Golden Legand Leasing & Finance Limited Golden Legand Leasing & Finance Limited has approved the appointment of M/s. H. Rajen & Co. as its statutory auditor for a term of three years. The board decision requires shareholder ratification at the forthcoming annual general meeting.

The board meeting held on August 27, 2026, also finalized logistics for the company’s 42nd Annual General Meeting (AGM). The event is scheduled for September 28, 2026, at 3:00 pm via video conferencing or other audio-visual means. Shareholders holding securities as of September 21, 2026, will be eligible to vote on the resolutions.

Auditor Appointment Details

The appointment follows the completion of the tenure of the existing statutory auditor, M/s Sunil Vankawala & Associates. M/s. H. Rajen & Co., established in 1970, will serve from the conclusion of the 42nd AGM until the conclusion of the 45th AGM. The firm holds registration number 108351W and is empanelled with the Comptroller and Auditor General of India and the Reserve Bank of India.

AGM Logistics

The board adopted the Board’s Report along with annexures for the year ended March 31, 2026. It also approved the Secretarial Audit Report pursuant to Section 204(l) of the Companies Act, 2013, and Rule 9 of the Companies (Appointment & Remuneration Personnel) Rules, 2014.

Central Depository Services (India) Limited (CDSL) was appointed to provide e-voting facilities for the AGM. M/s. H. Maheshwari & Associates, Practicing Company Secretary, was named as the scrutinizer for the e-voting results. The draft notice for the 42nd AGM received final board approval during the session.

Golden Legand Leasing & Finance reported a 79.2% decline in net profit to ₹54.89 lakh for the quarter ended June 30, 2026, compared to ₹491.37 lakh in the corresponding period of the previous year. Revenue from operations dropped significantly by 74.4% to ₹921.36 lakh from ₹3,595.12 lakh in Q1FY26. The company’s board approved the unaudited standalone financial results for Q1FY27 on July 20, 2026.

Total income for the quarter stood at ₹921.36 lakh, down from ₹3,595.12 lakh in the prior year period. Total expenses decreased to ₹843.32 lakh from ₹2,909.63 lakh. Profit before tax for the quarter was ₹78.04 lakh, a sharp decrease from ₹685.49 lakh in the same quarter last year. The tax expense for the period was ₹23.15 lakh.

Qualified Audit Observations

Sunil Vankawala & Associates, the statutory auditors, issued a limited review report with a qualified conclusion. The report highlighted three key areas of concern. First, the company’s bank account remains under lien by investigating authorities to the extent of ₹7,528.18 lakh due to suspicious transactions detected by a merchant. The matter is sub judice, and no provision has been recognised.

Second, balances related to trade receivables, payables, loans, and other assets are subject to confirmation and reconciliation. While some confirmations were obtained and reconciled without material discrepancies, the majority remain pending. Consequently, the auditors stated they are unable to comment on the potential impact of these unconfirmed balances.

Third, the company recognised income based on internal software reports, and reconciliation with bank transactions is still in progress. The auditors noted they cannot ascertain the impact of this pending reconciliation on the financial statements, though management expressed confidence it would not result in material adjustments.

Operational and Capital Details

The company’s paid-up equity share capital remained unchanged at ₹1,487 lakh. Earnings per share (EPS) for the quarter stood at ₹0.37, down from ₹3.30 in the corresponding quarter of the previous year. During the quarter, the company incorporated a wholly owned subsidiary, Gullakkart Private Limited, on April 18, 2026. The subsidiary has not commenced business operations due to delays in obtaining its Permanent Account Number (PAN), and consequently, no capital was infused during the quarter.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE088E01019/0dc3c5ea-db94-49ba-9050-98bc36aa82ab.pdf