PFA
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Golden Legand Leasing & Finance reported a sharp jump in Q1FY26 (quarter ended June 30, 2025) numbers. Revenue from Operations surged to Rs 3,595.12 lakh from Rs 260.54 lakh in the same quarter last year, while Profit After Tax rose to Rs 491.37 lakh from Rs 57.50 lakh. Total expenses stood at Rs 2,909.63 lakh, yielding a pre-tax profit of Rs 685.49 lakh. However, the statutory auditor (Sunil Vankawala & Associates) issued a Qualified Conclusion, flagging that income is based on internal software reports not yet reconciled with bank statements, no system exists to periodically confirm balances (receivables, payables, loans, borrowings, bank balances), and prior period errors were not retrospectively adjusted in line with Ind AS 8. Separately, the Board approved the appointment of H. Maheshwari & Associates as Secretarial Auditor for 5 years, shifted the registered office from Khar West (Mumbai) to Vashi (Navi Mumbai), and revised the remuneration of MD & Chairperson Divya Singh Kushwaha effective September 1, 2025.
The headline growth looks very strong, but the auditor's qualified opinion — especially the inability to reconcile income with bank statements and lack of balance confirmations — raises reliability concerns that investors should weigh before taking the numbers at face value. The corporate actions (auditor appointment, office shift, MD pay hike) are routine but require shareholder approval at the upcoming AGM.