Ecoboard Industries Ltd

Ecoboard Industries Ltd (ECOBOAR) is a micro-cap Consumer Goods company valued at ₹167 crore operating in Plywood Boards & Laminates on the NSE and BSE.

What changed?

Ecoboard Industries Ltd last traded at ₹61.85, down 2.14% on the day.

Recent developments

2026-09-07: The DocStoX score increased to 3.4, but the verdict remained 'avoid' due to continued weakness in balance-sheet safety. 2026-07-16: The score was 1.1, indicating significant concerns about the company's financial health. 2026-06-30: Promoter holding decreased by 12.3% over the last three years, raising questions about long-term commitment.

Is the business improving?

The company's business is deteriorating, with annual revenue falling 7.2% over three years and annual net profit turning into a loss. The latest quarter saw revenue surge 582.9% compared to the same quarter a year earlier, but net profit loss widened from ₹3 crore to ₹4 crore, showing weak cost control.

Is it expensive?

A price-to-earnings ratio is not meaningful here because the company is loss-making; the stock trades at 7.72 times book value.

What could go wrong?

The company's balance-sheet safety score is 0.0, indicating severe financial distress. Net profit margin is -41.7%, showing the business is not generating positive returns. Promoter holding has decreased, which could signal a lack of confidence in the company's future.

DocStoX conclusion

DocStoX rates ECOBOAR as “avoid”, scoring 3.4/10 with 55% confidence. The DocStoX verdict of 'avoid' follows from the company's poor balance-sheet safety and persistent losses. The most critical factor is the negative return on capital employed of -44.0%, which shows the business is not generating value for shareholders.

Analysis written by DocStoX's model on 2026-09-08 from company filings and market data · verdict updated 2026-09-09. Informational only, not investment advice. Consult a SEBI-registered adviser before investing.