Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith Unaudited Financial Results of the Company for the Quarter / Half ....
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Awaiting price reaction for this filing.
Welcast Steels reported Q2 FY26 revenue from operations of ₹2,066 lakhs, up about 27% from ₹1,623 lakhs in Q2 FY25. For the half year, revenue rose modestly to ₹4,344 lakhs versus ₹4,062 lakhs a year ago. However, the company posted a loss after exceptional items of ₹339 lakhs in Q2 and ₹379 lakhs in H1, with EPS at ₹(55.25) for the half year. The big news is an exceptional charge of ₹299 lakhs taken for permanent factory closure — the Board decided on October 15, 2025 to shut down its only manufacturing unit at Peenya Industrial Area, Bangalore effective December 15, 2025. Because of this, the financials were NOT prepared on a going-concern basis. Operating cash flow for H1 was actually positive at ₹321 lakhs, helped by working capital releases. AIA Engineering continues to hold 74.85% as the parent company.
Shareholders should note this is a significant corporate event — the company is winding down its sole operating factory, so future business continuity is uncertain and the Board is still deciding on the next course of action. The stock may react negatively given the closure, loss-making results, and going-concern qualification, though the holding company (AIA Engineering) provides a backstop.