In terms of Regulation 30 and Regulation 33 of SEBI (LODR) Regulations, 2015, this is to inform that the meeting of the Board of Directors of M/s. Sparc Electrex Limited was held today ....
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Sparc Electrex's Board met on 18 February 2026 and approved unaudited standalone financial results for Q3 and 9 months ended 31 December 2025. The company posted a sharp reversal, reporting a loss of Rs. 97.30 lakhs in Q3 FY26 versus a profit of Rs. 8.02 lakhs in Q3 FY25, with revenue collapsing to Rs. 5.50 lakhs from Rs. 99.48 lakhs. For the 9-month period, losses widened to Rs. 169.20 lakhs against a profit of Rs. 12.41 lakhs last year, as revenue fell to Rs. 72.88 lakhs from Rs. 322.51 lakhs. The auditor flagged that the Income Tax Department has provisionally attached/frozen the company's bank accounts under Section 226(3) of the Income Tax Act, impacting banking operations and short-term liquidity. The Board also noted the resignation of Company Secretary & Compliance Officer Mr. Ashish Mishra, effective 24 January 2026.
Sharp revenue decline, widening losses, and the freezing of bank accounts by tax authorities raise serious concerns about the company's short-term liquidity and going concern. Shareholders should watch closely for resolution of the tax matter and replacement of the Compliance Officer, as this adds governance and operational risk on top of weak financials.