SHARDAMOTR2024-01-012024-03-31 SHARDAMOTR2024-01-012024-03-31 SHARDAMOTR2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member SHARDAMOTR2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member SHARDAMOTR2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 535602 SHARDAMOTR NOTLISTED Sharda Motor Industries Limited Equity 2023-04-01 2024-03-31 2024-05-23 2024-05-16 INR Lakhs Yearly 16:50:00 18:00:00 2024-05-23 2024-05-23 true Cash Flow Indirect Declaration of unmodified opinion Single segment Manufacturing & Traidng of Auto Component Parts 2024-01-01 2024-03-31 Audited Consolidated 7033939000.00 289118000.00 7323057000.00 5060674000.00 149908000.00 -12587000.00 316571000.00 2013000.00 139534000.00 525148000.00 6181261000.00 1141796000.00 0.00 1141796000.00 286325000.00 -1777000.00 284548000.00 0.00 857248000.00 0.00 0.00 0.00 25727000.00 882975000.00 -8950000.00 874025000.00 882975000.00 0.00 848298000.00 0.00 59463000.00 2 29.70 29.70 0.00 0.00 29.70 29.70 Notes: 1. These consolidated financial results have been prepared in accordance with the recognition and measurement principles of Indian Accounting Standards (“Ind AS”), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and in compliance with the regulation 33 of the SEBI (listing obligations and Disclosure requirements) regulations 2015. 2. The above consolidated financial results have been extracted from the audited consolidated financial statement for the year ended March 31, 2024 and have been reviewed and recommended by the Audit Committee and further considered & approved by the Board of Directors at their meeting held on May 24, 2024. The statutory auditors of the company have expressed an unmodified review opinion on these consolidated financial results. 3. The Board of Directors at its meeting held on May 23, 2024 has recommended a dividend of Rs. 9.92 per equity share for the year ended March 31, 2024, subject to the approval of Shareholders in the ensuing annual general meeting. 4. In line with the provision of Ind AS 108- Operating Segments and on the basis of review of operations being done by the management of the company, the operations of the company falls under manufacturing & trading of auto component parts, which is considered to be the only reportable segment by the management. 5. The code on Social Security, 2020 (''Code ) relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any impact in the period the Code becomes effective. Single segment 2023-04-01 2024-03-31 Audited Consolidated 28092624000.00 878541000.00 28971165000.00 20969900000.00 607093000.00 -148525000.00 1322716000.00 22076000.00 525566000.00 1727096000.00 25025922000.00 3945243000.00 0.00 3945243000.00 980925000.00 15345000.00 996270000.00 0.00 2948973000.00 0.00 0.00 0.00 46936000.00 2995909000.00 -2108000.00 2993801000.00 2995909000.00 0.00 2946465000.00 0.00 59463000.00 2 9999425000.00 100.77 100.77 0.00 0.00 100.77 100.77 Other Expenses 525148000.00 Other Expenses 1727096000.00 1891407000.00 288000.00 0.00 0.00 300426000.00 0.00 0.00 0.00 3378544000.00 0.00 0.00 0.00 3378544000.00 53048000.00 236955000.00 5860668000.00 1969115000.00 3341448000.00 2271569000.00 2583615000.00 62785000.00 0.00 101151000.00 8360568000.00 0.00 88109000.00 10417792000.00 0.00 0.00 16278460000.00 59463000.00 9999425000.00 10058888000.00 10058888000.00 0.00 0.00 225987000.00 225987000.00 104847000.00 0.00 0.00 8567000.00 339401000.00 0.00 4948927000.00 151729000.00 5100656000.00 675171000.00 99886000.00 4458000.00 0.00 5880171000.00 0.00 0.00 6219572000.00 16278460000.00 6. During the year, in the month of May 2023, the Income Tax Department (‘the department’) had conducted a search under section 132 of the Income Tax Act, 1961 at company’s registered & corporate office, few of its manufacturing locations and other premises and residence of few of its employees/key managerial personnel. During the search proceedings, the company has provided necessary information and responses to the department. Also, the department has taken certain documents, data backups and other information for further investigation. The business and operations of the company is continuing without any disruptions. Details called for in these cases vide various notices issued u/s 142(1) of the I.T. Act has been submitted. All these cases are at its initial stages and no material adjustment are required in the financial statements in this regard. Having regard to the matter as stated above, the management is of the view that no material adjustments are required to these financial results in this regard. 7. Company at its board meeting held on 18th April, 2024, approved the buy back of upto 10,27,777 fully paid equity shares of the company, each having face value of Rs. 2/- representing upto 3.46% of total equity shares of the Company, at a price of Rs. 1800/- per equity share payable in cash for as aggregate amount not exceeding 1,84,99,98,600/-. This is subject to the approval of the Shareholders. Company is in process of taking Shareholders approval through postal ballot. 8. Figures of the previous period/year have been re-grouped / re-classified, wherever necessary to make them comparable with the current period figures. 9. The consolidated financial results of the company are also available on the Company's website (www.shardamotor.com) and on the website of BSE (www.bseindia.com) and NSE (www.nseindia.com). 19854000.00 71596000.00 1021184000.00 0.00 21389000.00 0.00 0.00 -2123000.00 0.00 -206233000.00 0.00 47282000.00 0.00 525566000.00 0.00 38468000.00 0.00 3491000.00 0.00 -4212000.00 0.00 311051000.00 0.00 -50992000.00 0.00 0.00 -402928000.00 0.00 0.00 771291000.00 4716534000.00 0.00 0.00 0.00 1020950000.00 0.00 3695584000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 437553000.00 731408000.00 -6106869000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 283422000.00 0.00 3965169000.00 0.00 -2152133000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9017000.00 0.00 513465000.00 19854000.00 0.00 0.00 -542336000.00 1001115000.00 9920000.00 1011035000.00 1572580000.00 2583615000.00 -12059000.00 -2951000.00 -3109000.00 -843000.00 0.00 0.00