BSE: 511728
K.Z.LEASING & FINANCE LTD.
A small Non-Banking Financial Company (NBFC) listed on BSE, headquartered in Ahmedabad, that operates in a single finance segment. In FY26, revenue from operations was Rs. 42.80 lakh, down 38.2% from Rs. 69.32 lakh in FY25, while other income was Rs. 274.11 lakh (up from Rs. 164.00 lakh). The company's borrowing book expanded sharply during FY26, with total borrowings rising from Rs. 200.60 lakh to Rs. 2,220.38 lakh, driving finance costs to Rs. 164.25 lakh — nearly four times the Rs. 45.32 lakh incurred in FY25. Employee costs made up 24.5% of revenue and other operating expenses 29.8%. The company reported a net loss of Rs. 21.20 lakh in FY26 against a loss of Rs. 18.73 lakh in FY25, with operating cash flow deeply negative at Rs. -464.68 lakh. Total assets stood at Rs. 39.65 crore, paid-up equity capital at Rs. 304.12 lakh, and net worth below Rs. 25 crore (qualifying it for certain SEBI exemptions). The promoter and promoter group collectively hold 30.25% of shares across 12 entities, with no single holder crossing the 25% threshold. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Finance operations, Other income. Small, loss-making, single-segment NBFC with a rapidly expanded but loss-generating borrowing book.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 2 | 5 | 2 | 3 |
| EBITDA (ex other income) | 1 | 1 | 1 | 0 | 1 |
| margin % | 34.8 | 41.1 | 29.2 | 9.3 | 45.7 |
| Owners' profit | 0 | 0 | 1 | (0) | (0) |
| EPS, as reported (₹) | 0.74 | 0.94 | 2.37 | (0.62) | (0.70) |
| ROE % · ROCE % | 1.2 · — | 1.7 · — | 3.5 · — | (1.0) · — | (1.4) · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | (0) | 3 | 1 | (5) |
| 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 | 2 | (4) | 1 | 0 | (0) | 0 | 1 |
| Profit before tax | 3 | 2 | (5) | 0 | 1 | (1) | (1) | 0 |
| Net profit | 2 | 1 | (5) | 1 | 1 | (1) | (1) | 1 |
| EPS (₹) | 7.03 | 3.85 | (13.30) | 1.81 | 2.06 | (2.81) | (1.92) | 1.98 |
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/B | 0.3 | 1.1 | 30 of 253 | 88% |
| ROE | (1.4) | 3.1 | 215 of 257 | 16% |
| EBITDA margin | 75.3 | 48.6 | 66 of 249 | 74% |
| Revenue growth | 32.7 | 12.6 | 84 of 231 | 64% |
| Profit growth | 9.7 | 7.8 | 123 of 251 | 51% |
| Market cap | 5 | 34 | 251 of 268 | 6% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 7 Oct 2026 · Quarterly dematerialisation confirmation certificate submitted to BSE | compliance | minimal | — | — |
| 30 Sept 2026 · AGM voting results: Both resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 30 Sept 2026 · K.Z. Leasing and Finance holds 40th AGM, all resolutions passed | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Newspaper publication of 40th AGM notice, book closure and e-voting | compliance | minimal | — | — |
| 27 Aug 2026 · K.Z. Leasing & Finance submits FY26 Annual Report and AGM notice | compliance | low | — | — |
| 27 Aug 2026 · Cut-off date fixed for e-voting ahead of 40th AGM on 30 Sep 2026 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · AGM on 30 Sep 2026; Book Closure from 24 Sep | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Board meeting held; approves 40th AGM notice and Director's Report | 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.