Jindal Leasefin Limited has appointed Chartered Accountant Asha Hardikkumar Sukhadiya as a non-executive independent director for a term of five years. The appointment takes effect from August 29, 2026, subject to shareholder approval at the ensuing general meeting.

The board made the appointment following the cessation of Sachin Kharkia, who completed his second and final term as an independent director on August 28, 2026. Kharkia ceased to be a member of the board and its respective committees with effect from the close of business hours on that date.

Ms. Sukhadiya brings over a decade of experience in direct taxation, statutory audit, and financial compliance. Her expertise includes direct tax litigation, withholding tax compliance, and the application of FEMA and anti-money laundering provisions. She holds no other directorships in listed entities.

The company confirmed that Ms. Sukhadiya has no inter-se relationship with other directors or key managerial personnel. The disclosures were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Jindal Leasefin Limited reported a widened net loss of ₹5.36 lakh for the first quarter of FY26 (Q1FY26), marking a deterioration from the ₹3.61 lakh loss recorded in the corresponding period of FY25. The company generated zero revenue from operations during the quarter, signaling a lack of core business activity, while total expenses increased to ₹5.36 lakh from ₹7.39 lakh in the prior year quarter. This performance underscores ongoing operational challenges for the non-banking financial company (NBFC), which failed to recognize any interest or dividend income despite holding financial assets.

The Board of Directors approved the unaudited standalone financial results at a meeting held on August 11, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the company’s statutory auditors, A N S K & Associates, pursuant to Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to BSE Limited under Regulation 30 of the Listing Regulations.

Financial Performance Overview

Jindal Leasefin’s income statement reflects a complete absence of operating revenue. Interest income, dividend income, net gains on fair value changes, and trading profits were all nil for the quarter ended June 30, 2026. In contrast, the previous quarter (Q4FY26) had seen other operating income of ₹247.68 lakh, driven largely by non-recurring items, which inflated the full-year FY26 revenue to ₹239.00 lakh.

Expenses remained relatively stable but outpaced income entirely. Employee benefits expense decreased slightly to ₹1.20 lakh from ₹3.29 lakh in Q1FY25, while other expenses stood at ₹4.15 lakh. Finance costs were minimal at ₹0.01 lakh. Consequently, the profit before tax swung to a loss of ₹5.36 lakh, compared to a loss of ₹7.39 lakh in the same quarter last year. However, tax credits were absent in Q1FY26, whereas the prior year saw a deferred tax credit of ₹3.78 lakh, contributing to the wider net loss this quarter.

Related-Party Loan Disclosure

A significant disclosure in the auditor’s report concerns a related-party transaction. During the quarter, Jindal Leasefin granted a loan of ₹563.20 lakh to Jindal Dyechem Industries Private Limited, carrying an interest rate of 6% per annum payable annually. Despite being registered as an NBFC and having contractual terms mandating interest accrual, the company did not recognize any interest income on this loan as of June 30, 2026. Statutory auditors A N S K & Associates highlighted this omission in their review report, noting that no interest income had been accrued or recognized. This lack of revenue recognition from a substantial asset base further explains the zero revenue figure and raises questions about the quality of earnings and cash flow generation.

What the Numbers Show

The divergence between the company’s balance sheet strength and its income statement performance is stark. While Jindal Leasefin holds reserves of ₹231.24 lakh and paid-up capital of ₹300.89 lakh, its ability to generate operational income remains impaired. The reliance on non-operating income in Q4FY26 (₹247.68 lakh) to post a full-year profit of ₹91.88 lakh masks the underlying operational deficit. With zero revenue in Q1FY26 and unaccrued interest on major related-party loans, the company’s profitability appears highly dependent on irregular, non-core transactions rather than sustainable lending activities. Investors should monitor whether the company can regularize interest accruals and generate consistent operating income in subsequent quarters.