Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Eureka Industries Ltd reported standalone audited financials for FY 2025-26 with revenue of Rs. 12,657.54 Lacs (up 48% from Rs. 8,534.70 Lacs), but profit after tax dropped 91% to Rs. 19.53 Lacs from Rs. 214.27 Lacs. EPS fell to Rs. 0.22 from Rs. 2.45. The company wrote off Rs. 189.48 Lacs of unusable inventory, Rs. 287.74 Lacs of outstanding liabilities, and Rs. 152.56 Lacs of assets. The company has negative shareholders' equity of Rs. 127.30 Lacs. The board re-appointed Mr. Raghav Thakkar as Internal Auditor for FY 2026-27. An EGM held on May 18, 2026 proposed a Pre-Packaged Insolvency Resolution Process (PPIRP) and amalgamation with Onix Renewable Limited, with a proposed name change to 'ONIX RENEWABLE LIMITED'.
The company faces serious financial distress with negative equity and declining profitability. The proposed PPIRP under IBC and merger with Onix Renewable indicates major restructuring ahead. Investors should be cautious as the stock is in a distressed situation with significant uncertainty around the insolvency process and proposed amalgamation.