BSE: 500202
INDIA LEASE DEVELOPMENT LTD.
Classified as a Non-Banking Financial Company (NBFC) on BSE, India Lease Development has discontinued its hire purchase and leasing business and now operates at a very small scale. FY26 revenue from operations stood at ₹34.90 lakhs (down from ₹65.33 lakhs in FY25) and total income for the year reached ₹65.33 lakhs, with a thin net profit of ₹2.10 lakhs after employee costs (56.1% of revenue) and other operating expenses (45.5% of revenue). Total assets were ₹9.678 crore, but reserves sat deeply negative at ₹(533.66) lakhs, and the auditor flagged non-compliance with RBI's principal business criterion requiring financial assets to be at least 50% of total assets. The remaining activity appears to be managing a small investment book, including an ₹106.89 lakh holding in promoter-group entity The Motor and General Finance Limited, while a ₹35.80 lakh loss was booked on the sale of Jayabharat Credit Limited shares at below-market prices. Management has prepared accounts on a going-concern basis expecting asset realizations to cover liabilities. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Revenue from operations, Investment and other income. Effectively non-operating NBFC; discontinued hire purchase and leasing, with negative reserves and RBI principal-business non-compliance flagged
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 |
| EBITDA (ex other income) | (3) | (0) | (0) | (0) | (0) |
| margin % | (564.0) | (23.4) | (41.6) | (23.4) | (1.6) |
| Owners' profit | (0) | (0) | (0) | (0) | 0 |
| EPS, as reported (₹) | (0.09) | (0.06) | (0.10) | (0.08) | 0.01 |
| ROE % · ROCE % | (1.3) · — | (0.8) · — | (1.4) · — | (1.1) · — | 0.2 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (1) | (1) | (1) | (1) | (0) |
| Capex | (0) | 0 | 0 | (0) | 0 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | 0 | (0) | (0) | (0) | 0 | 0 | 0 |
| Net profit | (0) | 0 | (0) | (0) | (0) | 0 | 0 | 0 |
| EPS (₹) | (0.04) | 0.01 | (0.01) | (0.04) | (0.04) | 0.01 | 0.00 | 0.04 |
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) | 640.0 | 18.1 | 198 of 200 | 1% |
| P/B | 1.0 | 1.1 | 119 of 253 | 52% |
| ROE | 0.2 | 3.1 | 190 of 257 | 26% |
| EBITDA margin | 28.0 | 48.6 | 153 of 249 | 39% |
| Revenue growth | 50.8 | 12.6 | 61 of 231 | 74% |
| Profit growth | 192.6 | 7.8 | 42 of 251 | 84% |
| Market cap | 9 | 34 | 223 of 268 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 6 Oct 2026 · Compliance Certificate under SEBI Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 5 Oct 2026 · 41st AGM minutes filed; all 8 resolutions passed with requisite majority | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · News publication of 41st AGM e-Voting results - all 8 resolutions passed | compliance | minimal | — | — |
| 25 Sept 2026 · All 8 resolutions approved at 41st AGM of India Lease Development | compliance | minimal | — | — |
| 22 Sept 2026 · Trading window closed from Oct 1, 2026 till Q2 FY26 results | compliance | minimal | — | — |
| 9 Sept 2026 · Newspaper ad: Corrigendum to 41st AGM Notice with salary revision | compliance | minimal | — | — |
| 9 Sept 2026 · Corrigendum to 41st AGM notice published in newspaper | compliance | minimal | — | — |
| 8 Sept 2026 · Corrigendum to 41st AGM notice - salary revision for Manager/CFO | management changes | medium | — | — |
| 2 Sept 2026 · Newspaper notice published for 41st AGM on September 24, 2026 | 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.