Welcast steels Limited has submitted its quarterly compliance certificate to the BSE Limited, fulfilling regulatory requirements under SEBI's depository regulations. The submission, dated April 7, 2026, covers the quarter ended March 31, 2026, and demonstrates the company's commitment to maintaining proper regulatory compliance.

Regulatory Compliance Details

The certificate was submitted under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation mandates that companies provide quarterly confirmations regarding the proper handling of securities dematerialization processes through their registered transfer agents.

Registrar Confirmation

Bigshare Services Private Limited, serving as the company's Registrar and Share Transfer Agent, issued the confirmation certificate on April 6, 2026. The registrar confirmed that all securities received from depository participants for dematerialization up to March 31, 2026 were properly processed and confirmed to the depositories.

The certificate validates several key compliance aspects:

• Securities received for dematerialization were confirmed within regulatory timelines
• All security certificates were properly mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners within the mandated 15-day period
• Securities remain listed on the stock exchange where previously issued securities are traded

Corporate Governance

The submission was signed by Paresh M. Shukla, Company Secretary of Welcast Steels Limited, while Vikas Singh served as the authorized signatory for Bigshare Services Private Limited. This quarterly filing represents part of the company's ongoing commitment to maintaining transparency and regulatory compliance in its securities operations.

The certificate submission ensures that all dematerialization processes during Q4FY26 were conducted in accordance with SEBI guidelines, protecting investor interests and maintaining market integrity.

Welcast steels Limited has reported substantial losses for the third quarter of FY26, marking a challenging period following its decision to permanently shut down operations at its primary manufacturing facility.

Financial Performance Overview

The company's Q3 FY26 results reveal significant deterioration in financial performance across key metrics:

The company recorded a net loss of ₹315.73 lakhs for Q3 FY26, compared to a profit of ₹11.29 lakhs in the corresponding quarter of the previous year. Revenue from operations plummeted to ₹256.60 lakhs from ₹2,307.68 lakhs in Q3 FY24, representing a decline of nearly 89%.

Nine-Month Performance

For the nine months ended December 31, 2025, Welcast Steels reported comprehensive losses:

Factory Closure and Exceptional Items

The company's Board of Directors decided on October 15, 2025, to permanently close its industrial establishment located at Plot No. 15, Phase 1, Peenya Industrial Area, Bangalore, with effect from December 15, 2025. This closure has resulted in exceptional expenses of ₹28.95 lakhs for Q3 FY26 and ₹328.19 lakhs for the nine-month period.

The closure has necessitated significant adjustments in the company's financial reporting approach. The financial statements for the current period have not been prepared on a going concern basis, and the company has recognized closure compensation and other related expenses under the Industrial Relations Code 2020.

Impact on Financial Reporting

Due to the factory closure, several accounting adjustments have been implemented:

• Non-financial assets are measured at the lower of carrying value and fair value less costs to sell
• Employee benefit expenses include ₹46.37 lakhs for retained critical employees who are expected to be terminated
• Financial assets and liabilities continue to be recognized at fair value or amortized cost
• No deferred tax adjustments have been carried out for the nine-month period

Business Operations

Welcast Steels manufactures alloy steel cast grinding media and operates solely in India. The company has a single reportable segment, and sales to one major customer accounted for ₹1,631.78 lakhs during the period. AIA Engineering Limited holds 74.85% of the company's share capital with 4,77,661 equity shares.

The Board of Directors is currently evaluating the future course of the company's activities following the permanent closure of its manufacturing operations.