Financial result along with limited review report
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Awaiting price reaction for this filing.
Landmarc Leisure Corporation reported Q2 FY26 revenue of just Rs. 2.30 lakhs, down sharply from Rs. 39.53 lakhs a year ago, mainly due to lack of income from the Motion Pictures business. Net loss for the quarter widened to Rs. 31.79 lakhs (vs. profit of Rs. 3.89 lakhs in Q2 FY25). For the half-year, total revenue plunged over 90% to Rs. 4.62 lakhs and net loss deepened to Rs. 50.60 lakhs from Rs. 9.99 lakhs earlier. The board has approved re-structuring agreements with parties to whom it had given deposits/advances (Rs. 2,218 lakhs with SKM Real Infra and Rs. 1,500 lakhs with Shree Ram Urban Infra – both under IBC). The company raised share application money of Rs. 3.51 crore via private placement. Despite the company's filing claiming an 'unmodified opinion,' the auditor SKHD & Associates actually issued a Qualified Review Report.
The auditor's qualified review (flagging unconfirmed loans, unrecovered IBC deposits, and accounting non-compliance) signals material concerns about asset quality and reporting quality. With revenues collapsing, persistent losses, negative operating cash flows, and a negative net worth component (other equity of -Rs. 5,148 lakhs), the stock carries significant fundamental risk. Shareholders should view the results cautiously as the company's pivot into Films/Media/TV has yet to show traction.