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Dossier · ECOBOARD INDUSTRIES LTD. · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
ECOBOARD INDUSTRIES LTD.
BSE: 523732
BSE: 523732
Consumer Discretionary › Consumer Durables › Consumer Durables › Plywood Boards/ Laminates
ECOBOARD INDUSTRIES LTD.
StateQ4 FY26 filed
Last close · 28 Oct 2026₹62.50
Market cap₹0.2k cr
TTM P/E · P/B · EV/EBITDA— · 7.32 · —
ECOBOARD INDUSTRIES LTD. is a Consumer Durables company. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 35 | 39 | 30 | 13 | 24 |
| EBITDA (ex other income) | 4 | (1) | (6) | (18) | (9) |
| margin % | 12.1 | (3.9) | (18.5) | (138.6) | (36.0) |
| Owners' profit | 2 | (3) | (7) | (18) | (10) |
| EPS, as reported (₹) | 1.14 | (1.84) | (4.07) | (10.25) | (3.89) |
| ROE % · ROCE % | 12.5 · 10.9 | (15.4) · (1.9) | (55.1) · (24.4) | 361.9 · (223.3) | (44.7) · (42.2) |
| Debt / equity (x) | 1.42 | 1.22 | 1.16 | (4.43) | 0.34 |
| Cash from operations | (6) | 3 | 0 | (1) | (18) |
| Capex | (1) | (1) | (0) | (5) | (4) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ECOBOARD INDUSTRIES LTD. · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 3 | 2 | 2 | 2 | 5 | 9 | 8 |
| Profit before tax | (1) | (3) | (8) | (6) | (3) | (3) | (1) | (3) |
| Net profit | (1) | (3) | (8) | (6) | (3) | (3) | (1) | (3) |
| EPS (₹) | (0.66) | (1.51) | (4.63) | (3.45) | (2.44) | (1.05) | (0.34) | 0.30 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Eco Build (Particle Board) | 15 | 62.7 |
| Eco Energy (Bio System) | 5 | 22.0 |
| Eco Energy (Biosystem) | 2 | 8.8 |
| Eco Build (Particle Board) | 0 | 1.8 |
| Eco Energy (Bio system) | 1 | 4.7 |
| Total, before eliminations | 24 | 100.0 |
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CENTURY PLYBOARDS (I) LTD | 14,363 | 49.3 | 5.46 | 24.4 | 10.2 | 11.0 | 20.4 | 12.8 |
| GREENLAM INDUSTRIES LTD. | 5,459 | 58.6 | 4.63 | 19.7 | 4.8 | 4.5 | 20.5 | 10.8 |
| STYLAM INDUSTRIES LIMITED | 4,867 | 28.7 | 6.03 | 21.2 | 18.6 | 24.6 | 18.9 | 21.5 |
| GREENPLY INDUSTRIES LTD | 3,698 | 37.4 | 4.13 | 15.2 | 10.0 | 12.0 | 18.6 | 11.1 |
| GREENPANEL INDUSTRIES LTD | 1,613 | 11.3 | 1.22 | 6.9 | 10.8 | 10.9 | — | 14.8 |
| RUSHIL DECOR LIMITED | 442 | 19.1 | 0.68 | 9.3 | 1.0 | 1.2 | — | 8.4 |
| ARCHIDPLY IND. LTD | 185 | 14.2 | 1.65 | 8.6 | 7.1 | 6.2 | — | 7.5 |
| ECOBOARD INDUSTRIES LTD. ◆ | 165 | — | 7.32 | — | (44.7) | (43.3) | — | (31.2) |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 7.3 | 3.0 | 13 of 13 | 0% |
| ROCE | (43.3) | 4.5 | 12 of 13 | 8% |
| ROE | (44.7) | 4.8 | 12 of 13 | 8% |
| Debt / Equity | 0.3 | 0.4 | 5 of 13 | 67% |
| EBITDA margin | (31.2) | 7.5 | 12 of 13 | 8% |
| Revenue growth | 334.6 | 18.2 | 1 of 13 | 100% |
| Profit growth | 51.5 | 32.2 | 6 of 13 | 58% |
| Market cap | 165 | 185 | 8 of 13 | 42% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ECOBOARD INDUSTRIES LTD. · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · CEO resigns, new CEO named; Eco Build production suspended for one year | management changes | high | — | — |
| 28 Oct 2026 · New CEO appointed; Eco Build production suspended for one year | management changes | critical | — | — |
| 28 Oct 2026 · CEO change and one-year production suspension of division with 64.14% of turnover | management changes | critical | — | — |
| 13 Oct 2026 · Routine RTA filing confirms share dematerialisation for Sept quarter | compliance | minimal | — | — |
| 8 Oct 2026 · Ecoboard Industries allots 59.41 lakh shares on warrant conversion | fund raising | medium | — | — |
| 8 Oct 2026 · Allotment of 59.41 lakh shares on warrant conversion to non-promoters | fund raising | medium | — | — |
| 8 Oct 2026 · 59.4 lakh warrants converted into equity shares | fund raising | medium | — | — |
| 30 Sept 2026 · Ecoboard Industries AGM: all 3 resolutions passed including related party deal | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · Ecoboard Industries AGM concludes; 3 resolutions passed including RPT approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading Window Closure for Q2 FY27 Results Period | compliance | minimal | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in