Eureka Industries Q1FY27 net loss widens to ₹21 lakh as revenue collapses
Eureka Industries posted a Q1FY27 net loss of ₹21.17 lakh, driven by a 99.9% drop in revenue to ₹4 lakh. The company is now under the Pre-Packaged Insolvency Resolution Process (PPIRP), having received admission on August 14, 2026. A proposed resolution plan involves amalgamation with Onix Renewable Limited.
*this image is generated using AI for illustrative purposes only.
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
| Metric: | Q1FY27 (₹ in lacs) | Q1FY26 (₹ in lacs) | Change |
|---|---|---|---|
| Revenue from Operations: | 4.00 | 3,751.06 | -99.9% |
| Total Expenses: | 25.17 | 3,742.74 | -99.3% |
| Net Profit/(Loss): | (21.17) | 8.32 | Turn to Loss |
| EPS (Basic): | (0.24) | 0.10 | Negative |
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.
Historical Stock Returns for Eureka Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.89% | +2.74% | +29.25% | +37.12% | -24.89% | 0.0% |
What is the projected timeline for the approval of the Base Resolution Plan and the subsequent amalgamation of Onix Renewable Limited into Eureka Industries?
How will the transition to the Pre-Packaged Insolvency Resolution Process (PPIRP) impact the voting rights and equity stake of existing shareholders during the resolution period?
What specific operational synergies or revenue streams is Onix Renewable Limited expected to inject into the merged entity to reverse Eureka's current operational standstill?
19
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
