Audited financial results for the quarter and financial year ended 31.03.2026
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Classic Leasing & Finance Ltd reported FY2026 revenue of Rs. 150.71 Lakhs, up 70.2% from Rs. 88.57 Lakhs in FY2025. Net profit after tax surged to Rs. 111.68 Lakhs from Rs. 26.17 Lakhs, representing 326.7% growth. However, auditors issued a qualified opinion citing two key concerns: (1) the company failed to provide provision for a contingent liability of Rs. 316.31 crore for corporate guarantee given to Kohinoor Steel Private Limited (under CIRP process), and (2) inability to determine fair value of investments due to lack of reliable data from the investee company. The company raised Rs. 1063.75 Lakhs via preferential share issue in January 2026, which helped flip equity from negative Rs. 418.28 Lakhs to positive Rs. 757.15 Lakhs. Borrowings also reduced from Rs. 981.25 Lakhs to Rs. 747.80 Lakhs.
The qualified opinion with a massive undisclosed contingent liability of Rs. 316.31 crore poses significant risk to shareholders. If Kohinoor Steel's guarantee is invoked, it could wipe out the company's equity and threaten going concern. While strong revenue and PAT growth are positive, the auditor's inability to assess the full impact raises material uncertainty.