Sharika Enterprises Ltd

Order details

• Purchase order from LS Cable India Private Limited for 24F/48F OPGW cables.
• Contract value Rs 1,78,01,789.
• Domestic awarding entity LS Cable India Private Limited.
• Completion by 14 September 2026.
• No promoter/group interest; not a related party transaction.

Contract award details

• Punjab Energy Development Agency awards 12W LED SPV street lighting project in Punjab; value Rs 10,42,38,292; 120 days.

Standalone results

• Standalone revenue from operations: Rs 2,219.83 Lakhs for quarter ended 30-Jun-2026.
• Standalone total income: Rs 2,234.87 Lakhs; standalone total expenses: Rs 2,202.99 Lakhs.
• Standalone profit before tax: Rs 31.88 Lakhs; standalone profit after tax: Rs 22.86 Lakhs.
• Standalone tax expense: Rs 9.02 Lakhs; deferred tax Rs 9.02 Lakhs; current tax nil.
• Standalone basic and diluted EPS: Rs 0.05.

Consolidated results

• Consolidated revenue from operations: Rs 2,220.07 Lakhs; total income: Rs 2,231.63 Lakhs.
• Consolidated total expenses: Rs 2,190.66 Lakhs; profit before tax: Rs 40.97 Lakhs; profit after tax: Rs 29.86 Lakhs.
• Consolidated basic and diluted EPS: Rs 0.08.

Auditor remarks & key notes

• Statutory auditors issued a modified opinion on the quarterly results.
• Slow/non-moving inventories Rs 149.25 Lakhs; no obsolescence provision.
• Advances to suppliers Rs 210.66 Lakhs; recoverability not assessed.
• Trade receivables Rs 4,862.30 Lakhs; ECL not computed.
• Consolidated trade receivables Rs 5,273.38 Lakhs; ECL not computed.
• Sequential settlement arrangements with vendors; trade receivables linked to WC stock.
• Spintech investment Rs 579.69 Lakhs; accumulated losses Rs 514.63 Lakhs; carrying value deemed appropriate.
• Results prepared under Ind AS; single reportable EPC segment.

Business & reporting notes

• Quarterly standalone and consolidated results pertain to quarter ended 30-Jun-2026 and year ended 31-Mar-2026.
• Holding company focuses on EPC for electrical cables, capacitors, wires and turnkey projects.

Financial results approved

• Standalone Q1 FY27 unaudited results approved; Audit Committee reviewed; Limited Review Report attached.
• Consolidated Q1 FY27 unaudited results approved; Audit Committee reviewed; Limited Review Report attached.
• Standalone revenue from operations Rs 2,219.83 lakh; PAT Rs 22.86 lakh.
• Consolidated revenue from operations Rs 2,220.07 lakh; PAT Rs 29.86 lakh.

Audit opinions and emphasis

• Statutory auditors issued a modified opinion on standalone results due to inventory ageing and recoverability concerns.
• Statutory auditors issued a modified opinion on consolidated results for similar reasons.
• Emphasis of Matter notes on sequential settlements with vendors.
• Note 7: sequential settlement arrangements; trade receivables considered in stock statements.

Key disclosures

• Spintech investment Rs 579.69 lakh; accumulated losses Rs 514.68 lakh; carrying value deemed appropriate.
• Inventory note: Rs 149.25 lakh in slow/non-moving stocks; no obsolescence provision.
• Standalone trade receivables Rs 4,862.30 lakh; ECL not computed.
• Consolidated trade receivables Rs 5,273.38 lakh; ECL not computed.
• Advances to suppliers outstanding Rs 210.66 lakh; recoverability not assessed.

Resolutions

• Resolution 1: Special; issue up to 1,51,49,079 equity shares on preferential basis to non-promoter.
• Promoter interest: none.
• Intended allottees: non-promoter category.
• Voting outcome: passed; 100% in favour.
• Resolution 2: Special; issue up to 38,38,102 share warrants convertible into equity.
• Intended allottees: promoter and non-promoter category.
• Promoter interest: Yes.
• Voting outcome: passed; 99.997% in favour, 0.0026% against.

Impact on shareholding

• Issuances will cause dilution contingent on allotment of shares and warrants.

Governance

• No directors or management changes disclosed.

EGM Resolutions

• Resolution 1 (Special): Issue up to 1,51,49,079 equity shares on a preferential basis to non-promoters.
• Resolution 2 (Special): Issue 38,38,102 warrants convertible into equity on a preferential basis to promoters and non-promoters.
• Voting outcome: Combined results and scrutinizer's report to be intimated to BSE and posted within 2 working days.
• Rationale: Strengthen financial position and support growth opportunities.
• Pricing/terms: Price details and other terms not disclosed in this extract.
• Board/promoter changes: No changes disclosed in this excerpt.

Changes to proposed allottees

• Disqualified allottee Amit Dayalji Chauhan removed; replacement Surendra Shashikant Parikh (non-promoter).
• Disqualified allottee Mehul Suryakant Jain removed; replacement Bhavna Parasmal Chordiya (non-promoter).
• Explanatory Sr.No 18 updated: Surendra Shashikant Parikh; PAN AAAPP5309B (was AGPPC8709B).
• Explanatory Sr.No 35 updated: Bhavna Parasmal Chordiya; PAN AXIPC3171H (was ATXPJ1594J).
• 2nd Corrigendum forms integral part of EGM Notice; read with First Corrigendum.

Capital action

• Two proposed allottees ceased eligibility for the preferential issue due to sale of shares.
• New allottees approved: Surendra Shashikant Parikh replaces Amit Dayalji Chauhan.
• New allottees approved: Bhavna Parasmal Chordiya replaces Mehul Suryakant Jain.
• Issue price remains ₹14.33 per share; number of shares unchanged.
• Annexure A attached listing revised proposed allottees.
• Second Corrigendum to EGM Notice approved to reflect changes.
• Consequential actions under Companies Act and ICDR Regulations to be taken.
• Total proposed allotments: 15,149,079 shares for ₹21,70,86,305.
• Effective date: board approval on July 16, 2026.
• All other terms and conditions remain unchanged.