Smaart Tech Services Ltd (523449)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Smaart Tech's revenue was ₹0.0 Cr, and net profit ₹-5.8 Cr (a bigger loss than a year earlier).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | — | — |
| Operating profit | ₹-2.0 | loss widened | loss widened |
| Net profit | ₹-5.8 | loss widened | loss widened |
| EPS (₹) | -2.22 | loss widened | loss widened |
📢 Recent Corporate Announcements
Smaart Tech Services Limited (formerly Sharp India Limited) approved the appointment of M/s V A Dudhedia & Co, Chartered Accountants, as Statutory Auditors on August 31, 2026. The appointment fills the casual vacancy caused by the resignation of M/s G. D. Apte & Co on August 13, 2026, and extends for a 5-year term from the 41st AGM to the 46th AGM, subject to shareholder approval. Additionally, Ms. Priyanka Patil was appointed as Internal Auditor. The company's 41st AGM is scheduled for September 29, 2026, with a voting cut-off date of August 28, 2026.
- Appointed M/s V A Dudhedia & Co as Statutory Auditors for a 5-year term starting from the 41st AGM to the 46th AGM
- Casual vacancy arose from the resignation of M/s G. D. Apte & Co on August 13, 2026
- Appointed Ms. Priyanka Patil (Assistant Manager, Accounts & Finance) as Internal Auditor effective August 31, 2026
- 41st Annual General Meeting scheduled for September 29, 2026, with voting cut-off date on August 28, 2026
Sharp India Limited has officially changed its name to Smaart Tech Services Limited following the receipt of a fresh Certificate of Incorporation from the Ministry of Corporate Affairs (MCA) dated 18th August 2026. The company also received registration for altering its Memorandum of Association (MOA) object clause and adopted a new set of Articles of Association. This formalizes the shareholder approval previously obtained via postal ballot on 10th August 2026. The move comes as the company continues to report Rs 0 Cr in quarterly revenue with a negative net worth of Rs -141 Cr.
- Fresh Certificate of Incorporation issued by MCA on 18th August 2026 approving the name change to Smaart Tech Services Limited.
- Special resolution altering the object clause of the Memorandum of Association registered by MCA on 18th August 2026.
- Shareholder approval for the corporate restructuring was completed via postal ballot on 10th August 2026.
- Adoption of a new set of Articles of Association aligned with Table F of the Companies Act, 2013.
M/s G. D. Apte & Co has resigned as the Statutory Auditor of Sharp India Ltd effective August 13, 2026, citing 'pre-occupancies and other professional commitments.' The resignation occurs mid-term, as the auditor was originally appointed until the 2027 Annual General Meeting. Notably, the company reports zero revenue for the TTM period and a negative net worth of ₹141 Cr. The outgoing auditor has completed the FY26 audit and the limited review for the quarter ended June 30, 2026, prior to their departure.
- Resignation of M/s G. D. Apte & Co effective from August 13, 2026
- Auditor term was originally scheduled to expire at the 42nd AGM in 2027
- Company reports ₹0 Cr revenue for the last four consecutive quarters
- Net worth stands at negative ₹141 Cr with a debt of ₹141 Cr
- Auditor completed the statutory audit for FY26 and limited review for Q1 FY27 before resigning
Sharp India has confirmed the appointment of Mr. Anant Raghute as Managing Director for a 3-year term (June 2026 to June 2029) following shareholder approval via postal ballot. The company also appointed three Independent Directors for 5-year terms and two Non-Executive Directors to its board. This leadership overhaul occurs while the company is in a distressed state, reporting zero revenue for FY26 and a negative net worth of ₹141 Cr. While the board is now reconstituted, the business remains non-operational with a TTM loss of ₹24 Cr.
- Mr. Anant Raghute appointed as Managing Director for a 3-year term effective from June 5, 2026, to June 4, 2029.
- Three Independent Directors (Yashavant Avatade, Sanjeev Mahajan, Bhakti Hosalkar) appointed for 5-year terms until June 2031.
- Company reported ₹0 revenue for the last four consecutive quarters ending March 2026.
- Net worth remains deeply negative at ₹-141 Cr with a total debt of ₹141 Cr.
- Promoter holding remains stable at 75.0% as of March 2026.
Sharp India continues to report zero operational revenue for the quarter ended June 30, 2026, as production has been halted since FY 2015-16. The company recorded a net loss of ₹5.76 crore, primarily due to finance costs of ₹3.72 crore and employee benefits of ₹1.28 crore. A major structural change occurred on June 2, 2026, with Smart Services Private Limited completing the acquisition of a 75% stake from Sharp Corporation, Japan, for ₹19.45 crore. The financial results are prepared on a 'non-going concern' basis due to total net worth erosion and lack of alternate revenue streams.
- Revenue from operations remained at ₹0.00 for the quarter ended June 30, 2026.
- Net loss for the quarter stood at ₹5.76 crore compared to a loss of ₹5.17 crore in the previous year's corresponding quarter.
- Smart Services Private Limited acquired 75% equity (1.94 crore shares) for a total consideration of ₹19.45 crore.
- Finance costs of ₹3.72 crore represent approximately 64.5% of the total quarterly expenses.
- Company remains a 'non-going concern' with a negative net worth of ₹141 crore as per latest annual data.
Sharp India Ltd has scheduled a board meeting for August 7, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial position, reporting zero operational revenue for the last four consecutive quarters and a negative net worth of ₹141 Cr. With a TTM loss of ₹24 Cr and debt equal to its negative net worth at ₹141 Cr, the upcoming results are critical for assessing any signs of business revival.
- Board meeting scheduled for August 7, 2026, to approve Q1 FY27 results
- Company reported ₹0.0 Cr revenue for the entire FY26 and FY25
- Net worth is currently negative at -₹141 Cr as per latest context
- Total debt stands at ₹141 Cr, resulting in a highly stressed balance sheet
- Promoter holding remains stable at 75.0% as of March 2026
Smart Services Private Limited (SSPL) has completed the acquisition of 1,94,58,000 equity shares of Sharp India Ltd, representing 75% of the total paid-up capital. This acquisition from the erstwhile promoter, Sharp Corporation, Japan, follows a Share Purchase Agreement (SPA) dated April 14, 2026, and a subsequent mandatory open offer. Consequently, Sharp Corporation has exited its promoter status and holds 0% equity, while SSPL is now the sole promoter. The board has been reconstituted to reflect this change in control.
- Acquisition of 1,94,58,000 equity shares representing 75% of the total paid-up capital
- Sharp Corporation, Japan, has ceased to be a promoter and now holds 0% equity
- Smart Services Private Limited (SSPL) is now the new Promoter/Promoter Group entity
- The Share Purchase Agreement (SPA) triggering this change was executed on April 14, 2026
- The board of directors has been reconstituted following the change in control
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