIA Engineering holds 74.85%.