Sharika Enterprises Limited has announced its un-audited consolidated financial results for the quarter and half year ended September 30, 2026. The company reported a total income of ₹4,393.33 lakhs for the quarter, with a net profit of ₹104.52 lakhs. The report also includes a Limited Review Report from the statutory auditor, highlighting certain qualifications related to inventory and balance reconciliations.
Sharika Enterprises Q2 FY27 Financial Highlights
Sharika Enterprises Limited has disclosed its un-audited consolidated financial results for the quarter and half year ended September 30, 2026. The company’s Board of Directors considered and approved these results, along with the Limited Review Report from its Statutory Auditor.
Key Financial Figures
For the quarter ended September 30, 2026, Sharika Enterprises reported:
- Turnover / Total Income: ₹4,393.33 lakhs
- Total Expenditure: ₹4,288.81 lakhs
- Net Profit/(Loss): ₹104.52 lakhs
- Earnings Per Share: ₹0.14
- Total Assets: ₹11,553.01 lakhs
- Total Liabilities: ₹8,272.28 lakhs
- Net Worth: ₹3,280.73 lakhs
The half-yearly figures for the period ended September 30, 2026, also show a positive net profit of ₹44.98 lakhs.
Audit Qualifications and Management Remarks
The independent auditors, R D V & Associates, have issued a qualified opinion on the consolidated financial results. Key areas of qualification include:
- Qualification 1 (Note No. 7): Identified slow/non-moving inventories amounting to ₹145.69 lakhs. The management has not assessed inventory aging or net realizable value, and therefore, the appropriateness of the carrying value and potential impact on profit could not be commented upon.
- Qualification 2 (Note No. 8): Concerns non-reconciliation of certain balances and lack of party-wise details for advances to suppliers aggregating to ₹240.53 lakhs. Uncertainty regarding recoverability exists as some advances are old and have shown no significant movement.
- Qualification 3 (Note No. 8): Relates to non-reconciliation of balances and lack of party-wise details for trade receivables amounting to ₹4,793.90 lakhs, including old outstanding balances. The management has not computed Expected Credit Losses (ECL), preventing comments on the ECL provision or the carrying value of trade receivables.
Management has provided remarks for each qualification, asserting that inventory is specialized, advances are expected to be recoverable against future purchases, and trade receivables primarily consist of AMC receivables and retention money, considered recoverable and certain in nature.
Statement of Deviation or Variation in Utilization of Funds
A statement detailing the deviation or variation in the utilization of funds raised through a preferential issue of equity shares and share warrants as of September 30, 2026, indicates no deviation. Funds raised amounted to ₹1847.88 Lakhs, with amounts allocated to paying off high-interest debt, working capital, and partial funding of capital and revenue expenditure through investment. The funds utilized were ₹0 for all original objects as of the reporting date.
Source: BSE
