Name: Sparc Elextrex Limited
Old Name: Sparc Systems Limited
Market Cap: 15 Cr
What does company do: Dealing in Software and Hardware Solutions
Listed on: BSE [Link]
Reason for Pitch: Company entered in an agreement with Hyundai recently [Link] Starting this thread to keep track and maybe, someone would voluntarily jump in to help.
Name: Mr. Shobith Ganesh Hegde (Son of Mrs. Shobha Anant Hegde - Promoter)
Age: 40 years (Appointed from 19.10.2021)
Education: BBA from University of Greenwich (UK) and MBA from University of Kingston (UK)
Remuneration: Rs. 50,000/- per month
- Worked in Punj Lloyd Limited and in EPC as Senior Manager in-charge of New
Projects from October 2015 till 2019.
- Has undertaken multiple defense projects (ss from AR below)
Mr. Hegde is also a director in the following companies:
- Electrex International Pvt Ltd
- Electrex Power Tools Pvt Ltd
- Anshoit Engineers Pvt Ltd
- Mount Abu Holdings Pvt Limited
Electrex International Private Limited March 2011 – August 2015:
- Worked as the head of Marketing. Implemented procurement strategies & policies from China and Taiwan
About CompanySparc Systems Limited was engaged in the business of Software and Hardware Electronic Security Solutions. The Company was founded on September 14, 1989 and had its IPO in November, 1995.
In FY22, the Company changed its line of business from dealing in Software and Hardware Electronic Security Solutions i.e. office automation tools to Manufacturing of electric motors, generators and transformers. The Company changed its name from “Sparc Systems Limited” to “Sparc Electrex Limited”.
The said change of name was approved by shareholders on November 29, 2021. The change of name of the Company has been approved by the Registrar of Companies vide a fresh certificate of incorporation dated January 13, 2022.
- In FY22, the company has provided short term loans to AVK ISPAT Private Limited
During the year under review Ms. Punit Neb has resigned from the post of Chief Financial Officer of the Company w.e.f. 31st May, 2021 and on her place based on recommendation of N&R and Audit Committee, the Board has appointed Ms. Kajal Sampat as Chief Financial Officer of the Company w.e.f. 08th June, 2021. Further Ms. Punit Neb has also stepped down from the position of Whole Time Director w.e.f. May 31, 2021 and continued to serve the Company as the Non-Executive Non Independent Director till November 20, 2021
Further during the year Mr. Jude D’Souza has resigned from the designation of Managing Director of the Company w.e.f. November 20, 2021 and the Board based on the recommendation of N&R Committee has appointed Mr. Shobith G. Hegde as Whole Time Director of the Company w.e.f. October 19, 2021.
Ms. Kajal Sampat has resigned from the post of Chief Financial Officer of the Company w.e.f. December 21, 2021 and based on the recommendation of N&R and Audit Committee, the Board has deputed Mr. Shobith G. Hegde also as a Chief Financial Officer of the Company w.e.f. January 20, 2022.
Details of the Compliance Officer for investor grievancesName: Tejashri Kulkarni
ResultFY23 Result: https://www.bseindia.com/xml-data/corpfiling/AttachHis/20c2af38-4e90-4891-b26d-ad46b1db5485.pdf
ShareholdingAs on 31st March 2022, the holdings were distributed as:
* Promoters: 13,25,738 shares - 27.12%
* Institutional Investors: 40,400 shares - 0.83%
Note:As I add new content, previous content is getting removed sometimes. I'll add more in the comments. Not sure what is going wrong.
Disclaimer: I am not a SEBI registered advisor or consultant or anything similar. This is not a BUY/SELL recommendation. Please do your own diligence or consult your financial advisor. Till 25th August, I do not have shares of Sparc Electrex but I may BUY/SELL anything at any time without informing anyone - which is applicable to future investments as well.
Further, this is a very small market cap company where finding data is extremely difficult. I am sharing data that I can find but I can be wrong at times too - so once again please do your own research…