Sharda Motor Industries Limited held a Board of Directors meeting on August 10, 2026 (commenced at 05:05 PM IST, concluded at 06:15 PM IST). The meeting was conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Board Decisions and Approvals:
1. Approval of Financial Results: The Board approved the Un-audited Financial Results (Standalone & Consolidated) for the first quarter of FY 2026-27 ended June 30, 2026. The results were reviewed by the Audit Committee and statutory auditors S.R. Dinodia & Co. LLP issued an unmodified review opinion.
2. Re-appointment of Cost Auditors: The Board re-appointed M/s Gurdeep Singh & Associates as Cost Auditors for FY 2026-27 based on the recommendation of the Audit Committee. The appointment is subject to shareholder approval at the ensuing Annual General Meeting. The firm is a proprietorship with over 20 years of experience in various sectors including Auto Parts, Power, Engineering, and Pharmaceuticals.
3. Appointment of Whole-time Director: The Board appointed Mr. Ajay Relan (DIN: 00257584) as Whole-time Director for a term of 5 years effective September 1, 2026, based on the recommendation of the Nomination and Remuneration Committee. The appointment is subject to shareholder approval pursuant to Regulation 17(1C) of SEBI Listing Regulations. Mr. Relan has been with the company since incorporation and has over four decades of experience in automotive component manufacturing. He is the father of Mr. Aashim Relan, Chief Executive Officer of the company, but is not related to any other directors. Confirmations were provided that he is not debarred by SEBI or any other authority and is not disqualified under Section 164 of the Companies Act, 2013.
Standalone Financial Results (Q1 FY27):
- Revenue from Operations: ₹1,01,106.68 lakh (vs. ₹75,624.81 lakh in Q1 FY26)
- Other Income: ₹2,705.74 lakh (vs. ₹2,297.14 lakh in Q1 FY26)
- Total Income: ₹1,03,812.42 lakh (vs. ₹77,921.95 lakh in Q1 FY26)
- Profit Before Tax: ₹11,425.86 lakh (vs. ₹12,921.96 lakh in Q1 FY26)
- Tax Expense: ₹2,847.45 lakh (Current: ₹2,812.98 lakh, Deferred: ₹34.47 lakh)
- Net Profit: ₹8,578.41 lakh (vs. ₹9,910.27 lakh in Q1 FY26)
- Earnings Per Share (Basic & Diluted): ₹14.94 (vs. ₹17.26 in Q1 FY26)
- Paid-up Equity Share Capital: ₹1,148.16 lakh (face value ₹2 each)
Consolidated Financial Results (Q1 FY27):
- Revenue from Operations: ₹1,01,106.68 lakh
- Other Income: ₹2,705.74 lakh
- Total Income: ₹1,03,812.42 lakh
- Profit Before Tax: ₹11,500.25 lakh
- Tax Expense: ₹2,847.45 lakh
- Net Profit: ₹8,652.80 lakh
- EPS (Basic & Diluted): ₹15.07
- Share of Profit from Associate: ₹4.53 lakh (Relan Industrial Finance Limited)
- Share of Profit from Joint Venture: ₹70.50 lakh (Exhaust Technology Private Limited)
- Subsidiary Impact: Uddipt Mobility India Private Limited reported a net loss of ₹0.64 lakh
Notes to Financial Results:
- Prepared in accordance with Ind AS 34 and Regulation 33 of SEBI LODR
- The company operates in a single reportable segment: manufacturing & trading of auto component parts
- Exceptional items for previous periods included profit on sale of PPE (₹2,240.92 lakh in Q1 FY26) and provision for employee benefit past service cost (₹20.43 lakh in Q4 FY26)
- The figures for the three months ended March 31, 2026, are balancing figures between audited full-year figures and published year-to-date figures up to Q3 FY26
The complete financial results and annexures are available on the company's website (www.shardamotor.com) and stock exchange websites.