Earkart Limited's board of directors conducted a comprehensive review of a proposed investment opportunity during their meeting on December 18, 2025. The board session, which ran from 11:00 AM to 12:40 PM, focused entirely on the company's potential investment in Turtle Maarks LLP.

Board Meeting Details

The meeting outcome was communicated to BSE Limited in compliance with SEBI regulations. Key details of the board session include:

Investment Review Authorization

Following detailed deliberations, the board authorized a comprehensive review of the investment proposal. An Independent Director has been tasked with conducting this evaluation, which will include undertaking fresh valuation parameters and comprehensive due diligence of Turtle Maarks LLP.

Next Steps and Timeline

The board has established a timeline for the investment review process. The Independent Director is expected to present detailed findings and recommendations at the next scheduled board meeting on Tuesday, December 23, 2025. At this meeting, directors will review the comprehensive analysis before making any final investment decisions.

Regulatory Compliance

Earkart Limited has fulfilled its disclosure obligations under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's communication to BSE Limited ensures transparency regarding this corporate development and maintains compliance with applicable listing regulations.

Earkart Limited, a prominent player in the hearing aid manufacturing sector, has released its financial results for the first half of the fiscal year, revealing a mixed performance amidst market challenges and opportunities.

Revenue Performance

Earkart reported a total revenue of ₹22.00 crores for H1, marking a 5.00% decline compared to the same period last year. This dip in overall revenue can be attributed primarily to delays in government tenders, which have historically been a significant contributor to the company's business.

Private Sector Growth

Despite the overall revenue decline, Earkart demonstrated strong performance in the private sector:

• Private Sector Growth: 25.00% year-over-year increase
• Contribution: This growth helped offset some of the impact from delayed government orders

Government Sector Challenges

The company faced headwinds in the government sector:

• Delayed Tenders: Several government tenders, which typically open before September, were deferred
• Impact: This delay was the primary factor behind the 5.00% overall revenue decline

H2 Outlook

Earkart's management expressed optimism for the second half of the fiscal year:

• New Orders: ₹9.00 crores worth of new orders already secured
• Expected Performance: Strong H2 anticipated, potentially compensating for the H1 shortfall

Strategic Expansion

Earkart is pursuing an expansion strategy focused on its OMNI audiometer:

• Current Installations: Approximately 56 clinics
• Target: 110 clinic installations by March
• Long-term Goal: 500 installations by 2028

Financial Insights

Market Implications

1. Diversification Strategy: The strong growth in the private sector suggests that Earkart's efforts to diversify its revenue streams are bearing fruit.
2. Government Dependency: The impact of delayed government tenders highlights the need for the company to further reduce its reliance on government contracts.
3. Expansion Potential: The ambitious clinic installation targets indicate Earkart's confidence in its OMNI audiometer technology and its potential to drive future growth.

Investor Considerations

• Short-term Volatility: The mixed H1 results may lead to some short-term stock price volatility.
• Long-term Prospects: The expansion plans and private sector growth suggest potential for long-term value creation.
• Risk Factors: Investors should monitor the company's ability to execute its expansion plans and the timing of government tender resolutions.

As Earkart Limited navigates through these mixed results, its ability to capitalize on private sector opportunities while managing government sector uncertainties will be crucial for its future performance. The company's expansion strategy with the OMNI audiometer could be a key differentiator in the competitive hearing aid market.