Coastal Corporation Extends Rally After ₹362 Crore Ethanol Order; Stock Up 5% in Early Trade

Visakhapatnam, Friday, October 24 – The shares of Coastal Corporation Limited (NSE: COASTCORP; BSE: 501831) continued their steep advance for the second consecutive day on Friday, rising over 5% to ₹47.10 at 9:17 AM IST, after surging nearly 20% on Thursday because of its win of a ₹362 crore contract for ethanol supply in the Ethanol Blended Petrol Programme (EBPP).

Details of Ethanol Supply Contracts

Coastal Biotech Private Limited, a government-notified exporter and a subsidiary of Coastal Corporation, has been allocated a total of approximately 56,521 kiloliters of ethanol for the year. The contract authorises the company to supply approximately 45,441 kiloliters to key oil marketers BPCL, IOCL, HPCL, and MRPL, and to supply approximately 11,080 kiloliters to Reliance Jio BP.

The value of orders under all existing domestic contracts is estimated at around ₹361.73 crore, excluding GST. Upon execution, the contracts will be supplied to multiple locations across India during FY2025–26, further strengthening its foothold in this segment.

Strategic Biofuels Expansion

Coastal Corporation Limited is publicly traded on both the NSE and BSE stock exchanges and is also expanding into the biofuels space through Coastal Biotech Private Limited to support India’s clean energy and sustainability initiatives.

Market Reaction

The shares of Coastal Corporation Limited were trading at ₹43.46, down 2.99%, at 11:40 AM IST on the NSE.

Coastal Corporation Ltd’s shares were priced at ₹47.50 at the start of trading and fluctuated within the range of ₹42.50 to ₹48.37 during the trading day. The company has a market cap of around ₹293.34 crore.

The shares have a current price-to-earnings (P/E) ratio of 40.42, and a dividend yield of 0.51% with a quarterly dividend of ₹0.06/share. Over the last year, Coastal Corporation Ltd’s shares have traded between a 52-week high of ₹56.59 and a 52-week low of ₹30.01.

Coastal Corporation Limited is a government-recognised Three-Star Export House engaged primarily in seafood export based in Visakhapatnam. The company is publicly listed on both the NSE and the BSE. It is expanding into biofuel production through its subsidiary, Coastal Biotech Private Limited, in part to support India’s sustainable energy goals.

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