Company Overview and AGM Details
Coastal Corporation Limited, a Government of India recognized Three Star Export House engaged in seafood processing and export, will hold its 45th Annual General Meeting on August 27, 2026, through video conferencing. The AGM agenda includes adoption of FY26 financial statements, declaration of 14% dividend (₹0.28 per share), reappointment of independent directors, and approval of related party transactions for FY26-27. The record date for dividend is set for August 20, 2026.
Financial Performance Highlights
Coastal Corporation delivered exceptional financial results for FY26, with consolidated revenue surging 56% YoY to ₹99,528.76 lakhs and net profit skyrocketing 267% to ₹2,665.69 lakhs. Standalone performance showed revenue of ₹70,706.05 lakhs and profit of ₹1,350.24 lakhs. The company's strong performance was driven by expansion in shrimp processing operations and the commencement of ethanol sales from its new project.
Operational and Capital Expenditure Developments
The company capitalized a new grain-based ethanol project during the year, significantly expanding its property, plant and equipment with additions of ₹15,747.82 lakhs. This project represented a major diversification into biofuels and was identified as a Key Audit Matter due to the significant judgment involved in determining the stage of completion and cost allocation.
Subsidiaries Performance
The company's three wholly-owned subsidiaries showed mixed results: Continental Fisheries India Limited reported revenue of ₹23.71 lakhs with a minor loss, Seacrest Seafoods Inc. turned profitable with ₹0.05 lakhs net profit on revenue of ₹90.59 lakhs, and Coastal Biotech Private Limited delivered strong performance in its first full year with revenue of ₹244.73 lakhs and profit of ₹13.79 lakhs.
Audit and Regulatory Matters
Statutory auditors Brahmayya & Co. issued a qualified opinion regarding non-provision of impairment loss allowance on investment in Seacrest Seafoods Inc. amounting to ₹3009.86 lakhs, though management believes no impairment is necessary due to expected tariff refunds. The company paid a minor fine of ₹11,800 for delay in prior intimation of board meeting under SEBI LODR regulations but otherwise maintained full regulatory compliance.
Capital Structure and Corporate Actions
The company maintains an authorized capital of ₹25 crore divided into 12.5 crore equity shares of ₹2 each, with paid-up capital of ₹13.39 crore. The board recommended a 14% dividend for FY26, continuing its shareholder returns policy. The company also completed a share split during the year, sub-dividing each ₹10 share into five ₹2 shares.
Risk Management and Outlook
The company faces exposure to foreign exchange risk, commodity price fluctuations, and interest rate variability, which it manages through hedging strategies and financial controls. With the ethanol project now operational and shrimp processing expanding, Coastal Corporation is positioned for continued growth while maintaining focus on capital management and shareholder value creation.