Blue Coast Hotels Limited has informed the stock exchanges that its Board of Directors, at their meeting held on Wednesday, May 13, 2026, considered and approved the allotment of 24,87,100 equity shares of face value Rs. 10/- each, pursuant to the conversion of 2,48,710 units of 0.01% Compulsorily Convertible Preference Shares (CCPS) of face value Rs. 100/- each, at a conversion price of Rs. 10/- per share, by way of preferential allotment on a private placement basis to persons in the Promoter and Promoter Group category. The board meeting commenced at 12:30 P.M. and concluded at 1:30 P.M. The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Allottee-wise Breakdown

The allotment was made to 11 entities belonging to the Promoter and Promoter Group, with each allottee receiving equity shares upon conversion of their respective CCPS holdings. The complete allottee-wise details are presented below:

Impact on Share Capital

Consequent to the allotment, the paid-up equity share capital of the Company has increased. The key capital structure details post-allotment are as follows:

The paid-up equity share capital now stands at Rs. 19,67,95,570 (Rupees Nineteen Crore Sixty-Seven Lakh Ninety-Five Thousand Five Hundred and Seventy Only), comprising 1,96,79,557 equity shares of face value Rs. 10/- each.

Appointment of Internal Auditor for FY2026-27

In addition to the share allotment, the Board also approved the re-appointment of the internal auditor for the financial year 2026-27. The details of the re-appointment, disclosed pursuant to SEBI Listing Regulations read with SEBI Circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are as follows:

M/s Sidharth K Agarwal & Co. (Firm Registration No. 036798C) is a practicing Chartered Accountant firm, with Mr. Sidharth K Agarwal (Membership No. 467563) as the sole proprietor, re-appointed to conduct the internal audit of the Company for the financial year 2026-27.

Regulatory Compliance

The outcome of the board meeting was submitted to both the National Stock Exchange of India Limited and BSE Limited on May 13, 2026. The intimation was signed by Kapila Kandel, Company Secretary and Compliance Officer (Membership No. A-52540), on behalf of Blue Coast Hotels Limited, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Blue Coast Hotels Limited announced its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, following a board meeting held on Tuesday, May 5, 2026. The meeting, which commenced at 10:30 A.M. and concluded at 01:40 P.M., approved both sets of financial results. Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company subsequently published the audited financial results in the Financial Express (English) and Dainik Herald (Marathi) on May 6, 2026. The statutory auditors, M/s. Virender K Jain & Associates (FRN: 005994N), issued audit reports with an unmodified opinion for both standalone and consolidated results, while highlighting significant uncertainties regarding the company's ability to continue as a going concern. The financial results are also available on the websites of NSE and BSE, as well as on the company's website at https://www.bluecoast.in/financial-results .

Standalone Financial Performance

For the financial year ended March 31, 2026, Blue Coast Hotels reported standalone total income of Rs. 243.48 lakhs, compared to Rs. 45.06 lakhs in the previous year, driven by income from operations of Rs. 203.82 lakhs. Total expenses stood at Rs. 369.23 lakhs, resulting in a net loss of Rs. 208.07 lakhs for the year, against a net profit of Rs. 8,000.84 lakhs in the prior year — which had benefited from an exceptional preference dividend waiver of Rs. 8,453.55 lakhs. The total equity deficit on a standalone basis stood at Rs. 1,894.32 lakhs as of March 31, 2026.

Consolidated Financial Performance

On a consolidated basis — covering Blue Coast Hotels Limited (Parent), Blue Coast Hospitality Limited (Subsidiary), and Golden Joy Hotels Private Limited (Subsidiary) — total income for the year ended March 31, 2026 was Rs. 243.48 lakhs, against Rs. 45.06 lakhs in the prior year. Consolidated total expenses were Rs. 370.47 lakhs, and the consolidated net loss for the period stood at Rs. 209.31 lakhs, compared to a net profit of Rs. 7,999.60 lakhs in the previous year. The consolidated total equity deficit widened to Rs. 2,165.87 lakhs as of March 31, 2026, from Rs. 1,931.35 lakhs a year earlier.

Auditor's Observations

The auditors drew attention to Note No. 10 in both the standalone and consolidated financial statements, citing material uncertainty related to going concern. This arises from regular operating losses and accumulated losses exceeding the company's net worth. The management has nonetheless prepared the financial statements on a going concern basis, relying on expected financial support from its wholly-owned subsidiary, M/s Blue Coast Hospitality Limited, and future business plans. Additionally, the auditors emphasized a default on redeemable preference shares: due to the absence of profit, the company is in default regarding the payment of dividend amounting to Rs. 485.27 lakhs and the redemption of 0.01% Redeemable Preference Shares totalling Rs. 551.89 lakhs due on March 31, 2026.

SEBI Settlement and Legal Proceedings

Pursuant to a SEBI investigation, the company and its officials were issued a Show Cause Notice dated March 4, 2025, alleging violations of SEBI LODR Regulations and applicable Indian Accounting Standards. Without admitting or denying the findings, the company and its Whole-Time Director filed a settlement application, which was accepted in principle. The company paid Rs. 78.00 lakhs and the Whole-Time Director paid Rs. 11.37 lakhs, and the settlement was approved by SEBI vide Settlement Order dated January 14, 2026. These settlement charges of Rs. 53.00 lakhs (for the year) are reflected as exceptional items in the financial results.

Separately, the company has filed an Objection Petition before the Recovery Officer acting on behalf of the Justice R.M. Lodha (Retd.) Committee in the matter of PACL Ltd., asserting its claim over balance auction proceeds of Rs. 8,500.00 lakhs from the total auction proceeds of Rs. 51,544.00 lakhs from the sale of 'Hotel Park Hyatt Goa Resort & Spa'. The Recovery Officer vide Order dated November 10, 2025 held the company liable to pay Rs. 26,604.00 lakhs to PACL Ltd. and directed IFCI to remit Rs. 8,500.00 lakhs to the Committee. Aggrieved, the company appealed before the Securities Appellate Tribunal (SAT), which vide its order dated March 13, 2026 directed that auction proceeds shall continue to remain with IFCI and granted a stay on recovery proceedings. The matter remains pending adjudication.

Operational Context and Corporate Updates

Blue Coast Hotels continues to face challenges following the handover of its sole operating asset, 'Park Hyatt Goa Resort & Spa', in the financial year ended March 31, 2019, in compliance with directions of the Hon'ble Supreme Court of India. The company has filed a Redemption Petition before the Hon'ble High Court of Bombay at Goa, which is currently pending adjudication. During the year, 2,55,200 Compulsorily Convertible Preference Shares (CCPS) of ₹100 each were converted into 25,52,000 equity shares of ₹10 each on May 16, 2025, with the remaining 2,48,710 CCPS of ₹100 each to be converted into 24,87,100 equity shares of ₹10 each within the prescribed time.

Special Window for Share Dematerialisation

Pursuant to SEBI circular no. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026, a special window for transfer and dematerialisation of physical shares has been made available up to February 4, 2027. This window is available to shareholders who had purchased physical shares of the company prior to April 1, 2019 and had not lodged the shares for transfer, or had lodged the same but the transfer was rejected, returned, or left unprocessed due to deficiencies in documentation. Requests must be accompanied by original share certificate(s) along with transfer deed(s) and other supporting documents. Shares transferred during this window will be processed exclusively in dematerialised form and shall be under lock-in for a period of one year from the date of registration of such transfer or processing in the demat account. Eligible shareholders are requested to contact the company's Registrar and Share Transfer Agent, RCMC Share Registry Pvt. Ltd., B-25/1, First Floor, Okhla Industrial Area, Phase – 2, New Delhi – 110 020 within the stipulated period.

Source: None/Company/INE472B01011/864d60ac-dde8-427f-bcab-e522b62c1dfb.pdf