The Exchange had sought clarification from LEEL Electricals Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results submitted is not as per format prescribed by SEBI -2. Segment details not submitted -3. The company has not submitted declaration in case of unmodified opinion(s) The response of the Company is enclosed.
Awaiting price reaction for this filing.
NSE had asked LEEL Electricals to clarify three deficiencies in its March 2025 quarterly results: notes missing from the financial format, segment details not provided, and the unmodified opinion declaration not submitted. The company responded that the unmodified opinion declaration was already filed on 24 May 2025, and it has now resubmitted the results with proper notes and single-segment details (Manufacturing of Parts of Air Conditioning Machines). The resubmitted results show revenue from operations of just ₹1.33 lakhs for FY25, total income of ₹71.77 lakhs, and a net loss of ₹70.44 lakhs. The auditor flagged concerns that the company is still under transition after being acquired through the NCLT liquidation process, with many figures still subject to final adjustments.
This is largely a procedural compliance update — the company is catching up on paperwork that NSE wanted. However, investors should note the extremely low revenue (just ₹1.33 lakhs for the year) and continuing losses, as the business is still being rebuilt after the acquisition by Krishna Ventures Limited. The auditor also modified the opinion due to incomplete historical data, which is a yellow flag for shareholders.