Gujarat Lease Financing Ltd

Gujarat Lease Financing Ltd - Trading window closure from October 01, 2026; will reopen 48 hours after the submission of the Unaudited Financial Results for the quarter and half year ended September 30, 2026 to the Stock Exchanges

Financial results approved

• Unaudited standalone results for quarter ended 30 June 2026 approved with Limited Review Report.

Key financial highlights

• Quarterly loss of Rs 8.03 lakhs; net worth exhausted; liabilities exceed assets.

Going concern status

• Note states non-going-concern basis due to no near-term business plan.

Audit status

• Limited Review completed; no audit opinion expressed.

Operations and structure

• Company has no operations, no business segments, and no subsidiaries as of 30 June 2026.

Regulatory/compliance notes

• Note outlines 2004 court-sanctioned scheme with banks; final Deed of Assignment not yet executed.

Dematerialisation status

• Dematerialisation requests during the quarter ended 30 June 2026 were confirmed to the depositories.
• Securities dematerialised have been listed on the exchanges where the earlier issued securities are listed.
• Physical certificates were mutilated and cancelled; depository names substituted as registered owner within 15 days.

AGM Details

• AGM held July 2, 2026 at 10:30 am via VC/OAVM.

Key resolutions

• Resolution 1 (Ordinary): Adoption of Financial Statements for year ended Mar 31, 2026.
• Resolution 2 (Ordinary): Re-appointment of Leena Katdare.
• Resolution 3 (Special): Re-appointment of Animesh Mehta as Independent Director for second term.
• Resolution 4 (Special): Re-appointment of Narayan Meghani as Independent Director for second term.

Voting results

• Resolution 1: Passed; 10,568,901 for, 251 against.
• Resolution 2: Passed; 10,568,325 for, 827 against.
• Resolution 3: Passed; 10,568,275 for, 877 against.
• Resolution 4: Passed; 10,568,275 for, 877 against.

Director changes

• Leena Katdare re-appointed as Ordinary Director.
• Animesh Mehta re-appointed as Independent Director for second term.
• Narayan Meghani re-appointed as Independent Director for second term.

AGM details

• AGM held on 02 July 2026 via Video Conferencing / OAVM, from 10:30 to 10:55 am.

Key resolutions

• Adoption of financial statements for FY ended 31 March 2026 (auditor’s and board’s reports).
• Re-appointment of Leena Katdare, retiring by rotation, for re-appointment.
• Re-appointment of Animesh Mehta as Independent Director for second/final 5-year term (Mar 2027–Mar 2032).
• Re-appointment of Narayan Meghani as Independent Director for second/final 5-year term (Mar 2027–Mar 2032).

Voting results

• All resolutions approved by requisite majority via remote e-voting and at AGM.

Dividend

• Dividend not proposed or declared.

Director changes

• Leena Katdare re-appointed as director (retiring by rotation); Animesh Mehta and Narayan Meghani re-appointed as Independent Directors.

Auditor appointments

• No auditor appointments or changes disclosed.

Material related party transactions

• No material related party transactions disclosed.

Meeting Details

• Board meeting scheduled for Thursday, April 30, 2026.

Key Agenda Items

• Consider and approve audited financial results for quarter and year ended March 31, 2026.

Other Notes

• No additional material governance or investor-relevant items were disclosed in this notice.

Financial Performance 📊

• Q3 FY26 profit was Rs. 2.78 lakhs vs Rs. 5.02 lakhs in Q3 FY25; total income was Rs. 10.65 lakhs vs Rs. 10.94 lakhs.
• Nine months ended Dec 31, 2025 showed a loss of Rs. 0.96 lakhs vs profit of Rs. 1.31 lakhs in prior year.
• Employee benefits expense increased to Rs. 3.36 lakhs in Q3 FY26 from Rs. 2.63 lakhs in Q3 FY25.
• Listing and custodian fees were Rs. 8.83 lakhs for nine months ended Dec 31, 2025.

Balance Sheet & Accounting ⚠️

• Accumulated losses exceeded net worth; total liabilities exceeded total assets as of Dec 31, 2025.
• Deferred tax assets on unabsorbed depreciation and carry forward losses not recognized due to uncertainty.
• Financial assets stated at realizable value or cost, whichever is lower, due to non-going concern assumption.

Operations & Governance 🗓️

• Company has no business plan or intention to resume operations; financials prepared on non-going concern basis.
• No operations or reportable segments; no subsidiaries or associates as of Dec 31, 2025.
• Board approved unaudited financial results for Q3 and nine months ended Dec 31, 2025 on Jan 19, 2026.

Audit & Compliance 🧾

• Limited review by auditors found no material misstatements but highlighted non-going concern status.
• Previous period figures regrouped and reworked where necessary for comparability.

Financial Performance

• Board approved unaudited standalone financial results for quarter and nine months ended December 31, 2025.
• Company reported profit of Rs. 2.78 lakhs for quarter ended December 31, 2025 (previous quarter Rs. 5.02 lakhs).
• Statutory auditors issued limited review report with no material misstatements noted.

Financial Position ️

• Accumulated losses exceeded net worth; total liabilities exceeded total assets as of December 31, 2025.
• Financial statements prepared on non-going concern basis; assets stated at realizable value or cost, whichever lower.
• Deferred tax assets on unabsorbed depreciation and carry forward losses not recognized due to uncertainty of future taxable income.

Business Status

• Company has no business plan or intention to resume business activities in near future.
• No reportable operating segments; no subsidiaries, associates, or joint ventures as of December 31, 2025.