Corrigendum to outcome of Board Meeting held on July 11, 2025 with respect to unsigned cover letter for the said outcome was inadvertently submitted with BSE ltd.
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Awaiting price reaction for this filing.
Jagsonpal Finance & Leasing has filed a corrigendum to its July 11, 2025 board meeting outcome, submitting a signed copy of the cover letter that was originally filed unsigned. The board had approved Q1 FY26 unaudited results, reporting revenue from operations of about ₹12 lakh but total expenses of ₹116 lakh, resulting in a net loss of ₹107 lakh (EPS of -₹0.59) versus a small profit of ₹6 lakh in Q1 FY25. The board also approved altering the company's main objects to drop its lending and finance business and to change the company name by removing 'Finance & Leasing'. The auditor (Jain Vinay & Associates) issued an unmodified limited review opinion. Other equity stands negative at ₹-315 lakh, indicating accumulated losses.
The company is essentially exiting its core finance/leasing business and re-positioning itself, but persistent quarterly losses (₹107 lakh in Q1 FY26) and negative other equity raise going-concern concerns. Shareholders should watch for the proposed name change and the strategic direction the company takes after exiting lending, as the stock may see sentiment pressure given the weak earnings.