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Awaiting price reaction for this filing.
Golden Legand Leasing & Finance reported Q1 FY26 (quarter ended June 30, 2025) revenue from operations of ₹3,595.12 lakhs, a sharp jump from ₹260.54 lakhs in Q1 FY25. Profit after tax rose to ₹491.37 lakhs compared with ₹57.50 lakhs a year earlier, translating to an EPS of ₹0.33. The company swung from a full-year FY25 loss of ₹219.95 lakhs to a strong quarterly profit. However, the statutory auditor issued a qualified conclusion, flagging three concerns: (a) income is recorded based on internal software reports and not yet reconciled with bank statements, (b) no system exists to obtain balance confirmations from parties for receivables, payables, loans and borrowings, and (c) the company has not made retrospective adjustments for prior period errors as required under Ind AS 8.
While the headline numbers look very strong, the auditor's qualifications and the unascertainable impact of unreconciled balances raise concerns about the reliability of the reported financials. Shareholders should treat the results with caution until the pending reconciliations and confirmations are completed.