Sharp India Reports Rs 517.19 Lakh Loss in Q1, Reappoints Independent Director
Sharp India Limited reported a net loss of Rs 517.19 lakh for Q1 ended June 30. Total income was Rs 1.25 lakh, while expenses reached Rs 518.44 lakh. The company has not produced LED TVs since April 2015 and air conditioners since June 2015 due to lack of orders. Accumulated losses stand at Rs 17,174.95 lakh. Sharp Corporation, Japan continues to provide financial support. Auditors issued a qualified conclusion for the 17th consecutive time. The Board approved reappointment of Abhijeet Bhagwat as Independent Director and appointed new Secretarial Auditor.
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Sharp India Limited , a consumer electronics company, has reported a net loss of Rs 517.19 lakh for the quarter ended June 30, according to its latest financial results. The company continues to face operational challenges, with accumulated losses reaching Rs 17,174.95 lakh as of the end of the quarter.
Financial Performance
The company's financial results for Q1 reveal:
- Total income: Rs 1.25 lakh
- Total expenses: Rs 518.44 lakh
- Net loss: Rs 517.19 lakh
- Loss per share: Rs 1.99 (not annualized)
| Particulars (in Rs. lakh) | Q1 | Q4 | Q1 |
|---|---|---|---|
| Total Income | 1.25 | 1.24 | 0.48 |
| Total Expenses | 518.44 | 458.37 | 484.82 |
| Net Loss | (517.19) | (457.13) | (484.30) |
Operational Status
Sharp India has not been producing LED TVs since April 2015 and air conditioners since June 2015 due to a lack of orders. Despite the cessation of production activities, the company continues to receive financial and operational support from its holding company, Sharp Corporation, Japan. The Japanese parent has provided a support letter until June 30, 2026.
Going Concern and Auditor's Qualification
The management maintains that the company can continue as a going concern based on the ongoing support from Sharp Corporation, Japan. However, the auditors have issued a qualified conclusion for the seventeenth consecutive time, citing concerns about the company's going concern assumption in the absence of a board-approved business plan and revival scheme.
Corporate Governance Updates
In other developments:
Reappointment of Independent Director: The Board of Directors has approved the reappointment of Mr. Abhijeet Bhagwat as an Independent Director for a second term of five years, from October 2, 2025, to October 1, 2030, subject to shareholder approval at the upcoming Annual General Meeting.
New Secretarial Auditor: The company has appointed M/s SVD & Associates, Company Secretaries, Pune, as the new Secretarial Auditor for a term of five consecutive years, pending shareholder approval at the forthcoming Annual General Meeting.
These developments come as Sharp India continues to navigate challenging market conditions and operational inactivity. The company's future strategies and potential revival plans remain a key focus for stakeholders as it relies on support from its parent company to maintain operations.
Historical Stock Returns for Sharp
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.82% | -5.19% | -7.33% | -11.81% | -51.04% | +147.12% |
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