Outcome of the Board Meeting held on May 30, 2026

Eraaya Lifespaces Limited reported audited standalone financial results for FY ended March 31, 2026. Total revenue declined significantly to Rs. 104.81 million from Rs. 218.20 million in the previous year, marking a revenue_decline. The company reported a massive net loss of Rs. 2,740.55 million compared to a loss of Rs. 258.65 million in FY25, with EPS at Rs. -14.08. The auditors issued a Qualified Opinion citing: (1) delays in statutory dues deposit with substantial outstanding amounts, (2) investments in CCPS based on projected valuations with unclear realizability, and (3) material related party transactions lacking requisite shareholder approvals. Multiple Emphasis of Matter paragraphs were raised covering the Ebix Inc acquisition and FCCB issues (USD 40 million receivable pending), legal proceedings by bondholders, and non-compliance with FEMA and Section 186 of Companies Act. The going concern assumption was used despite the company incurring losses in both current and previous years. Net worth remains positive at Rs. 2,918.72 million. The company has contingent liabilities of Rs. 163.55 crore towards unrecognized FCCB interest and faces multiple regulatory inquiries including from MCA and SEBI.