Appointment of Internal Auditor for the Financial Year 2026-27
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Eureka Industries Ltd held a Board meeting on 28th May 2026, approving two key items: (1) Standalone Audited Financial Statements for FY 2025-26 showing Total Revenue of Rs. 12,657.54 Lakhs and Net Profit of Rs. 19.53 Lakhs (down from Rs. 214.27 Lakhs in previous year), with EPS of Rs. 0.22; and (2) Re-appointment of Mr. Raghav Thakkar of M/s R.R. Thakkar & Co. as Internal Auditor for FY 2026-27. The company undertook significant write-offs including inventory (Rs. 189.48 Lakhs), assets (Rs. 152.56 Lakhs), and liabilities (Rs. 287.74 Lakhs). Balance sheet shows negative equity of Rs. 127.30 Lakhs. The company is pursuing a Pre-Packaged Insolvency Resolution Process (PPIRP) under IBC 2016 and a proposed amalgamation with Onix Renewable Limited, with a name change to 'ONIX RENEWABLE LIMITED'.
The appointment of an internal auditor is routine and neutral for shareholders. However, the negative equity position, declining profits, and active insolvency proceedings signal serious financial distress that could significantly impact shareholder value.