eureka industries is exempt from disclosing related party transactions for the half year ended March 31, 2026, as its financial metrics remain below the thresholds set by the market regulator. The company confirmed that its paid-up share capital is less than ₹10 crore and its net worth is less than ₹25 crore as on the specified date. Consequently, the requirements under Regulation 23(9) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, are not applicable to the entity.

The disclosure was submitted to the Bombay Stock Exchange, referencing the company's script code 521137. The regulation mandates that listed entities submit and publish disclosures of related party transactions in a format specified by the Board. However, read with Regulation 15(2) of the same regulations, this obligation is waived for companies meeting the specific size criteria regarding share capital and net worth.

Financial Thresholds

The exemption is based on the company's financial position as on March 31, 2026. The following criteria determine the applicability of the disclosure requirements:

Chaitanya Jayantilal Pandya, Managing Director & Chief Financial Officer of Eureka Industries Limited, signed the communication submitted to the exchange on May 30, 2026. The company has requested the exchange to place the information on its records.

Eureka Industries Limited reported a 91% year-on-year decline in net profit to ₹19.53 lakh for the financial year ended March 31, 2026, despite a 48% increase in total revenue. The board approved the audited standalone financial results for the quarter and year ended March 31, 2026, during a meeting held on May 28, 2026. The company’s statutory auditor, M/s. VSSB & Associates, issued an unmodified opinion on the results.

Total revenue for FY26 rose to ₹12,657.54 lakh from ₹8,534.70 lakh in the previous year. However, total expenses increased to ₹12,636.68 lakh, narrowing the profit margin. For the quarter ended March 31, 2026, the company reported a net loss of ₹49.20 lakh, compared to a profit of ₹47.89 lakh in the corresponding quarter of the previous year. The board attributed the absence of current tax provisions to the set-off of brought forward business losses and unabsorbed depreciation from prior years.

Auditor Observations and Write-offs

The auditor noted that the management wrote off closing inventory amounting to ₹189.48 lakh due to expiry, deterioration, and obsolescence. Additionally, the board wrote off long-outstanding liability balances of ₹287.74 lakh and asset balances of ₹152.56 lakh. The audit report also highlighted that an undisclosed Punjab National Bank account was identified during the audit, containing a balance of ₹1.85 lakh, which could not be verified.

Corporate Governance and Insolvency Proposal

The board approved the re-appointment of Mr. Raghav Thakkar, Proprietor of M/s. R. R. Thakkar & Co., as Internal Auditor for FY27. The company also disclosed that an Extraordinary General Meeting held on May 18, 2026, proposed a Pre-Packaged Insolvency Resolution Process (PPIRP) under Section 54A of the Insolvency and Bankruptcy Code, 2016. This includes a base resolution plan for the amalgamation of Onix Renewable Limited with Eureka Industries, subject to approval by the NCLT, Ahmedabad Bench.

Financial Summary