SHARDAMOTR2024-04-012024-06-30 SHARDAMOTR2024-04-012024-06-30in-bse-fin:OneOperatingExpenses01Member SHARDAMOTR2024-06-30 SHARDAMOTR2024-04-012024-06-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 535602 SHARDAMOTR NOTLISTED Sharda Motor Industries Limited Equity 2024-04-01 2025-03-31 2024-08-02 2024-07-26 INR Lakhs First quarter 17:10:00 18:15:00 2024-08-02 2024-08-02 Not applicable Single segment Manufacturing & Traidng of Auto Component Parts 2024-04-01 2024-06-30 Unaudited Standalone 6854317000.00 196265000.00 7050582000.00 4906805000.00 150076000.00 -2327000.00 357074000.00 4835000.00 128660000.00 486090000.00 6031213000.00 1019369000.00 0.00 1019369000.00 261815000.00 -5613000.00 256202000.00 0.00 763167000.00 0.00 0.00 0.00 0.00 763167000.00 -627000.00 762540000.00 762540000.00 0.00 57408000.00 2 25.73 25.73 0.00 0.00 25.73 25.73 Notes: 1. These standalone 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 standalone financial results have been reviewed and recommended by the Audit Committee and further considered & approved by the Board of Directors at their meeting held on Aug 02, 2024. The statutory auditors of the company have expressed an unmodified review opinion on these standalone financial results. 3. The figures for the three months ended March 31, 2024 as reported in these unaudited standalone financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. 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. 6. During the previous 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. 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. Other Expenses 486090000.00 7. The Board of Directors at its meeting held on April 18, 2024, approved a proposal to buy-back upto 10,27,777 equity shares of the company for an aggregate amount not exceeding INR 18,499.99 lakh, being 3.46% of the total paid-up equity share capital at INR 1,800 per equity share. The shareholders approved the same on May 24, 2024, by way of a special resolution through postal ballot. A Letter of Offer was made to all eligible shareholders. The company bought back 10,27,777 equity shares out of the shares that were tendered by eligible shareholders and extinguished the equity shares on June 28, 2024. Capital redemption reserve was created to the extent of share capital extinguished (INR 20.55 lakh). The excess cost of buy-back of INR 18,685.83 lakh (including INR 206.39 lakh towards transaction cost of buy-back) over par value of shares and corresponding tax on buy-back of INR 4,306.48 lakh were offset from retained earnings. 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 standalone 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). Items that will not be classified as profit and loss -838000.00 -838000.00 -211000.00 0.00