BSE: 530855
GDL LEASING & FINANCE LTD.
A small non-banking financial company earns its revenue primarily from interest on loans and advances and from fees and commissions. In FY26, total revenue from operations was ₹3.58 crore, split between Interest Income of ₹242.33 lakh and Fees & Commission Income of ₹115.66 lakh. The lending book expanded sharply during the year, with advances given rising by ₹360.27 lakh, which pushed operating cash flow to negative ₹237.48 lakh. Loan impairment surged to ₹44.20 lakh from ₹1.38 lakh, pointing to asset quality stress on the book. The cost structure is typical of a finance company — no raw materials, with employee costs at 7.5% of revenue and other operating expenses at 10.6%. Net profit for FY26 was ₹79.57 lakh on total assets of ₹8.08 crore, with EPS of ₹1.59. The company is working to meet the RBI's Net Owned Fund requirement of ₹10 crore: shareholders approved raising authorised share capital from ₹5.5 crore to ₹10 crore, but a proposed preferential issue of 49.5 lakh convertible warrants at ₹11.20 per warrant was rejected at the December 2025 EGM. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Interest Income, Fees & Commission Income. Small NBFC, lending-driven with fee income
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 1 | 4 |
| EBITDA (ex other income) | 0 | 0 | 0 | 1 | 1 |
| margin % | 2.7 | 3.6 | 32.6 | 49.7 | 31.6 |
| Owners' profit | 0 | 0 | 0 | 0 | 1 |
| EPS, as reported (₹) | 0.04 | 0.03 | 0.69 | 0.76 | 1.59 |
| ROE % · ROCE % | 0.2 · — | 0.3 · — | 3.1 · — | 6.4 · — | 11.7 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | 0 | (0) | (1) | 1 |
| Capex | 0 | 0 | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | (0) | 0 |
| EPS (₹) | 0.56 | 0.16 | 0.06 | 0.65 | 0.98 | 0.14 | (0.19) | 0.27 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 5,70,768 | 28.1 | 4.88 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,94,820 | 14.6 | 2.96 | — | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,31,798 | 22.8 | 4.33 | — | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,31,209 | 24.0 | 2.79 | — | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 96,352 | 8.5 | 2.42 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,202 | 22.1 | 3.19 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 43,766 | 19.6 | 2.94 | — | 13.8 | — | — | 78.4 |
| AUTHUM INVEST & INFRA LTD | 42,040 | 7.2 | 2.85 | — | 13.1 | — | — | 90.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 68.7 | 18.1 | 168 of 200 | 16% |
| P/B | 6.1 | 1.1 | 240 of 253 | 5% |
| ROE | 11.7 | 3.1 | 39 of 257 | 85% |
| EBITDA margin | 24.0 | 48.6 | 159 of 249 | 36% |
| Revenue growth | 26.6 | 12.6 | 90 of 231 | 61% |
| Profit growth | (58.1) | 7.8 | 162 of 251 | 36% |
| Market cap | 41 | 34 | 126 of 268 | 53% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Routine compliance certificate for quarter ending Sept 2026 | compliance | minimal | — | — |
| 3 Oct 2026 · Shareholders approve 30 lakh warrants to non-promoters | fund raising | medium | — | — |
| 3 Oct 2026 · GDL Leasing raises authorised share capital to Rs 8.5 crore | corporate actions | medium | — | — |
| 3 Oct 2026 · AGM approves Secretarial Auditor and Independent Director | management changes | medium | — | — |
| 3 Oct 2026 · Shareholders approve Independent Director and Secretarial Auditor appointments | management changes | medium | — | — |
| 3 Oct 2026 · AGM results: all 8 resolutions passed including warrants issue and capital hike | board shareholder meetings | low | — | — |
| 3 Oct 2026 · Scrutinizer's Report: All 8 Resolutions Passed at 33rd AGM | compliance | minimal | — | — |
| 30 Sept 2026 · GDL Leasing and Finance 33rd AGM held; resolutions on warrants and capital hike | board shareholder meetings | low | — | — |
| 19 Sept 2026 · Corrigendum to 33rd AGM notice published in newspapers | compliance | minimal | — | — |
| 18 Sept 2026 · Corrigendum to 33rd AGM notice - Item 8 reclassified as Special Resolution | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.