Mumbai, India | February 4, 2025 – Sharda Motor Industries Ltd. (NSE: SHARDAMOTR, BSE: 535602) has announced its unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2024. The company also disclosed key leadership changes, including the retirement of its Group CFO and the appointment of a new CFO.
Financial Performance Highlights (Q3 FY2024-25)
Standalone Financial Performance (₹ in Lakhs)
| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 | FY24 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 68,999.47 | 71,129.05 | 68,911.64 | 2,08,671.69 | 2,10,586.85 | 2,80,926.24 |
| Other Income | 2,087.89 | 1,538.95 | 2,173.68 | 5,589.49 | 5,894.23 | 8,785.41 |
| Total Income | 71,087.36 | 72,668.00 | 71,085.32 | 2,14,261.18 | 2,16,481.08 | 2,89,711.65 |
| Profit Before Tax | 10,076.75 | 10,611.84 | 10,248.35 | 30,933.40 | 28,246.56 | 39,921.79 |
| Net Profit | 7,543.50 | 7,871.37 | 7,597.17 | 23,097.66 | 21,129.34 | 29,959.09 |
| Earnings Per Share (₹) | Basic: 25.63 | Diluted: 25.63 | Basic: 27.39 | Diluted: 27.39 | Basic: 25.55 | Diluted: 25.55 |
- Revenue Performance: The company reported revenue from operations of ₹68,999.47 lakh in Q3 FY25, reflecting a stable performance compared to the previous quarter.
- Profitability: Net profit stood at ₹7,543.50 lakh, showing a marginal decline from Q2 FY25 but a consistent YoY performance.
- Earnings Per Share (EPS): The company reported a basic and diluted EPS of ₹25.63, slightly lower than the previous quarter.
Key Corporate Announcements
- Leadership Changes
- Retirement of Group CFO: Mr. Puru Aggarwal, the President & Group Chief Financial Officer (CFO), will retire on March 31, 2025 after reaching the age of superannuation.
- Appointment of New CFO: The Board has appointed Mr. Ghan Shyam Dass, currently serving as Chief Commercial Officer, as the new CFO & Key Managerial Personnel (KMP) effective April 1, 2025. Mr. Dass is a Chartered Accountant with 23+ years of experience in M&A, business strategy, corporate finance, and risk management.
- Re-appointment of Independent Director: Mrs. Sarita Dhuper has been reappointed as Non-Executive Independent Director for a second term of five years from June 28, 2025, to June 27, 2030, subject to shareholder approval.
- Compliance Officer Promotion: Ms. Iti Goyal has been re-designated as Key Managerial Personnel (KMP) effective February 4, 2025.
- Dividend & Buyback Updates
- The company paid a final dividend of ₹9.92 per equity share for FY2023-24, amounting to ₹2,847.42 lakh.
- A buyback of 10,27,777 equity shares was completed at ₹1,800 per share, totaling ₹18,499.99 lakh. The shares were extinguished on June 28, 2024.
- Regulatory Matters
- The company continues to comply with the SEBI Listing Obligations and has addressed the Income Tax Department's inquiries following a search operation in May 2023. Management states that no material adjustments are required in the financial results.
Strategic Outlook
- Stable Revenue Growth: While the company saw a marginal dip in revenue sequentially, it remains on track for strong full-year performance.
- Leadership Transition: The CFO transition is expected to be smooth, given Mr. Dass’s prior experience in business strategy and finance.
- Industry Prospects: With continued demand in the auto component segment, the company is optimistic about its growth prospects.
Stock Market Implication
- Investors may react to the stable revenue performance and leadership changes.
- The buyback and dividend payout signal strong financial health, which could positively impact market sentiment.
Conclusion Sharda Motor Industries Ltd. remains on a strong financial footing with steady revenue and profits. The company’s leadership changes, dividend payout, and buyback reinforce its commitment to shareholder value, while management remains optimistic about continued growth in the auto component sector.