Annual Report for the FY 2022-23
Awaiting price reaction for this filing.
Leel Electricals Limited (formerly Lloyd Electric & Engineering Limited, BSE: 517518, NSE: LEEL) has announced that its 36th AGM will be held on Monday, December 29, 2025 at 3:00 PM IST via video conferencing. The meeting will consider adopting the audited financial statements for FY 2022-23. The remote e-voting window is December 26-28, 2025, with a cut-off date of December 23, 2025. The company was acquired as a going concern by Krishna Ventures Limited (KVL) through an NCLT order dated March 21, 2024, following prior CIRP (March 2020) and liquidation (December 2021) proceedings. New management took control in July 2024 and is undertaking a capital restructuring: 94.97% of shares (1,02,60,000 equity shares) to promoter/promoter group and 5% (5,43,011 shares in 43:1 ratio) to eligible public shareholders. The new management has explicitly disclaimed responsibility for historical financial data of the FY 2022-23 period, stating it has not verified these figures.
For shareholders, this is a routine AGM notice to regularize a delayed filing for FY 2022-23 from the pre-acquisition era, so it has limited direct impact on stock price. However, the ongoing capital restructuring and pending listing of new shares are material events that will substantially reshape the shareholding pattern and dilute existing public shareholders.