Outcome of Board Meeting
Price
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Awaiting price reaction for this filing.
The board of Landmarc Leisure Corporation approved unaudited financial results for Q3 and nine months ended December 31, 2025, reporting a wider net loss of Rs. 69.70 lakhs for the nine-month period versus Rs. 27.44 lakhs loss a year earlier. Revenue from operations fell sharply to Rs. 10.77 lakhs in 9M FY26 from Rs. 50.78 lakhs in the corresponding period of FY25. The statutory auditor (SKHD & Associates) issued a Qualified Conclusion, flagging interest-free loans of Rs. 466.60 lakhs to four parties without proper documentation, and deposits of Rs. 2,218.28 lakhs with SKM Real Infra (under IBC resolution) and Rs. 1,500 lakhs with Shree Ram Urban Infrastructure (in liquidation), where no provisioning has been made. The board also approved redemption of 2.54 lakh preference shares (Rs. 254 lakhs) using proceeds from a Rs. 19.98 crore preferential issue, of which Rs. 16.11 crore has been deployed so far for Marathi/Hindi film and music content creation. The company stated it is shifting strategic focus from its wellness business to films, media and TV content.
The widening losses, dramatic revenue decline and auditor's qualified opinion — combined with large unprovided exposures to companies in IBC/liquidation — are clear negative concerns for shareholders. The preference share redemption signals some capital restructuring, but the business remains small and execution-dependent on the new content strategy.