Sharika Enterprises Ltd (540786)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Sharika Enterprises' revenue was ₹22.2 Cr (+26.7% year on year, +5.7% on the previous quarter), and net profit ₹0.3 Cr (against a loss a year earlier); the operating margin was 6.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹22.2 | +26.7% | +5.7% |
| Operating profit | ₹1.5 | from loss | from loss |
| Net profit | ₹0.3 | from loss | from loss |
| EPS (₹) | 0.08 | from loss | from loss |
| Operating margin | 6.7% | — | — |
📢 Recent Corporate Announcements
Sharika Enterprises announced an institutional investor meeting scheduled for October 17, 2026, with Veloce Opportunities Fund in Surat. The company attached its investor presentation, which highlights existing projects including a ₹24.9 Cr ADMS subcontract under RDSS in Uttarakhand (target completion Sep 2027) and a ₹4 Cr consultancy partnership with JSW Steel. Relative to the company's TTM revenue of ₹80 Cr, the ₹24.9 Cr project represents ~31% of annual turnover. However, the filing itself is a routine intimation of an analyst meeting with no new orders or material corporate actions announced.
- Institutional investor meeting scheduled with Veloce Opportunities Fund on October 17, 2026, at 09:45 AM in Surat.
- Investor presentation highlights a ₹24.9 Cr ADMS subcontract for UPCL under RDSS with target completion by Sep 2027.
- Presentation notes a ₹4 Cr consultancy partner order with JSW Steel for Reactive Power Management System Studies.
- Order highlight also includes deployment of ~1,000 smart IoT-enabled Fault Passage Indicators for PVVNL Varanasi.
Promoters of Sharika Enterprises Ltd (Rajinder Kaul, Arun Kaul, and Sanjay Verma) were allotted 10,67,725 convertible share warrants via a preferential issue on September 25, 2026. Each warrant is convertible into one fully paid-up equity share of face value Rs 5 within 18 months. Following broader preferential allotments and warrant conversions, total diluted share capital expands from 4,33,00,000 shares (Rs 21.65 crore) to 5,83,04,440 shares (Rs 29.15 crore). On a fully diluted basis, the overall promoter and PAC voting share is reported at 50.25%, down from 65.19% pre-issue due to overall dilution.
- Promoters allotted 10,67,725 convertible warrants (1.83% of diluted capital)
- Warrants are convertible into equity shares of face value Rs 5 within 18 months
- Pre-issue equity capital was Rs 21,65,00,000 across 4,33,00,000 equity shares
- Post-acquisition total diluted capital increases to Rs 29,15,22,200 across 5,83,04,440 shares
- Promoter & PAC holding stands at 48.42% of post-issue paid-up capital and 50.25% on a diluted basis
Sharika Enterprises approved the allotment of 1,21,92,125 equity shares at ₹14.33 per share, raising ₹17.47 crore from 46 non-promoter investors. Additionally, the board allotted 28,12,315 convertible warrants at ₹14.33 each (aggregating to ₹4.03 crore), receiving 25% upfront application money of ₹1.01 crore. In total, the preferential issue brings in ~₹18.48 crore immediately, with the full potential raise representing ~29% of the company's current ₹75 crore market capitalization. The issue price of ₹14.33 represents an 18.6% discount to the prevailing market price of ₹17.6.
- Allotted 1,21,92,125 equity shares at ₹14.33 each, raising ₹17.47 crore from non-promoters
- Allotted 28,12,315 warrants at ₹14.33 each with ₹1.01 crore (25%) received upfront
- Total issue size (equity plus warrants) amounts to up to ₹21.50 crore
- Warrants are exercisable within 18 months upon payment of the remaining 75% (₹10.7475 per warrant)
- Subscribed equity base expands to 5,54,92,125 shares post-equity allotment
Sharika Enterprises approved the allotment of 1,21,92,125 equity shares at ₹14.33 per share, raising ₹17.47 crore from 46 non-promoter investors. Additionally, the board allotted 28,12,315 convertible warrants at ₹14.33 each (aggregating to ₹4.03 crore), receiving 25% upfront application money of ₹1.01 crore. In total, the preferential issue brings in ~₹18.48 crore immediately, with the full potential raise representing ~29% of the company's current ₹75 crore market capitalization. The issue price of ₹14.33 represents an 18.6% discount to the prevailing market price of ₹17.6.
- Allotted 1,21,92,125 equity shares at ₹14.33 each, raising ₹17.47 crore from non-promoters
- Allotted 28,12,315 warrants at ₹14.33 each with ₹1.01 crore (25%) received upfront
- Total issue size (equity plus warrants) amounts to up to ₹21.50 crore
- Warrants are exercisable within 18 months upon payment of the remaining 75% (₹10.7475 per warrant)
- Subscribed equity base expands to 5,54,92,125 shares post-equity allotment
Sharika Enterprises has secured a domestic purchase order valued at ₹1.78 crore from LS Cable India Private Limited. The contract entails the supply of 24F and 48F OPGW cables with an execution timeline ending by September 14, 2026. This contract size represents approximately 2.2% of the company's TTM revenue of ₹80 crore. The transaction does not involve any related-party interest.
- Received a purchase order worth ₹1,78,01,789 from LS Cable India Private Limited
- Scope entails supply of 24F & 48F OPGW Cable
- Contract execution scheduled for completion by September 14, 2026
- Order value constitutes ~2.2% of TTM revenue of ₹80 Cr
Sharika Enterprises has secured a work order valued at Rs. 10.42 crore from the Punjab Energy Development Agency (PEDA). The contract involves the design, supply, and installation of 12W LED solar street lighting systems across Punjab, with a completion deadline of 120 days. This order is significant as it represents approximately 13.8% of the company's TTM revenue of Rs. 75.46 crore. Given the company's current loss-making status (TTM PAT of Rs. -9 crore) and negative operating margins (-11.5%), the execution efficiency of this contract will be critical for financial recovery.
- Received a work order worth Rs. 10,42,38,292 from a Punjab Government Undertaking.
- Order size represents approximately 13.8% of the company's TTM revenue of Rs. 75.46 crore.
- Execution timeline is strictly defined at 120 days for completion.
- Scope includes design, supply, installation, and commissioning of 12W LED based SPV Street Lighting Systems.
Sharika Enterprises reported a consolidated net profit of ₹0.30 Cr for Q1 FY27, a turnaround from a loss of ₹1.68 Cr in Q1 FY26. Revenue grew 31.5% YoY to ₹22.20 Cr. However, the statutory auditor issued a severe qualified opinion regarding ₹48.62 Cr in trade receivables (representing 61% of market cap) which include balances older than three years without adequate credit loss provisions. Additionally, the auditor highlighted ₹2.11 Cr in old supplier advances and ₹1.49 Cr in slow-moving inventory that lack impairment assessments.
- Consolidated revenue rose to ₹22.20 Cr in Q1 FY27 from ₹16.88 Cr in the year-ago period.
- Reported a net profit of ₹0.30 Cr compared to a net loss of ₹1.68 Cr in Q1 FY26.
- Auditor flagged ₹4,862.30 lakhs (₹48.62 Cr) in trade receivables, some outstanding for over 3 years without ECL provisioning.
- Identified ₹149.25 lakhs in slow-moving inventory without any provision for obsolescence.
- Investment in subsidiary Sharika Spintech stands at ₹579.69 lakhs despite its accumulated losses of ₹514.68 lakhs.
Sharika Enterprises returned to a marginal net profit of ₹0.35 Cr in Q1 FY27, swinging from a loss of ₹1.60 Cr in the year-ago period. Revenue grew 31.5% YoY to ₹22.20 Cr, showing improved operational scale. However, the statutory auditor issued a qualified opinion, raising serious concerns over the recoverability of ₹48.62 Cr in trade receivables and ₹2.11 Cr in old advances, some of which are over three years old. The company's balance sheet remains under pressure with a high debt-to-equity ratio of 2.14 and significant unprovided-for slow-moving inventory.
- Revenue from operations rose to ₹22.20 Cr in Q1 FY27 from ₹16.88 Cr in Q1 FY26.
- Reported a net profit of ₹0.35 Cr for the quarter, ending a streak of quarterly losses.
- Auditor flagged ₹48.62 Cr in trade receivables (approx. 65% of TTM revenue) lacking ECL provisions.
- Identified ₹1.49 Cr in slow-moving inventory without any provision for obsolescence.
- Investment in subsidiary Sharika Spintech remains at ₹5.80 Cr despite its ₹5.15 Cr accumulated losses.
Sharika Enterprises has scheduled a board meeting for August 12, 2026, to approve its unaudited financial results for the quarter ended June 30, 2026. The company is currently in a challenging financial position, reporting a TTM net loss of ₹9 crore and a high debt-to-equity ratio of 2.14. Investors will be closely watching for any signs of operational turnaround, as the company has posted negative operating margins of -11.5% over the trailing twelve months. The market capitalization remains small at ₹78 crore, making quarterly performance highly impactful on stock volatility.
- Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results
- Company reported a net loss of ₹2.29 crore in the most recent quarter ended March 2026
- TTM revenue stands at ₹75.46 crore, nearly equal to its current market cap of ₹78 crore
- Debt levels are significant at ₹28 crore against a net worth of only ₹13 crore
- Operating profit margin (OPM) remains negative at -11.5% for the TTM period
Sharika Enterprises has issued a second corrigendum to its EGM notice for the meeting scheduled on July 17, 2026. Two non-promoter allottees, Mr. Amit Dayalji Chauhan and Mr. Mehul Suryakant Jain, have been disqualified from the proposed preferential issue due to a breach of Regulation 159(1) of SEBI (ICDR) Regulations, 2018. They are being replaced by Mr. Surendra Shashikant Parikh and Ms. Bhavna Parasmal Chordiya. This administrative update ensures the fundraise remains compliant with regulatory standards ahead of the shareholder vote.
- EGM scheduled for July 17, 2026, at 4:00 PM IST via Video Conference.
- 2 proposed non-promoter allottees disqualified for breaching SEBI (ICDR) Regulation 159(1).
- Mr. Surendra Shashikant Parikh replaces Mr. Amit Dayalji Chauhan at Sr. No. 18 of the allottee list.
- Ms. Bhavna Parasmal Chordiya replaces Mr. Mehul Suryakant Jain at Sr. No. 35 of the allottee list.
- This is the 2nd corrigendum following the initial notice dated June 23, 2026, and the 1st corrigendum dated July 13, 2026.
Sharika Enterprises is proceeding with a preferential issue to raise ₹21.71 crore by issuing approximately 1.51 crore equity shares. The board has substituted two proposed allottees who became ineligible under SEBI ICDR Regulation 159(1) after selling company shares. The issue price is set at ₹14.33 per share, which represents a significant discount to the current market price of ₹20.9. A total of 98 non-promoter investors are participating in this round.
- Total fundraise amount fixed at ₹21,70,86,305 (approx. ₹21.71 crore)
- Issuance of 1,51,49,079 equity shares at a price of ₹14.33 per share
- Substitution of 2 allottees to maintain compliance with SEBI Regulation 159(1)
- Veloce Opportunities Fund II is the largest participant with a ₹3.5 crore investment
- Total of 98 non-promoter allottees included in the revised list
Sharika Enterprises has issued a corrigendum for its July 17, 2026, EGM, detailing a ₹21.71 crore fundraise through a preferential issue of equity and warrants. The proceeds are primarily earmarked for working capital (₹7.81 cr), debt repayment (₹4.50 cr), and investments in subsidiaries (₹5.00 cr). This move will result in a significant dilution of promoter holding from 55.16% to 40.17%, while introducing institutional investors who will hold 8.4% post-issue. The company is notably addressing high-interest debt, including one loan with a 24% interest rate.
- Total fundraise of ₹21.71 Crores planned through equity shares and convertible warrants.
- Promoter group holding to decrease from 55.16% to 40.17% assuming full conversion of warrants.
- Allocation of ₹4.50 Crores for repayment of outstanding borrowings, targeting high-cost loans.
- Institutional investors (AIF/FPI) to enter the cap table with a combined 8.4% post-issue stake.
- Investment of ₹5.00 Crores into subsidiaries Sharika Spintec and Sharika Smartec for operational requirements.
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