Sparc Electrex Ltd

AGM Details

• AGM held on 30 September 2026 at 1:30 p.m. IST via VC/OAVM.
• Remote e-voting ran 27–29 September 2026; AGM voting available during meeting.
• Total attendees: 42 Members via VC/OAVM.
• Meeting concluded at 1:52 p.m.; quorum declared; Chairman was an Independent Director.
• Directors and KMPs present included MD and Company Secretary.

Key Resolutions

• Adopt Audited Standalone Financial Statements for FY 2025-26.
• Re-appoint director retiring by rotation.

Voting Status

• Scrutinizer appointed for votes on the resolutions.
• Voting results to be published within 2 working days on exchange and company sites.

Director Changes

• Director to be re-appointed on rotation.

Sparc Electrex Ltd — Trading Window Closed from 01 October 2026 till 48 hours after the announcement of the Unaudited Financial Results for the quarter ended 30 September 2026

AGM and annual report access

• AGM scheduled 30 September 2026 at 01:30 PM IST via VC/OAVM.
• Shareholders without registered emails receive a web-link to access the FY2025-26 Annual Report and AGM notice.

Shareholder communications

• Web-link and full Annual Report path available on the company website under Investors section.

KYC and dematerialisation

• SEBI circular mandates updated KYC details and PAN; dematerialisation encouraged.

Compliance deadlines

• Cut-off date for email address updates: 28 August 2026.

Payments and folio updates

• Non-updated physical folios may receive payments only electronically per SEBI guidance.

AGM details

• AGM date/time: 30 September 2026 at 01:30 PM IST, via VC/OAVM.
• Deemed venue: registered office; physical attendance not required.
• Cut-off for voting: 28 August 2026; registers open 23–30 September 2026.

Ordinary resolutions

• Adoption of Audited Standalone Financial Statements for FY 2025-26.
• Re-appointment of Ravikumar Byrapatna Channappa as Director, retiring by rotation.

Dividend

• Dividend: Board not to recommend any dividend for FY 2025-26 due to net loss.

Director changes

• Suresh Vishwanathan, Executive Director, resigned 24 Apr 2026.
• Niraj Hareshbhai Variava, Independent Director, resigned 07 Jun 2026.
• Sushmita Swarup Lunkad, Independent Director, resigned 05 Aug 2026.
• Ashok Chhaganbhai Patel, Independent Director, ceased 16 Aug 2026 (death).
• Asha Shravan Kumar Khedia, Independent Director appointed 06 Jun 2026.
• Jayantilal Raghunathram Suthar, Independent Director appointed 06 Jun 2026.
• Rohit Bhatia, Independent Director appointed 06 Jun 2026.

Auditor appointments

• Statutory Auditor: Motilal & Associates LLP; proposed re-appointment for five-year term (36th to 41st AGM).
• Secretarial Auditor: Madhuri J. Bohra & Associates; five-year term; MR-3 observations noted.

Material related party transactions

• Material RPTs with promoter group Electrex entities include sale of goods, purchases, service charges, and loans/advances.
• Outstanding balances with promoter group and related parties disclosed in notes to accounts.

Financial performance

• Revenue from operations ₹28.29 lakh, down from ₹366.10 lakh in 2024-25.
• Total revenue ₹73.07 lakh in FY2025-26, vs ₹366.10 lakh prior year.
• Profit/loss before tax: ₹446.18 lakh loss.
• Profit after tax: ₹446.18 lakh loss.
• EPS: Basic ₹-4.45; Diluted ₹-2.28.
• YoY revenue decline about 92% driven by lower activity.
• Operating expenses ₹519.25 lakh, similar to prior year.
• No dividend declared for FY2025-26.

Operations and segments

• Manufacturing revenue: ₹28.09 lakh; Trading revenue: ₹0.20 lakh.
• Total segment revenue: ₹28.29 lakh; segment losses wide in both segments.
• Two segments: Manufacturing of Electrical Tools & Service; Trading.
• Capital employed across segments: Manufacturing ~₹373.23 lakh; Trading ~₹751.58 lakh.

Key asset and impairment events

• Inventory write-off ₹231.47 lakh; stock provision ₹75 lakh.
• Trade receivables written back ₹48.16 lakh; trade creditors written off ₹99.09 lakh.
• Disposed factory outlet cost ₹106.23 lakh; realis£ed profit ₹44.78 lakh.
• Forfeiture of 95,32,775 partly paid shares pending completion.
• Website compromise; new site launched at sparcelectrex.in.

Dividends and capital actions

• Dividend not declared; no dividend distribution policy required (below top-1,000 market cap).
• Right issue raised ₹14.28 crore; ₹12.12 crore allocated toward working capital.
• Utilisation approval and deviation details reflected in Note 32; no major deviations.

Governance and board changes

• Board size: 6 directors; 3 Executive, 3 Independent; new independents appointed June 2026.
• Resigned: Suresh Vishwanathan (28 Apr 2026); Niraj Variava (7 Jun 2026).
• Sushmita Lunkad resigned (5 Aug 2026); Ashok Patel ceased (16 Aug 2026) due to demise.
• Independent directors appointed: Asha Shravan Kumar Khedia; Jayantilal Raghunathram Suthar; Rohit Bhatia (6 Jun 2026).
• Audit Committee met 4 times; posture remains unchanged; Secretarial audit reports contain qualifications.

Audit, compliance and risks

• Statutory auditor: Motilal & Associates LLP; re-appointment proposed for 5-year term.
• Secretarial audit notes several observations; delays in regulatory filings noted; management responses provided.
• BSE fines totalling ₹1.82 lakh plus interest ₹41,915; delays in various disclosures.
• Independent Directors' familiarisation and board evaluation conducted; governance guidelines adopted.
• Management asserts going-concern basis; internal controls reviewed by Internal Audit.

Risks and outlook

• Outlook: long-term Indian power-tools opportunity; near-term focus on sales restoration and cost controls.
• Risks: currency, import dependence, competition, supply chain disruptions, and regulatory changes.
• Management intends disciplined capital allocation and working-capital management; monitoring of liquidity and statutory timelines.

Demise of Independent Director

• Ashok Chhaganbhai Patel, Independent Director of Sparc Electrex Ltd.
• Category: Independent Director.
• Date of demise: 15 August 2026, due to sudden cardiac attack.
• Cessation of Independent Director role upon demise.
• DIN: 08024669.
• Shareholding: No shareholding details provided.
• Interim arrangements or replacement not disclosed.

AGM Calendar of Events

• AGM on 30-Sep-2026 at 1:30 PM via VC/OAVM (deemed venue: Registered Office).
• Scrutinizer consent to act dated 07-Aug-2026.
• Board authorized poll process on 14-Aug-2026.
• Scrutinizer appointed on 14-Aug-2026.
• Benpos for notices: 28-Aug-2026; dispatch by 08-Sep-2026; newspaper pub by 09-Sep-2026.
• E-voting: cut-off 23-Sep-2026; window 27-Sep-2026 09:00 to 29-Sep-2026 17:00 IST.
• Scrutinizer report by 02-Oct-2026; Chairman to declare result by 02-Oct-2026; EVoting register to Chairman by 02-Oct-2026.