Coastal Corporation Approves Final Dividend and Greenlights INR 350 Crore Ethanol Plant Project

Coastal Corporation Approves Final Dividend and Greenlights INR 350 Crore Ethanol Plant Project​

Coastal Corporation Limited announced key outcomes from its Board of Directors meeting held on May 30, 2026. The Board approved the audited Standalone and Consolidated Financial Results for the fourth quarter and the financial year ended March 31, 2026. Furthermore, the company approved a significant proposal to set up a 300 KLPD Ethanol Manufacturing Plant in its subsidiary, Coastal Biotech Private Limited, with an estimated project cost of INR 350 Crores.

In a measure for its shareholders, the Board recommended a Final Dividend of Rs. 0.28/- (14%) per equity share of Rs. 2/- each for the financial year 2025-2026.

Key Governance and Operational Updates​

The Board also addressed significant changes in the company's directorship structure:

• Reappointment: The Board approved the re-appointment of Dr. E. Sankara Rao as a Non-Executive Independent Director.
• New Appointments: Two new appointments were approved: Mr. N. S. Narayan Rao as an Additional Director (Non-Executive Independent Director), and Ms. Vineesha Valsaraj as an Additional Director (Non-Executive Non-Independent Director).

The strategic focus of the company was highlighted by the approval of the ethanol manufacturing plant. The board approved the proposal for establishing a 300 KLPD (Kilo Litres Per Day) Ethanol Manufacturing Plant in Kalahandi District, Odisha. This project will be set up through the company's wholly-owned subsidiary, M/s. Coastal Biotech Private Limited, and carries an estimated project cost of approximately INR 350 Crores.

Financial Performance for FY 2025-2026​

The audited financial results for the year ended March 31, 2026, showed robust revenue growth for the group.

Consolidated Financial Results Summary (Rs in Lakhs)​

The standalone results also demonstrated significant performance, with Total Revenue reaching 70,706.05 Rupees in Lakhs for the year ended March 31, 2026, and a Net Profit of 1,800.11 Rupees in Lakhs over the same period.

Balance Sheet Highlights​

The consolidated balance sheet as of March 31, 2026, showed total assets of 84,096.57 Rupees in Lakhs, compared to 75,043.81 Rupees in Lakhs on the previous year.

The statement of assets and liabilities for the year ended March 31, 2026, showed the following key figures (Rupees in Lakhs):

Audit Qualification Noted​

The annual standalone financial results for the year ended March 31, 2026, received a Qualified Opinion from the auditors. The qualification relates to the non-provision of an impairment loss allowance on the investment made in M/s Seacrest Seafoods Inc., a wholly owned foreign subsidiary company. The investment amounts to Rs 3009.86 lakhs as of March 31, 2026.

The Board of Directors provided the opinion that the investment does not suffer any impairment loss. This assessment is based on the expectation of a substantial refund from the US government of reciprocal tariff, following an instruction by the Supreme Court of the US to strike off the tariff paid. The management believes this expected recovery will substantially improve the profitability and financial position of the subsidiary.

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[Data Tables included in the source text for reference on financial performance are omitted here for conciseness, but the key metrics above summarize the audited financial reporting.]

COASTCORP Stock Price Movement​

Coastal Corporation Limited shares slipped by 0.33% on Friday, settling at ₹60.25 for the session. The stock traded on a volume of 179,062 shares, navigating a range between ₹59 and ₹62.23.