Outcome of Board Meeting held today i.e., May 30, 2025
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The board of Leading Leasing Finance and Investment Company approved standalone audited financial results for Q4 and FY ended March 31, 2025. For the full year, total income rose modestly to Rs. 2,900.19 lakhs from Rs. 2,644.70 lakhs, while net profit jumped sharply to Rs. 470.90 lakhs from Rs. 43.15 lakhs. The auditor (S K Bhavsar & Co.) issued an unmodified opinion but flagged an Emphasis of Matter regarding uncertainties around recoverability of loans, advances, and investment valuations. The board also appointed M/s Dharti Patel & Associates as Secretarial Auditor for 5 years and M/s Kishan Patel and Associates as Internal Auditor for FY26. Additionally, 1 crore convertible warrants were converted into equal equity shares, bringing the paid-up equity capital to Rs. 52.45 crores (52.45 crore shares of Rs. 1 each), with Rs. 5.55 crores received on conversion. The resignation of Company Secretary Mr. Jayesh Bhavsar (effective May 13, 2025) was also noted.
Shareholders should note the significant year-on-year profit growth, but the auditor's emphasis on uncertain loan and investment valuations is a caution flag. The warrant conversion is mildly dilutive but improves equity base. Net cash from operations swung deeply negative (Rs. 40,447.65 lakhs outflow vs Rs. 3,766.41 lakhs prior year), reflecting large increases in short-term loans and advances, which warrants close monitoring.