BSE: 509024
GOLDEN LEGAND LEASING & FINANC
Operates as a Non-Banking Financial Company on BSE, with lending and leasing as its core activity. Revenue jumped to Rs 18,358.82 lakhs in FY26 from Rs 934.38 lakhs in FY25, while profit after tax swung to Rs 1,029.75 lakhs from a loss of Rs 219.95 lakhs. The cost base is dominated by other operating expenses at 74.8% of revenue, with employee costs at 7.8%; the auditor flagged Rs 10,432.21 lakhs in agent commissions as lacking supporting documentation. The board raised the borrowing limit to Rs 500 crore and is expanding into digital finance through Gullakkart Private Limited, a wholly owned subsidiary that intends to apply for an RBI Prepaid Payment Instrument licence, and an AI-enabled debt management platform called Bade BhaiSab. The statutory auditor issued a qualified opinion on FY26 accounts, citing suspicious merchant transactions of Rs 7,528.18 lakhs (under bank lien, matter sub judice in Bombay High Court), undocumented agent commissions, and pending reconciliations. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Lending and leasing, Digital lending, Digital payments and PPI, AI-enabled debt management. Small BSE-listed NBFC pivoting from traditional lending into digital finance, with material audit qualifications
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 0 | 0 | 9 | 184 |
| EBITDA (ex other income) | 1 | (0) | (1) | 0 | 32 |
| margin % | 72.3 | (40.1) | — | 3.5 | 17.4 |
| Owners' profit | 1 | (0) | (1) | (2) | 10 |
| EPS, as reported (₹) | 0.47 | (0.08) | (0.99) | (1.48) | 6.93 |
| ROE % · ROCE % | 4.6 · 5.3 | (0.8) · (0.5) | (10.9) · (11.8) | (19.2) · (17.1) | 23.8 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.33 | 0.63 | — |
| Cash from operations | 0 | 2 | 2 | 2 | 34 |
| Capex | (0) | 0 | 0 | (3) | (2) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 3 | 2 | 2 | 36 | 77 | 57 | 14 |
| Profit before tax | 1 | 1 | (1) | (2) | 7 | 12 | (3) | 3 |
| Net profit | 1 | 0 | (2) | (1) | 5 | 8 | (6) | 3 |
| EPS (₹) | 0.04 | 0.03 | (1.09) | (1.02) | 0.33 | 5.60 | (3.78) | 1.77 |
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) | 1.6 | 18.1 | 7 of 200 | 97% |
| P/B | 0.2 | 1.1 | 17 of 253 | 93% |
| ROE | 23.8 | 3.1 | 6 of 257 | 98% |
| EBITDA margin | 26.4 | 48.6 | 155 of 249 | 38% |
| Revenue growth | 778.4 | 12.6 | 13 of 231 | 95% |
| Profit growth | 282.0 | 7.8 | 30 of 251 | 88% |
| Market cap | 10 | 34 | 218 of 268 | 19% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Newspaper publication of weak September 2026 results | compliance | minimal | — | — |
| 21 Oct 2026 · September quarter net profit Rs 17.08 lakh; review qualified | results | high | — | — |
| 21 Oct 2026 · Half-year profit falls 95%; results face qualified review | results | high | — | — |
| 16 Oct 2026 · Board Meeting on Oct 21, 2026 to Consider Q2 FY26-27 Results | results | low | — | — |
| 8 Oct 2026 · Routine filing of Q2 dematerialisation compliance certificate | compliance | minimal | — | — |
| 30 Sept 2026 · 42nd AGM voting results: all 8 resolutions passed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · 42nd AGM summary: 8 resolutions tabled, results due by Sep 30 | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closed pending Q2 FY27 results approval | compliance | minimal | — | — |
| 5 Sept 2026 · Annual Report FY 2025-26 weblink shared; 42nd AGM on Sep 28, 2026 | compliance | low | — | — |
| 5 Sept 2026 · Golden Legand Leasing 42nd AGM on Sept 28, 2026 via video conferencing | compliance | minimal | — | — |
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.