Please Find Enclosed herewith Audited Financials for the Financial Year 2024-25
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United Leasing & Industries Ltd reported full-year FY25 revenue from operations of Rs 785.28 lacs, up about 9% from Rs 719.59 lacs last year. Total revenue stood at Rs 803.93 lacs. Net profit for the year came in at Rs 11.26 lacs versus Rs 6.39 lacs in FY24, a roughly 76% jump, though Q4 alone posted a loss of Rs 18.23 lacs. The auditor issued an unmodified opinion but flagged three emphasis-of-matter notes: revaluation of land not updated since FY22, interest income on group company loans (9.25%) not booked in books (~Rs 6.55 lacs understated), and interest expense on related-party borrowings not booked (~Rs 7.35 lacs understated). The statutory auditor changed from M/s Ravi Ranjan & Co. LLP to M/s R K Bhalla & Co. during the year.
Full-year earnings look healthy on paper, but the year-end result was supported by not booking roughly Rs 13-14 lacs of net interest relating to related-party loans and borrowings, so the true picture is weaker than reported. Negative operating cashflow of Rs 21.77 lacs (vs positive Rs 9.22 lacs last year) and cash balance plunging from Rs 105.36 lacs to Rs 18.04 lacs raise liquidity concerns for shareholders.