Coastal Corporation Ltd

Coastal Corporation Limited – Trading Window Closure

Coastal Corporation Ltd — Trading Window Closed from 1 October 2026 until 48 hours after the declaration of the Un-Audited Financial Results for the quarter ended 30 September 2026

Rating action and instruments

• Long-term bank facilities of Rs 68.28 crore upgraded to CARE B+ with Stable outlook.
• Long-term/short-term facilities of Rs 273.50 crore upgraded to CARE B+/CARE A4 with Stable outlook.
• Total facilities now Rs 341.78 crore.
• Rationale: Based on FY26 audited and Q1FY27 unaudited results affecting credit profile.
• Outlook: Stable for all rated facilities.
• Material change: Upgrade from CARE D to B+; outlook remains Stable.
• Rating agency: CARE Ratings Limited (CareEdge).

AGM Details

• Date: 27-08-2026; Start: 10:00 AM; End: 11:00 AM; mode: VC attendance.
• Record date: 20-08-2026; shareholders on record: 14,470.
• Attendance via video conferencing: Promoter group 4; Public attendees 39.

Resolutions & outcomes

• Adoption of audited standalone and consolidated financial statements for FY2025-26; passed 100% in favour.
• Final dividend of Rs 0.28 per equity share; passed 100% in favour.
• Re-appointment by rotation of director; passed 100% in favour.
• Appointment of Sankara Rao as Independent Director; passed 100% in favour.
• Approval of material related party transactions; passed 100% in favour.
• Appointment of Ms. Vin as Independent Director; passed 100% in favour.
• Appointment of Narayan Rao as Independent Director; passed 100% in favour.

Director changes

• Director re-appointment by rotation: Jeeja Valsaraj.
• Independents appointed: Sankara Rao; Ms. Vin; Narayan Rao.

Related party transactions

• Material related party transactions approved; details not disclosed.

AGM Details

• AGM held on 27 August 2026 at 10:00 IST via VC/OAVM.
• Chair presiding: T. Valsaraj; meeting concluded at 11:00 IST.
• Remote e-voting conducted Aug 24–26, 2026.

Dividend

• Final dividend proposed: Rs 0.28 per equity share.

Ordinary Business

• Adoption of audited standalone and consolidated financial statements for FY 2025-26.
• Re-appointment of Smt. Feeja Valsaraj on rotation.

Special Business

• Re-appointment of Dr. Emandi Sankara Rao as Non-Executive Independent Director.
• Approval of related party transactions.
• Appointment of Vineesha Valsaraj as Non-Executive Non-Independent Director.
• Appointment of NS Narayan Rao as Independent Director.

Director Changes

• Dr. Emandi Sankara Rao re-appointed as Non-Executive Independent Director.
• Vineesha Valsaraj appointed as Non-Executive Non-Independent Director.
• NS Narayan Rao appointed as Independent Director.
• Smt. Feeja Valsaraj re-appointed as Director on rotation.

Voting Status

• Voting results will be submitted separately to stock exchanges.

Incremental EBPP allocation

• Coastal Biotech, a Coastal Corporation subsidiary, received incremental EBPP Ethanol allocation for ESY 2025-26.
• The allocation is 4,310 KL to supply to BPCL, IOCL, and HPCL under EBPP across locations.

Bank repayment-date clarification

• Context: clarification following a recent credit rating revision on repayments.
• Funds for scheduled repayments were available; bank records reflect processing dates.
• MTM/FCY movements and facility-level processing cause value-dating, not borrower delays.
• May 31, 2025: EMI recovery for Cash Credit/OD; no borrower delay.
• Dec 1, 2025: EMI recoveries for two loans completed; value-date Nov 30, 2025; no delay.
• Mar 2, 2026: EMI recoveries for two loans completed; value-date Feb 28, 2026; no delay.
• Apr 8, 2026 & May 7, 2026: recoveries completed after MTM/FCY delays; WC constraints resolved.
• Overall account conduct satisfactory; no stress observed in facilities.

Rating action

• Long-term bank facilities Rs 68.28 crore downgraded to CARE D from CARE BB.
• Long-term/short-term facilities Rs 273.50 crore downgraded to CARE D / CARE D.

Rated facilities

• Total facilities rated Rs 341.78 crore.
• Long-term bank facilities and fund-based limits comprise the above totals.

Rationale

• Downgrade due to FY26 operational and financial performance and delays in annual report.
• Possible impact on credit profile cited by CARE Ratings.

Outlook / Change since last rating

• Outlook not disclosed in action; prior rating had Stable outlook.
• Change since last rating: Downgraded from CARE BB; prior outlook Stable.

Agency

• Rating agency: CARE Ratings Limited (CareEdge Ratings).

Material changes

• Downgrade from CARE BB to CARE D for both instruments.