Statement of Deviation alongwith result
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On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 2.3 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Landmarc Leisure reported weak Q3 FY26 results with total operating income of Rs. 6.14 lakhs (vs Rs. 3.46 lakhs in Q3 FY25) but a net loss of Rs. 19.11 lakhs, taking the nine-month loss to Rs. 69.70 lakhs versus Rs. 27.44 lakhs a year ago. The company's motion pictures and packaged bottle segments remain in the red while management has decided to wind down its wellness business and focus on films, media, and TV. The auditor issued a qualified review report flagging Rs. 466.60 lakhs in undocumented interest-free loans to four parties, Rs. 2,218.28 lakhs in advance given to SKM Real Infra (now under IBC), and Rs. 1,500 lakhs in security deposit with Shree Ram Urban Infra (under liquidation), all without adequate provisioning. The company raised Rs. 19.98 crore via a preferential issue in October 2025, of which Rs. 16.11 crore has been deployed for content creation (Marathi/Hindi films and music) and working capital, and Rs. 2.54 lakh preference shares were redeemed using these proceeds.
Shareholders should be cautious — persistent losses, the auditor's qualified opinion, and over Rs. 37 crore stuck with two companies under IBC resolution/liquidation point to serious asset quality and recoverability risks, even as management pivots to media content creation with fresh capital.