To, The Members,
Your Directors have pleasure in presenting their 32nd Annual Report on the business and operations of M/s. Sharp Chucks and Machines Limited (hereinafter referred to as "the Company") and the accounts for the financial year ended March 31st, 2026.
1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY
During the year under review, performance of your company as under:
| Particulars | 2025-26 (In lakhs) | 2024-25 (In lakhs) |
| Total Revenue | 27,504.41 | 24,622.52 |
| Finance Charges | 1,310.59 | 1,231.96 |
| Provision for Depreciation | 795.14 | 696.83 |
| Profit Before Exceptional & Extraordinary items & tax | 1,333.96 | 1,030.95 |
| Net Profit Before Tax | 1,333.96 | 1,030.95 |
| Tax Expense | 414.96 | 236.57 |
| Net Profit After Tax | 919.01 | 794.38 |
| Balance of Profit brought forward | 919.01 | 794.38 |
| Proposed Dividend on Equity Shares | 0 | 0 |
| Tax on proposed Dividend | 0 | 0 |
The Company achieved total revenue of Rs. 27,504.41 lakhs in the reporting period as compared to Rs. 24,622.52 lakhs in the previous year, whereas the Company achieved profit (after tax) of Rs. 919.01 lakhs as compared to Rs. 794.38 lakhs in the previous year.
NET WORTH
During the financial year under review, the Companys Net Worth stood at Rs. 7923.77 Lacs compared to the previous financial year net worth of Rs. 10678.79 Lacs/-.
EARNING PER SHARE
The Earning Per Share of the Company stood to Rs. 7.09/- for the financial year ended 31st March, 2026 as compared to Rs. 7.03/- for the financial year ended 31st March, 2025.
2. DIVIDEND
With a view to provide a cushion for any financial contingencies in the future and to strengthen the financial position of the Company, your Directors have decided not to recommend any dividend for the period under review.
3. RESERVES
Amount of Rs. 25,00,000 is transferred apart from the profits for the current year to the Balance Sheet during the financial year ended March 31, 2026.
4. CHANGE IN THE NATURE OF BUSINESS, IF ANY
No Change in the nature of the business of the Company done during the year.
Listing Information
The Equity Shares of the Company are continued to be listed with NSE EMERGE Platform and in dematerialized form. The ISIN No. of the Company is INE460Q01014.
Statement Pursuant To Listing Agreement
The Company Equity Shares are listed on the National Stock Exchange of India Limited (NSE-Emerge Platform). The Annual Listing fees for the year 2025-26 has been paid.
5. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT.
No material changes and commitments affecting the financial position of the Company have occurred between the end of the financial year of the Company to which the financial statements relate and the date of this report.
6. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE.
No significant and material orders were passed by the regulators or courts or tribunals which affect the going concern status and future operation of the Company.
7. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS.
The Company has a proper and adequate system of internal controls to ensure that all assets are safeguarded and protected against loss from unauthorized use. The Companys internal controls are supplemented by an extensive programme of internal audit, review by management and documented policies, systems support, guidelines and procedures. The internal control is designed to ensure that financial and other records are reliable for preparing financial information and other data.
8. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES
The Company does not have any Subsidiary, Joint venture or Associate company.
| (Formerly SHARP CHUCKS AND MACHINES PVT. LTD.) |
| Regd. Office: A-12, Industrial Development Colony, Jalandhar - 144 012 (Pb.) |
| E-mail: dispatch@sharpchucks.com, accounts@sharpchucks.com |
| GSTIN: 03AACCS0690M1ZB \ CIN: L27106PB1994PLC014701 |
| Tel. 0181-2610341, 2611763 \ Telefax: 0181-2610344 \ Website: www.sharpchucks.com |
SEPARATE SECTION CONTAINING A REPORT ON PERFORMANCE AND FINANCIAL POSITION OF EACH OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES
The Company has no subsidiary, associate or joint venture company. Hence no separate report in this context is required to be furnished by the Company.
9. PRESCRIBED DETAILS OF DEPOSITS UNDER CHAPTER V
During the year under review, your Company neither accepted any deposits nor there were any amounts outstanding at the beginning of the year which were classified as Deposits in terms of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014 and hence, the requirement for furnishing of details of deposits which are not in compliance with the Chapter V of the Companies Act, 2013 is not applicable.
Details relating to deposits, covered under chapter V of the act:
(a) accepted during the year: Not Applicable
(b) remained unpaid or unclaimed as at the end of the year: Not Applicable
(c) whether there has been any default in repayment of deposits or payment of interest thereon during the year and if so, number of such cases and the total amount involved:
i. at the beginning of the year: Not Applicable
ii. maximum during the year: Not Applicable
iii. at the end of the year: Not Applicable
(d) the details of deposits which are not in compliance with the requirements of Chapter V of the Act: Not Applicable
10. STATUTORY AUDITORS
Pursuant to the provisions of Section 139 of Companies Act, 2013 and other applicable provisions, if any of the Companies Act, 2013, M/s. VP Bhalla & Associates, (Firm Registration No. N006105) Chartered Accountants, the Statutory Auditors of the Company have been appointed until the conclusion of the Annual General Meeting to be held in the year 2029.
COMMENTS BY THE BOARD ON QUALIFICATION, RESERVATION OR ADVERSE REMARKS OR DISCLAIMER MADE BY AUDITORS IN AUDIT REPORT
There is no qualification, reservations or adverse remarks given by the Auditors which need comments by the Board. The notes to accounts referred to in Auditors Report has been discussed by the Board and are self-explanatory and therefore, in the opinion of the Directors, do not call for any further comments.
STATEMENT IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT.
During the year 2025-26, the Statutory Auditor has not reported any instances of frauds committed in the Company by its Officers or Employees to the Board of Directors, details of which need to be mentioned in this Report.
11. INTERNAL AUDITORS
As per the provisions of section 138(1) of Companies Act, 2013 and Rule 13 of Companies (Accounts) Rules, 2014; M/s. R.P. Gupta & Associates, Chartered Accountants, Jalandhar has been appointed as the Internal Auditors of the Company.
12. COST AUDITOR
As per the provisions of section 148 of the Companies Act, 2013; M/s S.K. Verma & Associates, Cost Accountants (Firm No 101072) has been appointed as the Cost Auditor for the financial year 2025-2026.
13. DISCLOSURES AS MAINTENANCE OF COST RECORDS UNDER SUB-SECTION (1) OF SECTION 148 OF THE COMPANIES ACT, 2013
The Company in compliance to section 148 of the Companies Act, 2013, maintains all the relevant cost records and accounts as relevant under the said act. M/s S.K. Verma & Associates has been appointed as the Cost Auditor of the Company for the financial year under review.
14. SECRETARIAL AUDIT REPORT
Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with Rule 9 the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Ankit Gandhi & Associates, a Peer Reviewed Company Secretary Proprietary Firm holding Certificate of Practice No 8204, Membership No: 7646 as the Secretarial Auditors of the Company to carry out Secretarial Audit for the financial year 2025-26. The Secretarial Audit report is annexed as "Annexure - C" to this Report.
15. EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE
(I) By the Auditor in his report: There are no qualifications, reservations or adverse
remarks or disclaimers.
(II) By the Internal Auditor in his Report: Not Applicable
(III) By the Secretarial Auditor in his Report: Not Applicable
16. AUDITORS REPORT
The Notes on financial statement referred to in the Auditors Report are self-explanatory and do not call for any further comments.
17. SHARE CAPITAL
AUTHORISED SHARE CAPITAL
The Authorised Share Capital of the Company is Rs. 17,50,00,000/- (Rupees Seventeen Crores Fifty Lakhs Only) divided into 1,75,00,000 (One Crore Seventy Five Lakhs) Equity Shares of Rs. 10/- (Rupees Ten Only) each.
During the financial year 2025-2026, there was no change in the Authorised Share Capital of the Company.
18. ISSUED, SUBSCRIBED AND PAID-UP SHARE CAPITAL
The Issued, Subscribed and Paid-up Share Capital of the Company is Rs. 14,49,67,920/- (Rupees Fourteen Crores Forty Nine Lakhs Sixty Seven Thousand Nine Hundred and Twenty Only) divided into 1,44,96,792 (One Crores Forty Four Lakhs Ninety Six Thousand Seven Hundred and Ninety Two Only) Equity Shares of Rs.10/- (Rupees Ten Only) each.
During the financial year 2025-2026 the Company had issued and allotted 24,12,000 Equity shares on Conversion of Equity warrants into Equity on Preferential Issue basis amounting to Rs. 2,41,20,000/-.
19. ISSUE OF EQUITY SHARES WITH DIFFERENTIAL RIGHTS
The Company has not issued any Equity Shares with differential rights during the year under review.
20. ISSUE OF SWEAT EQUITY SHARES
The Company has not issued any Sweat Equity Shares during the year under review.
21. ISSUE OF EMPLOYEE STOCK OPTIONS
The Company has not provided any Stock Option Scheme to the employees.
22. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS & DETAILS OF LAST ANNUAL GENERAL MEETING
During the year under review total 8 Meetings of the Board was held as per below mentioned dates:
| 24.05.2025 | 30.05.2025 | 14.08.2025 | 01.09.2025 | 06.09.2025 | 14.11.2025 | 17.11.2025 | 14.02.2026 | 18.02.2026 |
The gap between the Board Meetings was within the period prescribed under Companies Act, 2013 and Secretarial Standard issued by the ICSI.
| S. No. Name of Director | Designation | No. of Board Meeting eligible to attend | No. of Meetings attended | No. of Meeting in which absent |
| 1 Mr. Ajay Sikka | Managing Director | 9 | 9 | 0 |
| 2 Mrs. Gopika Sikka | Executive Director | 9 | 9 | 0 |
| 3 Mr. Rahul Sharma | Non-Executive Director | 3 | 3 | 0 |
| 4 Mr. Avinash Shripad Joshi | Non-Executive Director | 9 | 9 | 0 |
| 5 Mr. Manmohan Puri | Non-Executive Independent Director | 9 | 9 | 0 |
| 6 Mr. Suraj Singhal | Non-Executive Independent Director | 9 | 9 | 0 |
| 7 Lovansh Gupta | Independent Director | 6 | 6 | 0 |
General Meetings:
COMMITTEE(S) AND THEIR MEETINGS THEREOF:
Currently, the Board has three committees:
AUDIT COMMITTEE
The Audit Committee of the Board is responsible for oversight of the Companys financial reporting process and the disclosure of its financial information to ensure that the financial statements are correct, adequate and credible; and for reviewing the annual financial statements before submission to the Board. The Committee periodically reviews the adequacy of internal control systems.
The Committee reviews the financial and risk management policies of the Company.
During the Financial Year under review 04 (Four) meetings of the Audit Committee were convened and held.
| S. No. Name of Director | Designation | No. of Committee Meeting eligible to attend | No. of Meetings attended | No. of Meeting in which absent |
| 1 Mr. Manmohan Puri | Chairman | 4 | 4 | 0 |
| 2 Mr. Suraj Singhal | Non-Executive Independent Director | 4 | 4 | 0 |
| 3 Mr. Rahul Sharma | Non-Executive Director | 2 | 2 | 0 |
| 4 Lovansh Gupta | Non-Executive Independent Director | 2 | 2 | 0 |
RECOMMENDATIONS BY THE AUDIT COMMITTEE WHICH WERE NOT ACCEPTED BY THE BOARD ALONG WITH REASONS
All the recommendations made by the Audit Committee are accepted and implemented by the Board of Directors
NOMINATION AND REMUNERATION COMMITTEE
Pursuant to Section 178(3) of the Companies Act, 2013, the Board duly constituted Nomination and Remuneration Committee and have laid down the following criteria:
During the year under review Four meetings of the Nomination and Remuneration Committee.
| S. No. Name of Director | Designation | No. of Committee Meeting eligible to attend | No. of Meetings attended | No. of Meeting in which absent |
| 1 Mr. Manmohan Puri | Chairman-Non-Executive Independent Director | 4 | 4 | 0 |
| 2 Mr. Suraj Singhal | Non-Executive Independent Director | 4 | 4 | 0 |
| 3 Mr. Rahul Sharma | Non-Executive Director | 2 | 2 | 0 |
| 4 Lovansh Gupta | Non-Executive Independent Director | 2 | 2 | 0 |
STAKEHOLDER RELATIONSHIP COMMITTEE
The Company has duly constituted Stakeholder Relationship Committee u/s 178(5) of Companies Act, 2013 consisting of chairman who shall be non-executive and the members decided by the board.
During the year under review Two (2) meeting of the Stakeholder Relationship Committee
| S. No. Name of Director | Designation | No. of Committee Meeting eligible to attend | No. of Meetings attended | No. of Meeting in which absent |
| 1 Lovansh Gupta | Chairman Non-Executive Independent Director | 2 | 2 | 0 |
| 2 Mr. Suraj Singhal | Non-Executive Independent Director | 2 | 2 | 0 |
| 3 Mr. Manmohan Puri | Non-Executive Independent Director | 2 | 2 | 0 |
SEPARATE MEETING OF INDEPENDENT DIRECTORS
Independent Directors of the Company held their Separate meeting under Regulation 25(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Schedule IV of Companies Act, 2013 on 01.09.2025 and 14.02.2026
STATEMENT OF DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SUB-SECTION (6) & (7) OF SECTION 149
The Company does not have any independent director on the Board. Therefore, Provisions of Section 149(6) and (7) are not applicable on the Company.
23. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
The information pertaining to conservation of energy, technology absorption, Foreign exchange Earnings and outgo as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished in Annexure A and is attached to this report.
24. DIRECTORS AND CHANGE IN MANAGEMENT
Changes in Directors and Key Managerial Personnel
During the period under review, following changes has taken place :-
25. CORPORATE SOCIAL RESPONSIBILITY (CSR)
The details of the CSR has been annexed (Annexure B) to the this board report.
26. CHANGES IN SHARE CAPITAL
There were following changes made During the Financial Year 2025-26:-
Allotment of 24,12,000 Equity shares of Rs. 10/- each at a price of aggregating to Rs.
2,41,20,000/-
27. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
During the financial year under review; no Loans, Guarantees have been given by the Company and no investment have been made by the Company.
28. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
There are no materially significant related party transactions made by the Company with related parties which may have potential conflict with the interest of the Company at large. Further, details of material related party transactions as required to be provided in format of AOC-2 pursuant to clause (h) of sub-section (3) of section 134 of the Act and applicable rules of the Companies Act, 2013 form part of this report is NIL.
29. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013
Company ensures that there is a healthy and safe atmosphere for every women employee at the workplace and made the necessary policies for safe and secure environment for women employee.
As per notification dt. 31/07/2018 of the Ministry of Corporate Affairs by which amended the Companies (Accounts) Rules, 2014 issued under section 134 of the Companies Act, 2013 it is stated as under "The Company has complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013".
The following is a summary of complaints received and resolved during the reporting period (FY2025-26)
| Received | Disposed-Off | Pending (for more than 90 days) |
| NIL | NIL | NIL |
30. MATERNITY BENEFIT PROVIDED BY THE COMPANY UNDER MATERNITY BENEFIT ACT 1961
The Company has complied with the provisions of the Maternity Benefit Act, 1961, including all applicable amendments and the rules framed thereunder. The Company continues to ensure that all eligible employees are extended the benefits as prescribed under the Act.
NUMBER OF EMPLOYEES AS ON THE CLOSURE OF FINANCIAL YEAR 2025-26
| Gender | No of Employees |
| Male | 468 |
| Female | 18 |
| Transgender | 0 |
| Total | 486 |
31. COMPLIANCE WITH THE PROVISIONS OF SECRETARIAL STANDARD-1 AND SECRETARIAL STANDARD-2
The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and those systems are adequate and operating effectively.
32. MANAGERIAL REMUNERATION:
None of the employee of your Company, who was employed throughout the financial year, was in receipt of remuneration in aggregate of sixty lakh rupees or more or if employed for the part of the financial year was in receipt of remuneration of five lakh rupees or more per month.
33. CORPORATE GOVERNANCE REPORT
As per regulation 15(2) of the Listing Regulation, the Compliance with the Corporate Governance provisions shall not apply in respect of the following class of the Companies:
A. Listed entity having paid up equity share capital not exceeding Rs. 10 Crore and Net
worth not exceeding Rs. 25 Crores, as on the last day of the previous financial year.
B. Listed entity which has listed its specified securities on the SME Exchange.
Since, our Company falls in the ambit of aforesaid exemption (b); hence compliance with the provisions of Corporate Governance shall not apply to the Company and it does not form the part of the Annual Report for the financial year 2025-26.
34. MANAGEMENT DISCUSSIONS & ANALYSIS REPORT
As required under Regulation 34 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015 ("Listing Regulations") the Management Discussion and Analysis Report of the Company for the year under review is presented in a separate section forming the part of the Annual Report is attached here with as a "Annexure D".
35. EXTRACT OF ANNUAL RETURN
Pursuant to the provision of Section 92(3) of the Companies Act, 2013 read with Rule 12 (1) of the Companies (Management and Administration) Rules, 2014, the extract of annual return as on 31st March, 2026 will be available on the website of the Company i.e., at https://sharpchucks.com/
36. BOARD EVALUATION
As per provisions of Section 134(3) of the Companies Act, 2013 and Rules made thereunder, the Board of Directors has carried out an annual evaluation of its own performance, Board Committees and individual Directors.
The performance of the Board of Directors and its Committees were evaluated on various parameters such as structure, composition, experience, performance of specific duties and obligations, quality of decision making and overall effectiveness.
The performance of individual Directors was evaluated on parameters, such as meeting attendance, participation and contribution and independent judgment.
The Board members noted from time to time the suggestions/inputs of Independent Directors, Nomination Committee and Audit Committee and also discussed various initiatives to further improve the Board effectiveness.
37. RISK MANAGEMENT
Risk is an integral part of your Companys business and sound risk management is critical to the success of the organization. As a financial intermediary, your Company is exposed to risks that are particular to its lending, credit, market, currency and the environment within which it operates. During the year, the Board had developed and implemented an appropriate Risk Management Policy for identifying the element of risk which, in the opinion of the Board may threaten the existence of the Company and safeguarding the Company against those risks.
38. CODE OF CONDUCT AND ETHICS
The Board of Directors of the Company has adopted a Code of Conduct and Ethics for the Directors, Key Managerial Personnel and Senior Executives of the Company. Commitment to ethical professional conduct is a must for every employee, including Board members and senior management personnel of the Company. The Code is intended to serve as a basis for ethical decision-making in conduct of professional work. The Code of Conduct enjoins that each individual in the organization must know and respect existing laws, accept and provide appropriate professional views, and be upright in his conduct and observe corporate discipline. The duties of Directors including duties as an Independent Director as laid down in the Companies Act, 2013 also forms part of the Code of Conduct.
The Company has disclosed information about the establishment of the code on its website. All Board members and senior management personnel affirm compliance with the Code of Conduct annually and The Company has complied with the provisions relating to affirmation of Compliance as per Schedule V of SEBI (Listing Obligations and Disclosure Requirements), 2015.
32. DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES POLICIES ADOPTED
The Company has adopted various policies :-
33. REDEMPTION OF SHARES/DEBENTURES
No redemption of shares and debentures was done during the year under review. Redemption of Debentures is not applicable on the Company as the Company has not issued any debentures during the period under review.
34. APPOINTMENT OF RELATIVES OF DIRECTORS TO AN OFFICE OR PLACE OF PROFIT
No person covered under the term Relatives as per Companies Act, 2013 has been appointed to an office or place of profit.
35. DISCLOSURE OF INVESTOR EDUCATION AND PROTECTION FUND UNDER SECTION 124 (5) & 125 OF THE COMPANIES ACT, 2013.
The Company was not required to transfer any amount during the financial year 2025-2026 to the Investor Education and Protection Fund under Section 124 (5) and 125 of the Companies Act, 2013.
36. VOLUNTARY REVISION
The Company has duly complied with all the provisions of Section 129 and 134 of the Companies Act, 2013, therefore, no Voluntary revision of financial statements and Directors Report was done by the Company during the Financial Year.
37. DISCLOSURES IN RESPECT OF VOTING RIGHTS NOT EXERCISED DIRECTLY BY THE EMPLOYEES
Pursuant to the Section 67(3) of the Companies Act, 2013 read with Rule 16(4) of the Companies (Share Capital and Debentures) Rules, 2014, there are no such disclosures in respect of voting rights not exercised directly by the employees.
38. MSME COMPLIANCES
The Company complies with the requirement of submitting a half yearly return with respect to MSME dues with the Ministry of Corporate Affairs within the prescribed timelines.
39. WEB ADDRESS
Web address of the Company is https://sharpchucks.com/
40. DIRECTORS RESPONSIBILITY STATEMENT
The Directors Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, shall state that
(i) In the preparation of annual accounts, the applicable accounting standards and
guidance provided by the institute of Chartered Accountants of India had been followed and
that there are no material departures thereof;
(ii) The Directors have selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company at the end of the financial year and of
the profit and loss of the Company for that period;
(iii) The Directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the Provisions of the Companies Act, 2013 for
safeguarding the assets of the Company and for preventing and detecting frauds & other
irregularities;
(iv) The Directors have prepared the annual accounts on a going concern basis;
(v) The Directors have laid down proper internal financial controls and system which are
adequate and are operating effectively; and
(vi) The Directors have devised proper systems to ensure compliance with the provisions of
all applicable laws and that such systems were adequate and operating effectively.
41. DISQUALIFICATION OF DIRECTORS
On the basis of the written consent received from all the directors appointed in the Company, none of the director is disqualified under the provisions as mentioned in Section 164 (2) of the Companies Act, 2013.
42. FOREIGN DIRECT INVESTMENT
The Company has not received any funds by way of Foreign Direct Investment (FDI) in capital instruments during the year under review.
43. DETAILS OF APPLICATION / ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016
Neither any application was made nor any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the financial year 2025-26.
44. DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF
As Company has not done any one time settlement during the year under review hence no disclosure is required.
45. ACKNOWLEDGEMENTS
Your Directors wishes to place on record its sincere thanks to all the Customers, Suppliers, Bankers and Central and State Government Authorities for extending support to your Company. The Board also places on record its sincere appreciation of the contribution made by all the stakeholders for placing their faith and trust on the Board.
| FOR AND ON BEHALF OF BOARD OF DIRECTORS OF SHARP CHUCKS & MACHINES LIMITED |
| SD/- MR. AJAY SIKKA MANAGING DIRECTOR DIN: 00665858 |
| SD/- MS. GOPIKA SIKKA WHOLE-TIME DIRECTOR DIN: 00665904 |
| DATE: 07.09.2026 PLACE: JALANDHAR |
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