Blue Coast Hotels Ltd

Blue Coast Hotels Limited trading window closed from October 1, 2026 for unaudited quarterly and half-year results ended September 30, 2026; will reopen 48 hours after the results are announced

AGM details

• AGM held 26 September 2026 via VC/OAVM.
• Start time 4:00 PM; end time 4:39 PM.
• Record date for voting entitlement: 19 September 2026.
• Remote e-voting window: 23–25 September 2026.
• Voting during AGM available for non-remote voters.
• Scrutinizer appointed; Annexure-I and Annexure-II attached.

Key resolutions

• Resolution 1: Adoption of standalone and consolidated financial statements.
• Resolution 2: Reappointment of Kushal Suri as director by rotation.

Voting outcomes

• Resolution 1 passed as ordinary resolution.
• Resolution 2 passed as ordinary resolution.

Director changes

• Director Kushal Suri retires by rotation and is reappointed.

AGM details

• Date and time: September 26, 2026, 04:00 P.M. IST; VC/OAVM.
• Venue deemed at the registered office; quorum present.

Key resolutions & voting

• Ordinary resolution to adopt standalone and consolidated financial statements; e-voting; results within 2 working days.
• Ordinary resolution to re-appoint Kushal Suri by rotation; e-voting; results within 2 working days.

AGM notice and access details

• 33rd AGM scheduled Sept 26, 2026 at 4:00 PM IST via Video Conference.
• Electronic AGM Notice and FY2025-26 Annual Report accessible online; some emails not registered.
• Web-link and QR code provided to access Annual Report 2025-26.
• Remote e-Voting open Sept 23, 2026, 9:00 AM to Sept 25, 2026, 5:00 PM.
• Resolutions to be passed through remote e-Voting and e-Voting at AGM.
• Annual Report also available on BSE/NSE portals and NSDL e-voting site.
• Physical shareholders should dematerialise and update KYC and nomination details.

Financial performance

• Standalone revenue from operations: ₹203.82 lakh in FY2025-26.
• Consolidated revenue from operations: ₹203.82 lakh in FY2025-26.
• Standalone profit after tax: ₹-208.07 lakh for FY2025-26.
• Consolidated profit after tax: ₹-209.31 lakh for FY2025-26.
• Standalone total comprehensive income: ₹-233.28 lakh; Consolidated: ₹-234.52 lakh.
• Standalone EPS (basic): ₹-1.38; Consolidated EPS (basic): ₹-1.39.
• Standalone cash flow from operations: ₹372.20 lakh; Consolidated: ₹371.89 lakh.
• Standalone cash flow from investing activities: ₹43.19 lakh; Consolidated: ₹43.18 lakh.
• Standalone cash flow from financing activities: ₹-409.48 lakh; Consolidated: ₹-409.47 lakh.
• No dividend declared for 2025-26 due to absence of profit.

Capital structure & equity

• Authorized share capital: ₹108 crore; equity 2,65,00,000 shares and preference 81.50 lakh shares.
• Issued, subscribed & paid-up capital: ₹54.25 crore; 1,71,92,457 equity shares.
• CCPS conversions increased equity share count; total paid-up equity rose to ₹19.68 crore by May 2026.
• On May 13, 2026, 24,87,100 equity shares issued on CCPS conversion.
• Outstanding 0.01% Redeemable Preference Shares: 34,56,890; CCPS: 2,48,710.
• Unpaid dividends on RPS: ₹485.27 lakh; outstanding redemption on RPS ₹551.89 lakh.
• Conversion of CCPS increases equity capital without cash outflow.

Governance & board

• Board size six; one Whole-Time Director, four Independent Directors, one Non-Executive Director.
• Vijay Jain re-appointed Independent Director for five years from 1 Mar 2026.
• Manujendu Sarker reappointed through rotation; six board meetings held in 2025-26.
• Audit Committee comprises four Independent Directors; meeting cadence maintained.
• Secretarial audits by Ajay K. & Associates with no material deviations.

Audit & controls

• Statutory auditors changed; Virender K Jain & Associates appointed for five-year term from 2025.
• Independent auditor notes material uncertainty related to going concern (standalone and consolidated).
• Emphasis on ongoing litigation and regulatory matters affecting liquidity and going concern.
• Internal financial controls considered adequate and operating; internal audit reports reviewed.
• Secretarial audits grade compliance with corporate governance; no material qualifications.

Regulatory & litigation matters

• SEBI settlement in Jan 2026; Company paid ₹78.0 lakh and WTD ₹11.37 lakh; proceedings disposed.
• Goa Park Hyatt hotel auction proceeds dispute with PACL/IFCI; SAT directed stays pending disposal.
• SFIO/SEBI proceedings and ongoing adjudication; outcomes pending; potential material impact on going concern.
• Management notes ongoing efforts to resolve liabilities and leverage subsidiary support.

Subsidiaries & related party

• Subsidiaries: Blue Coast Hospitality Limited and Golden Joy Hotel Private Limited; both wholly owned.
• Related party transactions were at arm's length; no materially significant related party transactions disclosed.
• Annexures C-C1/C-C2 cover secretarial audits of material subsidiaries.
• Key management personnel include Kushal Suri (WTD), Kapila Kandel (Company Secretary), Rahul Chauhan (CFO).

Risks & outlook

• Material uncertainty regarding going concern persists due to past losses and negative net worth.
• Management relies on ongoing operations, potential monetisation of Goa land, and support from a wholly owned subsidiary.
• Risk factors include ongoing regulatory/SEBI matters and potential impact on liquidity.

Standalone results

• Standalone revenue from operations Rs 35.00 lakh; total revenue Rs 50.40 lakh; net loss Rs 27.52 lakh; EPS -0.15.

Consolidated results

• Consolidated total revenue Rs 50.40 lakh; net loss Rs 27.83 lakh; EPS -0.15.

Capital changes

• Converted remaining 2,48,710 CCPS of Rs 210 to 69,31,100 equity shares; no CCPS outstanding.

AGM & dates

• 33rd AGM approved for Sep 26, 2026; cut-off date Sep 19, 2026.

Going concern

• Going concern due to losses and negative net worth; support from Blue Coast Hospitality mitigates.

Dividend default

• Default on dividend for cumulative redeemable preference shares Rs 485.27 lakh; redemption Rs 551.89 lakh outstanding.

Meeting Details

• Board meeting scheduled for 7 August 2026; time and venue not disclosed.

Key Agenda Items

• Approval of unaudited standalone/consolidated financial results for quarter ended 30 June 2026.

Other Notes

• Trading window for designated persons remains closed until 48 hours after information becomes public.