Board Meeting Outcomes

The Board of Directors meeting was held on Tuesday, August 11, 2026, commencing at 01:45 p.m. and concluding at 02:45 p.m. The following items were approved:

  • Annual General Meeting (AGM): Approved the notice of the 41st Annual General Meeting to be held on Thursday, September 24, 2026, at 12:30 p.m. at the Registered Office (MGF House, 4/17-B, Asaf Ali Road, New Delhi - 110002) through Video Conferencing (VC)/Other Audio Visual Means (OAVM).
  • Directors' Report: Approved the Directors' Report along with its annexures, Corporate Governance Report, and Management Discussion and Analysis for the financial year ended March 31, 2026.
  • Director Re-appointment: Shri Rajiv Gupta (DIN: 00022964), Director designated as Chairman, and Ms. Sumana Verma (DIN: 01448591), Director, shall retire by rotation and, being eligible, offer themselves for re-appointment at the AGM.
  • Auditor Remuneration: Approved the remuneration of M/s Jagdish Chand & Co., Chartered Accountants (FRN: 000129N), Statutory Auditors, as per Section 142 of the Companies Act, 2013.
  • Related Party Transactions: Approved Related Party Transactions, including Material Related Party Transactions, on the recommendation of the Audit Committee.
  • Re-appointment of Key Managerial Personnel: Approved the re-appointment of Shri Rohit Madan as Manager, Company Secretary & CFO for a further period of three years from April 1, 2027, to March 31, 2030.
  • Book Closure: The register of members and share transfer books will remain closed for the AGM from Friday, September 18, 2026, to Thursday, September 24, 2026 (both days inclusive).
  • Scrutinizer for E-Voting: Appointed Ms. Anjali Yadav, Proprietor of M/s Anjali Yadav & Associates, Practicing Company Secretary, as the Scrutinizer for conducting the e-voting and voting process at the AGM.
  • E-Voting Agency: Appointed Central Depository Services (India) Limited (CDSL) for conducting the e-voting process for the AGM.
  • Meeting Convening Agency: Appointed M/s Alankit Assignments Limited, Share Transfer Agents, for conducting the AGM through VC/OAVM.
  • Internal Auditor: Approved the re-appointment of Mr. Sudhir Kumar Agarwal, Chartered Accountant (Membership No. 082496), as Internal Auditor for the year 2026-2027.

Financial Results for Quarter Ended June 30, 2026 (Q1 FY27)

The unaudited financial results were reviewed by the Audit Committee and approved by the Board on August 11, 2026. Statutory Auditors, M/s Jagdish Chand & Co., issued an unmodified limited review report.

Key Financial Figures (₹ in Lakhs, Except EPS)

Income:

  • Revenue from Operations: ₹15.64
  • Dividend Income: ₹12.20
  • Rental Income: ₹0.20
  • Net gain on derecognition of financial instruments under amortised cost category: ₹3.24
  • Other Income: ₹0.01 (Misc Income)
  • Total Income: ₹15.65

Expenses:

  • Employee Benefits Expense: ₹8.10
  • Depreciation and Amortisation: ₹0.01
  • Other Expenses: ₹3.55
  • Legal & Professional Expenses: ₹6.64
  • Total Expenses: ₹18.30

Profit/(Loss):

  • Loss Before Tax: (₹2.65)
  • Tax Expense: ₹0.00 (No provision due to carried forward losses and unabsorbed depreciation)
  • Net Loss for the Quarter: (₹2.65)
  • Other Comprehensive Income: ₹0.00
  • Total Comprehensive Income for the Quarter: (₹2.65)

Earnings Per Share (EPS):

  • Basic and Diluted EPS (for continuing operations): (₹0.02)

Comparative Figures:

  • Q4 FY26 (Mar 31, 2026): Net Profit of ₹6.11 lakh; EPS ₹0.04
  • Q1 FY26 (Jun 30, 2025): Net Loss of ₹5.52 lakh; EPS (₹0.04)

Capital Structure:

  • Paid-up Equity Share Capital: ₹1,470.02 lakh (Face Value ₹10 per share)
  • Reserves (excluding Revaluation Reserves): (₹533.66) lakh

Auditor Qualifications and Management Comments

The Statutory Auditors' limited review report included an Emphasis of Matter regarding non-compliance with RBI principal business criteria:

  • The company did not satisfy the principal business criteria under Section 45-I(f) of the RBI Act, 1934, as financial assets constituted less than 50% of total assets as of March 31, 2026, and during the quarter ended June 30, 2026.

Management Comments:

  • Investments in bank fixed deposits are for safety, liquidity management, and treasury purposes pending deployment in financing activities due to volatile market conditions.
  • This deviation is temporary and not intended to change the principal business of the company.
  • Management believes the deviation does not materially affect the going concern status or nature of the business.

Other Key Disclosures

  • The company has discontinued fresh hire purchase/leasing business.
  • Accounts are prepared on a going concern basis as management believes asset realization will generate enough funds to pay off liabilities.
  • Fair value changes in long-term investments will be considered in audited accounts for the year ending March 31, 2027; the effect is not expected to be material.
  • Financial results are available on the BSE website (www.bseindia.com) and the company's website (www.indialease.com).