Sparc Electrex reported zero revenue for the quarter ended June 30, 2026, marking a complete contraction from the ₹9.6 lakh logged in the corresponding quarter of FY25. Despite the absence of operational income, the company’s financial loss narrowed significantly, declining to ₹5.14 lakh from ₹65.65 lakh year-on-year.

The standalone unaudited results were approved by the board of directors at a meeting held on August 14, 2026. The limited review of the financials was carried out by the statutory auditor in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company recorded no income from operations or other revenues for the current quarter. This stands in contrast to the previous quarter ended March 31, 2026, where it reported minimal income of ₹0.19 lakh. For the full year ended March 31, 2026, total income stood at ₹73.07 lakh.

Earnings per share (basic) stood at (₹0.05) for the quarter, an improvement from the (₹0.65) recorded in Q1FY26. Diluted EPS was reported at (₹0.03). The equity share capital remained unchanged at ₹1,248.59 lakh.

What the Numbers Show

The divergence between the revenue collapse and the narrowing loss indicates that while operational activity has ceased or paused in the current quarter, fixed overheads or non-operational expenses have also decreased substantially compared to the prior year. In Q1FY26, the company generated ₹9.60 lakh in revenue but incurred a ₹65.65 lakh loss. In Q1FY27, with zero revenue, the loss shrank to ₹5.14 lakh, suggesting a significant reduction in cash burn or operating costs during the period.

Sparc Electrex Limited has issued a Postal Ballot Notice dated August 5, 2026, seeking shareholder approval for the appointment of three independent directors. The Board of Directors initially appointed Ms. Asha Shravan Kumar Khedia, Mr. Jayantilal Raghunathram Suthar, and Mr. Rohit Bhatia as Additional Directors on June 6, 2026. Shareholders must vote via remote e-voting between August 7, 2026, and September 5, 2026, to confirm these appointments for a five-year term commencing June 6, 2026.

The appointments are critical for maintaining the statutory composition of the Board following the resignation of Mr. Niraj Hareeshbhai Variava on June 7, 2026. The move ensures compliance with Section 149 of the Companies Act, 2013, which mandates a minimum number of independent directors. The resolutions were recommended by the Nomination and Remuneration Committee and signed by Managing Director Shobith Ganesh Hegde from the company's registered office in Mumbai.

Proposed Independent Directors

The postal ballot seeks approval for the following individuals, each serving a first term until June 5, 2031:

All three candidates have attended two out of two board meetings held so far and hold no shares in the company. They have submitted declarations confirming their independence under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI Listing Regulations.

Professional Profiles

Asha Shravan Kumar Khedia is a Practicing Company Secretary with over 13 years of experience in Taxation and Corporate Advisory. She has received multiple "Letters of Appreciation" from the Principal Director General of Income Tax for her service at the Income Tax Lounge, Mumbai.

Jayantilal Raghunathram Suthar brings 15 years of experience in Accounts, Audit, Taxation, and Corporate laws. His appointment replaces Mr. Variava, ensuring the Board maintains its required independent director quota.

Rohit Bhatia is a Practicing Company Secretary with more than five years of expertise in Corporate Governance and Regulatory matters. His background includes advisory services on Board effectiveness and appearances before the Registrar of Companies (ROC) and National Company Law Tribunal (NCLT).

E-Voting Schedule and Process

The company engaged Central Depository Services (India) Limited (CDSL) as the e-voting agency. The notice was dispatched electronically to all members registered as of July 31, 2026. No physical ballot forms will be accepted.

M/s. Pankaj Trivedi (Membership No. 30512), Practicing Company Secretary, has been appointed as the Scrutinizer to ensure a fair and transparent process. Results will be published on the company’s website and communicated to the stock exchanges simultaneously.