EAST COAST STEEL LTD.

Has not manufactured anything since April 1995 and disposed of its plant land in 2020, and now operates solely as a trader of iron and steel products. Trading activity effectively collapsed in FY26 — revenue from operations for the nine months ended December 2025 was Rs 0.85 lakh against Rs 1,272.20 lakh a year earlier, with Q2 and Q3 FY26 both posting essentially zero operating revenue, and the bulk of FY26's Rs 1,681.87 lakhs of operating revenue landing in Q4 FY26 alone. The reported FY26 net profit of Rs 57.67 lakhs (turning around from a Rs 15.32 lakh loss in FY25) came almost entirely from other income of Rs 174.62 lakhs rather than steel trading. Operating cash flow was negative at Rs 1,464.09 lakhs for the year, and short-term borrowings rose to Rs 455.61 lakh from Rs 255.41 lakh as of March 2025. Employee costs at 2.6% of revenue and other operating expenses at 7.9% of revenue make up the bulk of the cost base, with no spend on materials, depreciation or capex. Ongoing NCLT/NCLAT insolvency proceedings filed by M.B. Gupta HUF and Suresh Kumar Jalan remain unresolved, and an NCLT Chennai order on 18 September 2025 went in the company's favour in one of those matters.