Welcast Steels Ltd

Financial highlights

• Revenue from operations: 4,897.35 lakhs in FY2025-26.
• Total income: 5,096.04 lakhs in FY2025-26.
• EBITDA: negative 90.10 lakhs in FY2025-26.
• PAT: negative 530.22 lakhs in FY2025-26.
• EPS: negative 83.09 rupees per share.
• Cash flow from operations: 283.98 lakhs.
• Capex incurred: 1.58 lakhs funded from internal accruals.
• Dividend per share: Nil; no dividend declared.

Operations and production

• Plant at Bengaluru shut down on 15 December 2025; no restart planned.
• Produced 5,254 MT of grinding media in FY2025-26; prior year 9,539 MT.
• Sold 4,582 MT of grinding media in FY2025-26; prior year 9,650 MT.
• Factory license and power facilities surrendered post-closure.

Capital structure and liquidity

• Liquidity position remained satisfactory; cash and cash equivalents were 77.01 lakhs.
• No borrowings; financed by internal accruals and supplier credit.
• No expansion planned; operations have permanently ceased.

Governance and audit

• Board comprises six directors; two independent; one woman director.
• Statutory auditors: Dagliya & Co.; Internal & Cost Auditors; Secretarial auditors.
• Audit report: no qualifications; emphasis on non-going concern basis.
• Secretarial audit by Tushar M. Vora; certificate attached.

Related party transactions

• Material related party transactions with AIA Engineering Ltd; contract manufacturing.
• Sale of grinding media to AIA Eng Ltd: 1,077.93 lakhs; purchases from AIA Eng Ltd: 80.23 lakhs.
• Salaries to KMP and other payments disclosed.

Contingent liabilities and commitments

• Contingent bank guarantees: 54.41 lakhs; other contingent liabilities 51.95 lakhs.
• Labour disputes pending; amount 502.32 lakhs.
• Capital commitments: nil.

CSR and compliance

• CSR not applicable as threshold profits not earned in year.
• CSR expenses previously 6.13 lakhs in 2024-25; no current year CSR spend.

Risk management and market backdrop

• Risk management framework in place; closure reduces commodity and market exposure.
• Credit risk, liquidity risk, and commodity risk managed; no long-term borrowings.

Meeting Details

• Board meeting scheduled for 5 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve the unaudited financial results for the quarter ended 30 June 2026.

Other Notes

• No additional material items disclosed.

• Dematerialisation requests up to 30 June 2026 were confirmed to depositories.
• Securities dematerialised have been listed on the exchange where the earlier securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled after verification.
• Depository's name substituted as registered owner within 15 days of receipt of certificates.

Meeting Details

• Board meeting scheduled for Wednesday, 20 May 2026.

Key Agenda Items

• Consider and approve audited financial results for quarter/year ended 31 March 2026.
• Recommend dividend, if any, for financial year 2025-26.

Other Notes

• No meeting time or location was disclosed.