WELCAST STEELS LTD.

Manufactured Hi-chrome Grinding Media — grinding balls used in cement, mining and thermal power plants — at a single plant in Peenya Industrial Area, Bengaluru, set up in 1972. The Board approved permanent closure of this factory effective 15 December 2025, citing outdated technology, high production costs, space constraints and falling capacity utilisation, and stated that modernisation was not financially feasible. FY26 financials cover part-year operations followed by inventory disposal and were prepared on a non-going concern basis; the Board is yet to decide on the company's future direction. AIA Engineering Limited holds 74.85% as the parent company and the company has no subsidiaries. Revenue came from a single stream — Hi-chrome Grinding Media sales. Revenue from operations was ₹4,581.69 lakhs in FY26 against ₹8,432.58 lakhs in FY25, with the drop reflecting the run-down ahead of closure. The company posted a net loss of ₹530.22 lakhs in FY26 versus ₹33.74 lakhs in FY25, including an exceptional item of ₹328.19 lakhs for plant closure compensation under the Industrial Disputes/Relations Code. Materials were the largest cost at 52.7% of revenue, followed by other operating expenses at 32.0% and employee costs at 14.4%. With the plant shut, the company is now disposing of remaining inventory.