Sharp India Ltd — Board Meeting, 08-08-2025: Board Meeting

SHARP

SHARP INDIA LIMITED Registered Office & Factory

Gat.no. 686/4, Koregaon Bhima, Tal. Shirur District, Pune Pin: 412 216

Phones : (02137) 670000/01 Website: www sharpindialimited.com

Email ID: secretarial @sil.sharp-world.com CIN' :L136750MH1985PLC036759

To,

Corporate Relationship Dept,

BSE Limited

25 Floor, P J Towers, Dalal Street,

Mumbai_400001

Company Scrip Code: 523449

Dear Sir,

Sub: Outcome of the Board meeting under regulation 30 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015.

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure

Requirements) Regulations, 2015, we wish to inform that Board of Directors, in its today’s meeting held

on Friday, 8th August 2025 considered and approved the Unaudited Financial Results of the Company for

the quarter ended on 30th June 2025.

Accordingly in terms of regulation 33 of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, we enclose herewith —

Date: 08/08/2025

1. Statutory Auditor’s Limited Review Report on the Unaudited financial Results for the quarter

ended 30" June 2025.

2. Unaudited financial results for the quarter ended 30" June 2025.

3. A Statement of Impact of Audit qualification for Unaudited financial results for the quarter ended

30t June 2025.

The meeting of Board of Directors commenced at 1:00 P.M. and concluded at 1:45 P.M.

Kindly request to take the submission on record.

Thanking you.

Yours faithfully,

For Sharp India Limited

Chandranil Belvalkar

Company Secretary

Membership No. A24015

Encl: a/a

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G. D. Apte & Co.

Chartered Accountants

Independent Auditor’s Review Report on Unaudited Quarterly Financial Results of Sharp India

Limited for the quarter ended on June 30, 2025, pursuant to Regulation 33 of the Securities Exchange

Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

The Board of Directors

Sharp India Limited

1. We have reviewed the accompanying statement of Unaudited Financial Results of Sharp India

Limited (the “company”) for the quarter ended June 30, 2025 (the “Statement”) attached

herewith, being submitted by the Company pursuant to the requirements of Regulation 33

of the Securities Exchange Board of India (“SEBI”) (Listing Obligations and Disclosure

Requirements) Regulations, 2015, as amended (the “Listing Regulations”).

2. This statement, which is the responsibility of the Company’s Management and approved by

the Company’s Board of Directors, has been prepared in accordance with the recognition and

measurement principles laid down in Indian Accounting Standard 34 ‘Interim Financial

Reporting’ (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013 (the “Act”)

as amended, read with relevant rules issued thereunder and other accounting principles

generally accepted in India, and in compliance with the presentation and disclosure

requirement under Regulation 33 of the Listing Regulations. Our responsibility is to express a

conclusion on the statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review

Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the

Independent Auditor of the Entity,” issued by the Institute of Chartered Accountants of India

(‘the ICAI"). This standard requires that we plan and perform the review to obtain moderate

assurance as to whether the statement is free of material misstatement. A review of interim

financial information consists of making inquiries, primarily of company’s personnel

responsible for financial and accounting matters and applying analytical and other review

procedures. A review is substantially less in scope than an audit conducted in accordance with

Standards on Audiling specified under sectlon 143(10) of the Act and consequently does not

enable us to obtain assurance that we would become aware of all significant matters that

might be identified in an audit. Accordingly, we do not express an audit opinion.

Basis for qualified conclusion

4. We draw your attention to Note No. 4 to the Unaudited financial results which states that the

Company has ceased production and revenue operations from the financial year ended March

31, 2016 and incurred Net Loss of Rs. 517.19 Lakhs for the quarter and accumulated losses

aggregate to Rs. 17,174.95 Lakhs as of June 30, 2025. There is no production of LED TVs from

April, 2015 and of Air Conditioners since June, 2015 onwards in the absence of any orders.

However, the managemenl considers the going concern assumption as appropriate in view of

continued financial and operational support from holding company.

Significant time has elapsed after cessation of the production activity and in the absence of

Board approved husiness plan and scheme of revival, the impact on the financial results which

have been prepared by the management under going concern assumption, cannot be,

ascertained.

—_— — — — — Pune Office: GDA Ilouse, Plot No.85, Right Bhusari Culuny, Paud Ruad, Kulhirud, Pune - 411 038,

Phone - 020 - 6680 7200, Emall - audit@gdaca.com Mumbai

Office: Neelkanth Business Park, 5 Floor, Office No. D 509, Nathani Road, Vidya Vihar (west), Mumbai - 400086

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G. D. Apte & Co.

Chartered Accountants

Qualified conclusion:

5. Based on our review conducted as above, except for the effects of the matters described in

paragraph 4 above, nothing has come to our attention that causes us to believe that the

accompanying statement of unaudited financial results prepared in accordance with the

recognition and measurement principles laid down in the aforesaid Ind AS 34 specified under

Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued

thereunder and other accounting principles generally accepted in India, has not disclosed the

information required to be disclosed in terms of the Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it

is to be disclosed, or that it contains any material misstatement.

For, G. D. Apte & Co.

Chartered Accountants

Firm Registration Numbgf: 100515W

UDIN: 25103483BMNA 52

S. B. Rashinkar

Partner

Membership Number: 103483

Pune

August 8, 2025

RN EES——————.

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038. Phone ~ 020 - 6680 7200, Email - m

Mumbai Office: Neelkanth Business Park, 5 Floor, Office No. D 509, Nathani Road, Vidya Vihar (west), Mumbai - 400086

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SHARP INDIA LIMITED REGISTERED OFFICE : GAT NO. 686/4, KOREGAON BHIMA.

TALUKA - SHIRUR, DIST. PUNE - 412 216 hone No. 02137- : rpindialimi

CIN: L36759MH1985PLCO36759 mall i il sharp world.

STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2025

%, In fakhs sr. Particulars 3 Months ended | 3 months ended | Corresponding 3| Year ended

No. June30,2025 | March31,2025 | monthsended | March,31, 2025

June 30,2024

{Refer Note 6) {Refer Note 6) {Refer Note 6) | (Refer Note 6)

Unaudited Audited Unaudited Audited 1[Revenue from operations = = = 5

11| Other income (net) 125 124 048 363

| Total Income {1+11) 125 124 048 363

Iv|Expenses

2) Employee benefit expense 124.97 10887 14631 52881

b) Depreciation, amortisation and impairment expense 415 422 427 17.21

<) Other expenses 6372 49.05 79.90 28850 d) Finance costs 325.60 296.23 25434 1,097.82

Total expenses (IV) 518.44 458.37 484.82 1,99234

V|Loss before tax (I1-1V) (517.19) (457.13) (a84.30) (1,928.71)|

VI| Tax expense

(1) Current tax - - . -

(2) Deferred tax

Vil|Loss for the period (V-Vi) (517.19) (457.13) (484.30) (1,928.71)]

Vill| Other comprehensive income (net of tax) - - -

1X[Total comprehensive income for the period (VII+Vill) (517.19)| (457.13) (484.33) (1,928.71)

X|Paid up equity share capital 2,598.40 2,594.40 2,594.00 2,590.40 (Face Value per share Rs.10/- each)

Xi[Loss per share (Rs.10/- each)

Basic and diluted (Not annualized) (1.99) (1.76) (1.87) (7.43)

See accompanying notes to the financial results

Notes :-

1) The above unaudited financial resuits have been reviewed by the Audit Committee and have been approved by the Board of Directors at

meeting held on August 8, 2025.

2) The unaudited financial resuits have been prepared in accordance with the Companies {indian Accounting Standards) Rules, 2015 (ind AS)

prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.

3) The Company operates in only one segment i.e. ‘consumer electronics’.

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SHARP INDIA LIMITED REGISTERED OFFICE : GAT NO. 686/4, KOREGAON BHIMA

TALUKA - SHIRUR, DIST. PUNE - 412 216

rpindialimit CIN: L36759MHIOBSPLC036759

Email id : secretarial@sil.sharp-world.com STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2025

4) During the quarter ended on June 30, 2025, the Company incurred a loss of Rs. 517.19 Lakhs. The accumulated losses of the Company as at June 30, 2025 are Rs. 17,174.95

Lakhs. There is no production of LED TVs from April, 2015 and of Air Canditioners since June, 2015 onwards in the

absence of any orders. However, the Company continues to receive financial and operational support from Sharp Corporation, Japan, the,

majority shareholder and hoiding company and as at June 30, 2025, the Company has received a support letter from Sharp Corporation,

Japan for financial and operational support until June 30, 2026. Based on this continued suppart from the holding company, the management|

is of the opinion that the Company will be able to continue as 3 going cancern. Nevertheless, the recognition and measurement of assets has

been considered at cost In case of Freehold Land and that in case of other assets, at lower of their carrying value or net realizable value.

Therefore in the opinion of the management, no further material adjustments would be required if going concern assumption is not

considered as appropriate.

5) The Company had executed Memorandum of Settlement dated 1st August 2014 between the Company and Kalyani Sharp Employees Union

/s 2 {p) read with section 18 (1) of the Industrial Disputes Act, 1947 and under Rule 62 of the Industrial Disputes (Bombay) Rules, 1957. Said

settlement was effective from 1.09.2012 up to 31.03.2016. Further as per clause 53 of said settlement, the settlement shall further continue

to remain in force and binding thereafter, unless and until amended or superseded by any other subsequent settlement as per the provisions of the Industrial Disputes Act, 1947. Accordingly, the Company

continues to pay the salaries and various allowances to the employees as per

the terms of said Memorandum of Settlement.

6) The figures for the quarter ended March 31, 2025 are the balancing figures between the audited figures in respect of the financial year ended March

31, 2025 and the published unaudited year to date figures up o the third quarter of the previous financial year which were sublected

to limited review by the statutory auditors.

7) Figures of the previous year/ period have been regrouped/rearranged wherever consldered necessary.

For Sharp fgg Lim)

Place : Pune ‘Mahaging Director

Date: August 8, 2025 DIN : 08363458

NG

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Statement on Impact of Qualified Conclusion for the Unaudited Financial Results for the quarter

ended June 30, 2025.

[See Regulation 33 of the SEBI (LODR) {Amendment) Regulations, 2016]

(Rs. in Lakhs)

Unaudited ~ Flgures (85| ) yisioq Figures (audited

Sl o reported before adjusting for : I Particulars L o figures after adjusting for

No. qualifications) = qualifications)

1. | Turnover / Total Income 125

[ (including Other Income)

2 | Total Expenditure (518.44) | Based on prima facie

3 | Net Profit/(Loss) ____(517.19) | assessment no material

| 4 | Earnings Per Share (in Rs.) i ~(1.99) | impact as the values of assets

S | Total Assets 340.01 | have been considered at cost

6 | Total Liabilities (12,627.89) | in case of Freehold Land and

7 | Net Worth (12,287.88) that in case of other assets, at

|8 | Any other financial item(s) | lower of their carrying value

| or net realizable value and

- Current Borrowings & Other 12,426,21 | the liabilities are close to their

Current Liabilities fair vaJAef, y

1l | Qualified conclusion (each qualified conclusion separately):

holding company.

prepared by the management under going concern assumption, cannot be ascertained.

b. | Type of Qualified Conclusion:

| Qualified Conclusion on the Unaudited Financial Results for the quarter ended June 30, 2025

a. | We draw your attention to Note No. 4 to the unaudited financial results which states that the Company

has ceased production and revenue operations from the financial year ended March 31, 2016 and

incurred Net Loss of Rs. 517.19 Lakhs for the quarter and accumulated losses aggregate to Rs. 17,174.95

Lakhs as of June 30, 2025. There is no production of LED TVs from April 2015 and of Air Conditioners

since June 2015 onwards in the absence of any orders. However, the management considers the going

concern assumption as appropriate in view of continued financial and operational support from the

Significant time has elapsed after cessation of the production activity and in the absence of Board

approved business plan and scheme of revival, the impact on the financial results which have been

c. | Frequency of qualification:

Seventeenth Time

e. | For Qualified conclusion{s) where the impact is not quantified by the auditor:

i) Management's estimation on the impact of qualified conclusion:

orders.

During the quarter ended on June 30, 2025, the Company incurred a loss of Rs, 517.19 Lakhs. The

accumulated losses of the Company as at June 30, 2025 are Rs. 17,174.95 Lakhs. There is no production

of LED TVs from April, 2015 and of Air Conditioners since June, 2015 onwards in the absence of any

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However, the Company continues to receive financial and operaticnal support from Sharp Corporation,

Japan, the majority shareholder and holding company and as at June 30, 2025, the Company has

received a support letter from Sharp Corporation, Japan for financial and operational support until June

30, 2026. Based on this continued support from the holding company, the management is of the opinion

that the Company will be able to continue as a going concern. Nevertheless, the recognition and

measurement of assets has been considered at cost in case of Freehold Land and that in case of other

assets, at lower of their carrying value or net realizable value. Therefore, in the opinion of the

management, no further material adjustments would be required if going concern assumption is not

considered as appropriate,

i) If management is unable to estimate the impact, reasons for the same:

Management's estimation on the impact of qualified conclusion:

As mentioned in |l e (i) above

iii) Auditors Comments on (i) or (i) above:

Refer qualified conclusion above

Signatories

: il Ywd

Makarand Date Jaideep Palsule Abhijeet Bhagwat

{Managing Director) (Chief Financial Officer) (Audit Committee Chairman)

DIN: 08363458 PAN: ABEPP3250A DIN: 01981922

Place: Pune Place: Pune Place: Pune

Date: 08/08/2025 Date: 08/08/2025 Date: 08/08/2025

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AUDITORS

Refer our Report dated August 8, 2025, on Unaudited Financial Results of the company for the

quarter ended June 30, 2025.

For G.D. Apte & Co.,

Chartered Accountants

Firm Registration No.

"

S.B. Rashinkar

Membership Number: 103483

Place: Pune

Date: August 8, 2025

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