Board Meeting Details

The Board meeting was held through video conferencing/Other Audio-Visual Means on Monday, August 10, 2026. The meeting commenced at 07:24 p.m. and concluded at 07:50 p.m.

Key Decisions Approved

1. Unaudited Financial Results: The Board considered and approved the Unaudited Financial Results of the Company for the Quarter ended June 30, 2026, together with the Limited Review Report issued by the Statutory Auditors, Chaturvedi SK & Fellows LLP.

2. Change in Internal Auditor: Noted the resignation of existing Internal Auditor M/s. R Kabra and Co LLP and approved the appointment of M/s. T P Ostwal Maheshwari & Associates LLP (TPOM), Chartered Accountants (FRN No.: S000279), Hyderabad as the Internal Auditor of the Company for the Financial Year 2026-27.

3. Annual Report and AGM: Approved the Annual Report, including the Board's Report, for the Financial Year 2025-26. Approved the Notice convening the Annual General Meeting (AGM) for FY 2025-26 and authorized the Company Secretary/Managing Director to issue the same to members.

Financial Results Highlights (Standalone, Rs. in Lakh)

Quarter Ended June 30, 2026 (Unaudited):

  • Revenue from operations: ₹1,120.48
  • Other income: ₹1.88
  • Total Income: ₹1,122.36
  • Total Expenses: ₹1,487.02
  • Loss before tax: ₹(364.66)
  • Tax expense: ₹0.00
  • Loss for the period: ₹(364.66)
  • Other Comprehensive Income: ₹0.00
  • Total Comprehensive Income: ₹(364.66)
  • Basic EPS: ₹(1.38)
  • Diluted EPS: ₹(1.20)

Comparative Figures:

  • Quarter Ended March 31, 2026 (Unaudited): Loss of ₹(298.70)
  • Quarter Ended June 30, 2025 (Unaudited): Loss of ₹(336.29)
  • Year Ended March 31, 2026 (Audited): Loss of ₹(1,008.38)

Segment-wise Performance (Rs. in Lakh)

Revenue Breakdown for Q1 FY27:

  • Eco Build (Particle Board): ₹999.02
  • Eco Energy (Bio System): ₹161.46
  • Total: ₹1,120.48

Segment Results (Profit before interest and tax):

  • Eco Build (Particle Board): ₹(364.76)
  • Eco Energy (Bio System): ₹26.22
  • Others-exceptional items: ₹0.00
  • Total: ₹(338.54)

Internal Auditor Changes

Resignation:

  • M/s. R Kabra & Co LLP Chartered Accountants (FRN: 104502W/W100721) resigned as Internal Auditor effective July 29, 2026.
  • Reason for resignation: Preoccupation with other professional commitments as specified in the Resignation Letter dated July 29, 2026.

Appointment:

  • M/s. T P Ostwal Maheshwari & Associates LLP appointed as Internal Auditor on August 10, 2026 for FY 2026-27.
  • Firm Profile: Professional advisory, audit, and assurance firm operating since 1978 with over 50 years of standing practice. Services include Assurance, Internal Financial Controls (IFC), Risk Management, and Tax Advisory across manufacturing, infrastructure, e-commerce, pharma, and engineering industries. Practice led by Mr. T P Ostwal (FCA, Founding Partner) and Mr. Jaigovind Boob (FCA, CS, CFE, Audit & Risk Partner).

Contingent Liabilities - Tax Demands

The Limited Review Report draws attention to significant tax demands under appeal:

1. Excise Duty Demand:

  • CESTAT confirmed excise duty demands aggregating ₹1,114.64 lakh (subject to Input Tax Credit) for years 2008-09 to 2017-18, excluding interest and penalties.
  • Company's application for rectification dismissed by CESTAT.
  • Appeal admitted by Supreme Court of India for hearing.

2. Income Tax Demands:

  • AY 2017-18 and AY 2018-19: Demand of ₹510.44 lakh. Appeal filed before Income Tax Appellate Tribunal (ITAT).
  • AY 2023-24: Demand of ₹179.45 lakh. Appeal filed before CIT(A).

Total Contingent Liability: ₹1,804.53 lakh (excluding interest and penalties)

No provision made in books pending outcome of appeal proceedings.

Additional Notes

  • The company has unabsorbed depreciation and accumulated taxable business losses, resulting in no income-tax liability for reporting periods.
  • Figures for quarter ended March 31, 2026 are balancing figures between audited annual figures and reviewed year-to-date figures.
  • The disclosure is being uploaded on the company website www.ecoyou.in.