Net profit of Sharda Motor Industries declined 76.88% to Rs 6.20 crore in the quarter ended March 2020 as against Rs 26.82 crore during the previous quarter ended March 2019. Sales declined 16.85% to Rs 237.07 crore in the quarter ended March 2020 as against Rs 285.11 crore during the previous quarter ended March 2019.

For the full year,net profit declined 44.65% to Rs 52.39 crore in the year ended March 2020 as against Rs 94.66 crore during the previous year ended March 2019. Sales declined 24.29% to Rs 862.99 crore in the year ended March 2020 as against Rs 1139.87 crore during the previous year ended March 2019.

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Sharda Motor Industries will hold a meeting of the Board of Directors of the Company on 29 June 2020.

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Sharda Motor Industries has fixed 27 March 2020 as record date for determining the members of Sharda Motor Industries eligible for allotment of equity shares of NDR Auto Components pursuant to Composite Scheme of Arrangement.

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Sharda Motor Industries announced that the Hon'ble National Company Law Tribunal, New Delhi Bench on 20 February 2020 has sanctioned the Scheme of Arrangement between Sharda Motor Industries and NDR Auto Components and their respective Shareholders and Creditors.

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