Sharika Enterprises Limited has announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a net loss of ₹228.72 lakhs for the quarter, a significant shift from the profit of ₹4.23 lakhs in the same period last year. The financial statements were reviewed by the auditors, who raised concerns regarding inventory valuation, advances to suppliers, and trade receivables, leading to a qualified opinion.
Quarterly Financial Update
Sharika Enterprises Limited has disclosed its financial performance for the quarter that concluded on June 30, 2026. The company’s unaudited standalone results indicate a net loss of ₹228.72 lakhs for the period. This contrasts with the prior year’s quarter, which saw a net loss of ₹100.97 lakhs. The overall comprehensive income for the quarter also reflected a loss of ₹248.50 lakhs.
Auditor’s Qualified Opinion
The financial results have been reviewed by R D V & Associates, Chartered Accountants. In their report, the auditors expressed a qualified opinion due to several concerns, including:
- Slow/non-moving inventories amounting to ₹149.25 lakhs, for which no provision for obsolescence was made, as the management deemed the net realizable value higher than carrying cost.
- Advances to suppliers and others totaling ₹210.66 lakhs, which include old outstanding amounts with no significant movement, raising concerns about recoverability.
- Trade receivables of ₹4,862.30 lakhs, which include old outstanding balances and balances from parties with whom there have been no recent transactions. The management has not computed Expected Credit Losses (ECL) under Ind AS 109 for these.
These matters prevented the auditors from commenting on the appropriateness of inventory valuation, the extent of adjustments required for advances and receivables, and the resultant impact on profit.
Consolidated Financials
The consolidated financial results for the same quarter show a net loss of ₹224.49 lakhs. The comprehensive loss for the period stood at ₹224.49 lakhs. The auditor’s report on the consolidated results also highlighted similar concerns regarding inventory, advances, and trade receivables.
Key Financial Highlights (Standalone)
- Revenue from Operations for the quarter ended June 30, 2026, stood at ₹2,219.83 lakhs.
- Total Income was ₹2,234.87 lakhs.
- Total expenses amounted to ₹2,202.99 lakhs.
- Basic Earnings per Share (EPS) was ₹0.05.
Source: BSE
