Classic Leasing posts strong FY26 results but auditor flags qualified opinion

Qualified OpinionEmphasis Of MatterRevenue Growth 20pctPat Growth 25pctContingent Liabilities IncreasedNegative Operating CashflowResults View source PDF Explain this filing

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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and in line with its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Classic Leasing and Finance posted FY26 total income of Rs. 150.71 lakhs, up 70% year on year. Profit after tax jumped to Rs. 111.68 lakhs from Rs. 26.17 lakhs, with EPS at Rs. 2.22. The company raised Rs. 1,063.75 lakhs via a preferential share issue in January 2026 for working capital, turning net worth positive at Rs. 757.15 lakhs. However, the auditor issued a qualified opinion, flagging inability to value certain investments and non-provisioning of a Rs. 316.31 crore contingent liability tied to a corporate guarantee given for Kohinoor Steel, which is under insolvency proceedings.

Likely market impact

Strong profit growth is positive, but the qualified auditor opinion and Rs. 316.31 crore unprovided contingent liability raise serious risk concerns.