Eureka Industries reported a standalone net loss of ₹21.17 lakh for the quarter ended June 30, 2026, reversing a net profit of ₹8.32 lakh recorded in the corresponding period of FY26. The financial decline coincided with a significant contraction in operational activity and the commencement of insolvency resolution proceedings.

Revenue from operations dropped precipitously to ₹4.00 lakh, down from ₹3,751.06 lakh in Q1FY26. This near-total cessation of revenue generation drove the bottom-line loss, despite expenses also falling significantly. Total expenses stood at ₹25.17 lakh, compared to ₹3,742.74 lakh in the prior year quarter.

What the Numbers Show

The divergence between revenue collapse and persistent fixed costs highlights the operational standstill during the quarter. While purchases of stock-in-trade fell to ₹14.25 lakh from ₹3,580.68 lakh YoY, operating and other expenses remained at ₹8.80 lakh, indicating that core overheads continued to accrue despite minimal business activity. Employee benefit expenses also decreased to ₹2.13 lakh from ₹2.97 lakh, reflecting reduced workforce costs or headcount adjustments.

Key Financial Metrics

Insolvency Process Initiated

The financial results were announced alongside major corporate developments regarding the company’s debt resolution. The Board approved the unaudited financial results on August 18, 2026.

Crucially, the company received an order on August 14, 2026, admitting its petition under Section 54C of the Insolvency and Bankruptcy Code, 2016. This order commenced the Pre-Packaged Insolvency Resolution Process (PPIRP) with effect from that date. An Insolvency Professional has been appointed as the Resolution Professional to conduct the process.

Earlier, on May 18, 2026, the company held an Extraordinary General Meeting (EGM) to propose the PPIRP scheme. Shareholders also considered a Base Resolution Plan, which includes the amalgamation of Onix Renewable Limited with and into Eureka Industries, subject to regulatory approvals. The plan proposes a consequential change of name to “Onix Renewable Limited.”

The statutory auditors, V S S B & Associates, issued a limited review report on the results, confirming they have not come across any material misstatement in the unaudited financial statements prepared in accordance with Ind AS 34.

Eureka Industries Limited has approved changing its Registrar and Share Transfer Agent (RTA) from Bigshare Services Private Limited to Accurate Securities and Registry Private Limited to strengthen its investor services function. The company cited the new RTA's market share, expertise, infrastructure, and reputation as reasons for the appointment. The transition follows Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transition Details

Bigshare Services Private Limited will continue to serve as the RTA until the completion of data transition, shifting of electronic connectivity, and other related procedures. The company must also receive necessary confirmations from NSDL and CDSL before the change is fully effective. The formalities, including documentation and execution of agreements, will be completed in due course.

The effective date of the change will be communicated to the stock exchanges after definitive agreements are carried out under applicable statutes. The disclosure references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The filing was submitted by Chaitanya Jayantilal Pandya, Managing Director & Chief Financial Officer of Eureka Industries Ltd .