Annual Report for the FY 2024-25
Awaiting price reaction for this filing.
Leel Electricals Limited (formerly Lloyd Electric & Engineering Limited), a heat exchanger and HVAC manufacturer based in Greater Noida, has filed its 38th AGM notice and Annual Report for FY 2024-25. The 38th AGM is scheduled for December 29, 2025, to be held via video conferencing. Key items on the agenda include adoption of FY25 financial statements, re-appointment of statutory auditors (Vivek Mittal & Associates) for a 5-year term, and ratification of a Rs. 40 crore borrowing made for setting up a new manufacturing plant (with Rs. 50 crore total investment planned). Shareholder approval is also being sought to raise the overall borrowing limit to Rs. 100 crore. The notice discloses significant related party transactions with promoter-linked entities — Krishna Ventures Limited (~Rs. 10.18 crore in FY25) and Ashva Energy Private Limited (~Rs. 3.79 crore in FY25) — as well as further advances planned in FY26. The company emerged from NCLT-monitored corporate insolvency proceedings, with a post-acquisition restructuring referenced in the notice.
The filing is largely procedural (AGM notice + annual report), but the related party transactions with promoter entities are notable and warrant shareholder attention. The Rs. 40 crore borrowing for a new plant signals capacity expansion, though higher debt levels (up to Rs. 100 crore limit sought) could pressure balance sheet metrics. Investors should review the full financial statements and auditor's report for clarity on revenue, profitability, and any post-CIRP residual risks.