Salora International Ltd has disclosed related party transactions for the half-year ended March 31, 2026, revealing sales of finished goods and payments to directors. The company submitted the details to BSE Ltd pursuant to Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transactions were certified by statutory auditors UBS & Company to have been conducted in the ordinary course of business and at arm's length prices.

Transactions with Devi Electronics Private Limited

The primary related party transaction involved the sale of finished goods to Devi Electronics Private Limited. The company recorded sales amounting to ₹4.20 crore during the reporting period. Additionally, expenses of ₹0.20 lakh were paid on behalf of the party, and rent income of ₹0.63 lakh was recognized.

Director Remuneration and Loans

The disclosure outlined remuneration paid to the company's leadership. Managing Director Gopal Sitaram Jiwarajka received ₹21.87 lakh, while Director Ayush Jiwarajka was paid ₹12.61 lakh. Company Secretary Mohd. Khizar Ali Khan received remuneration of ₹1.40 lakh. Independent Directors Rajiv Bajaj, Paramartha Saikia, and Mrs. Rachna Lodha were each paid sitting fees of ₹0.40 lakh.

Financial Balances and Other Transactions

The filing also detailed the financial position regarding loans and dues. Gopal Sitaram Jiwarajka had an outstanding loan balance of ₹612.45 lakh as of the reporting period end, following a repayment of ₹2,089.57 lakh during the term. The company also reported rent income of ₹9.35 lakh due from Quick Load 247 Private Limited, an entity connected to a director's spouse. Interest paid to Gopal Sitaram Jiwarajka amounted to ₹23.22 lakh for the period.

Salora International reported a widened net loss of ₹407.46 lakh for the financial year ended March 31, 2026, compared to a net loss of ₹132.61 lakh in the previous year. The consumer electronics company saw its revenue from operations contract to ₹6,107.45 lakh in FY26 from ₹15,090.30 lakh in FY25, reflecting an unfavorable business environment. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, during a meeting held on May 28, 2026.

Financial Performance

The company recorded a total income of ₹6,327.28 lakh for the year ended March 31, 2026, down from ₹15,274.54 lakh in the prior year. Total expenses for FY26 stood at ₹6,557.82 lakh, a decrease from ₹15,446.33 lakh in FY25. The loss for the quarter ended March 31, 2026, was reported at ₹286.57 lakh, with revenue from operations for the quarter at ₹1,111.50 lakh.

Key Financial Metrics

Exceptional Items and Tax Assets

The financial results include an exceptional item of ₹237.77 lakh, representing the lapse of deferred tax assets on unabsorbed business losses. Due to the inability to generate profits to utilize these assets, the amount was written off during the year. Deferred tax assets as of March 31, 2026, stood at ₹2,038.78 lakh, which the company expects to realize based on its enhanced product portfolio and new business strategy focusing on deeper penetration and operational efficiency.

Auditor and Board Approvals

Statutory auditors O P Bagla & Co LLP issued an audit report with an unmodified opinion on the audited financial results. The board also approved the appointment of M/s. Navneet Sehgal & Co., Chartered Accountants, as internal auditors and M/s. Gurvinder Chopra & Co., Cost Accountants, as cost auditors for FY26-27. Additionally, the board reviewed related party transactions for the period ended March 31, 2026.