Eureka Industries Limited (EUREKAI.BO)

Eureka Industries Limited (EUREKAI.BO) — VMCI valuation read

Headline read on EUREKAI.BO: VMCI of 59/100 versus a Industrials sector median of 50. The 9-point above-median position is what makes Eureka Industries Limited a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on EUREKAI.BO: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on EUREKAI.BO: value (EUREKAI.BO trades at 23.0x earnings, 28% above the Industrials median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Industrials median (10.0%)), and risk (net debt to EBITDA of 0.6x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Industrials 12.0x baseline.

EUREKAI.BO rose 2.4% over the trailing 7 days, with a -5.6% read on a 30-day basis.