Appointment of Secretarial Auditor.
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Classic Leasing & Finance Ltd held a board meeting on 12th August 2025 and approved several items. The key one is the appointment of Ms. Twinkle Agarwal, a Practicing Company Secretary, as the Secretarial Auditor for a period of five financial years, subject to member approval. The board also approved unaudited financial results for Q1 FY26 (quarter ended 30th June 2025), where total income rose sharply to Rs. 26.57 lakhs from Rs. 13.42 lakhs in Q1 FY25, and profit after tax nearly tripled to Rs. 16.99 lakhs (from Rs. 6.22 lakhs). EPS stood at Rs. 0.57 versus Rs. 0.21 earlier. The statutory auditor issued a qualified opinion on the results. Additionally, Mr. Chandrasekhar Sony (DIN: 06431942), who retires by rotation, was recommended for re-appointment, and the 42nd AGM was fixed for 20th September 2025.
For shareholders, the appointment of a Secretarial Auditor is a routine regulatory requirement under company law and not material to stock price. Q1 results show strong year-on-year growth in profit, but the company's net worth remains deeply negative (Rs. –401.28 lakhs) and total debt exceeds total assets, indicating continued balance sheet stress despite improved quarterly earnings.