Audited Financial Results (Standalone and Consolidated) for the quarter and year ended on March 31, 2026.
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Ekam Leasing & Finance Company reported a net loss of ₹232.28 Lakhs for FY2026, more than double the previous year's loss of ₹112.80 Lakhs. Total income declined to ₹29.32 Lakhs from ₹34.67 Lakhs, while expenses surged to ₹277.75 Lakhs from ₹155.10 Lakhs. The company's equity turned negative at -₹5.69 Lakhs (from +₹226.59 Lakhs), indicating severe capital erosion. The auditor issued a Qualified Opinion citing two key issues: the company's Net Owned Fund falling below the RBI-mandated ₹5 crore minimum for NBFCs, and the Company Secretary position remaining vacant for over 6 months beyond the statutory deadline. A material uncertainty regarding going concern was highlighted. The company has filed a scheme of amalgamation with NCLT to boost NOF. Related party transactions involve loans to/from struck-off companies (NKJ Securities and Alsan Buildcon) where interest was not recognized.
The stock faces significant risk due to negative equity, regulatory threat to NBFC status, and deepening losses. Shareholders should be cautious as the company may lose its NBFC license if NOF is not restored through the proposed merger.