Ecoboard industries Limited has announced its unaudited standalone financial results for the quarter and nine months ended December 31, 2025, accompanied by an independent auditor's review report from Chaturvedi SK & Fellows LLP, showing mixed performance with reduced losses despite ongoing operational challenges.

Financial Performance Overview

The company reported a net loss of ₹78.01 lakh for Q3FY26, representing a significant improvement from the ₹825.55 lakh loss recorded in the corresponding quarter of the previous year. Revenue from operations demonstrated substantial growth, reaching ₹947.39 lakh compared to ₹187.01 lakh in Q3FY25.

Auditor's Review and Compliance

Chaturvedi SK & Fellows LLP conducted the review in accordance with Standard on Review Engagements (SRE) 2410. The auditors confirmed that the financial results comply with Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013, and SEBI Listing Regulations. The review report was issued on February 14, 2026, with the Board of Directors approving the results on the same date.

Segment-wise Performance

The company operates through two primary segments: Eco Build (Particle Board) and Eco Energy (Bio System). The Eco Build segment generated revenue of ₹608.45 lakh in Q3FY26, while the Eco Energy segment contributed ₹338.94 lakh.

Capital Raising Activities

The company successfully raised capital through preferential allotment of equity shares and convertible warrants during the period. Key highlights include allotment of 51,33,323 equity shares at ₹30 per share, raising ₹1,539.99 lakh, and issuance of 59,498,000 convertible warrants, receiving ₹470.10 lakh as application money. Post-period, the company allotted 34,41,417 equity shares at ₹33.50 per share on January 10, 2026.

Legal and Tax Matters

The auditors drew specific attention to substantial tax demands from various government authorities totaling ₹1,804.53 lakh across multiple cases. These include Custom, Excise & Service Tax demands of ₹1,114.64 lakh for assessment years 2008-09 to 2017-18, with the Supreme Court admitting the company's appeal for hearing. Income tax demands include ₹510.44 lakh for AY 2017-18 and 2018-19, and ₹179.45 lakh for AY 2023-24. The company has not made provisions for these liabilities pending appeal outcomes.

Operational Developments and Asset Monetization

The company achieved a significant operational milestone by successfully installing an 8'x4' production line at its Velapur plant, with commercial production commencing from August 1, 2025. The company continues its asset monetization strategy, having sold 27.97 acres of excess land at Velapur up to December 31, 2025, with additional land sales in progress and ₹286.40 lakh received as advances from interested parties.

Ecoboard Industries Limited has issued a corrigendum to its Extra Ordinary General Meeting (EGM) notice, adding a significant agenda item for shareholder consideration. The corrigendum, dated February 2, 2026, introduces a third item of business to the EGM scheduled for February 12, 2026, at 11:00 A.M. through video conferencing.

Inter-Corporate Deposit Ratification

The primary purpose of this corrigendum is to seek shareholder ratification for an inter-corporate deposit already availed by the company. Ecoboard Industries requires approval for an ICD of ₹2,00,00,000 from Anvita Avani Kreations Private Limited, which was executed through an agreement dated October 23, 2025.

Regulatory Compliance Requirements

The Board of Directors approved this ICD at their meeting held on January 19, 2026. However, shareholder approval through a special resolution has become necessary due to statutory compliance requirements under Section 186(2) of the Companies Act, 2013. The company states that the aggregate of loans, guarantees, securities, and investments already made, together with this ICD, exceeds the prescribed limits under the Act.

Under Section 186(2), companies are permitted to give loans, provide guarantees, securities, and make investments up to 60% of paid-up share capital, free reserves, and securities premium account, or 100% of free reserves and securities premium account, whichever is higher, without prior member approval.

Transaction Details and Compliance

The company has clarified that this ICD transaction is conducted in the ordinary course of business and on an arm's length basis. Importantly, it does not fall under the definition of Related Party Transaction as per the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The management has confirmed that none of the Directors, Key Managerial Personnel, or their relatives have any financial or other interest in this resolution. The funds from this deposit are being utilized for working capital requirements and general corporate purposes of the company.

Meeting Accessibility and Documentation

The EGM will be conducted through Video Conferencing and Other Audio Visual Means, maintaining compliance with current regulatory guidelines. All relevant documents, including the original EGM notice and this corrigendum, are available on multiple platforms for shareholder access.

Shareholders can access the documents through the company's website at ecoyou.in, BSE Limited's website at www.bseindia.com , and the National Securities Depository Limited's e-voting platform at www.evoting.nsdl.com . The corrigendum forms an integral part of the EGM notice and must be read in conjunction with the original notice dated January 19, 2026.