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Golden Legand Leasing & Finance Ltd reported audited results for FY25 with total income of Rs 934.38 lakhs, a sharp rise from Rs 6.46 lakhs in FY24. However, the company continues to post losses, with a net loss of Rs 219.95 lakhs after tax for FY25, though narrower than the Rs 320.02 lakhs loss in FY24. Total expenses stood at Rs 1,196.26 lakhs, driven mainly by employee costs, depreciation, and other expenses. Earnings per share was Rs (1.48) for FY25 versus Rs (2.15) in the previous year. The statutory auditor, M/s Sunil Vankawala & Associates, issued a qualified opinion flagging two issues: (a) the absence of a system for obtaining periodic balance confirmations from parties, and (b) the company not restating prior period errors as required under Ind AS 8. The company also disclosed a frozen bank account of around Rs 36.17 lakhs due to regulatory/legal restrictions, and its other equity remains negative at Rs (338.99) lakhs.
For shareholders, the key concerns are the continued losses, the auditor's qualified opinion on internal controls and balance confirmations, and the negative reserves — all of which raise governance and going-concern red flags. On the positive side, revenue has scaled up sharply, the loss has narrowed, and operating cash flow turned positive, but the audit qualifications and frozen funds could weigh on investor confidence and the stock price.