Landmarc Leisure Corporation confirmed the appointment of M/s. M. K. Saraswat and Associates LLP as its Secretarial Auditor during the 35th Annual General Meeting held on September 24, 2026. The appointment was ratified by shareholders with a near-unanimous vote, formalizing the audit relationship for the upcoming fiscal year.

The meeting, conducted through Video Conferencing and Other Audio-Visual Means (OAVM), saw all four proposed ordinary resolutions pass with requisite majority. The AGM commenced at 11:12 am, twelve minutes after the scheduled start time due to an initial lack of quorum. A total of 48 members were present for the electronic meeting, with voting facilitated by Central Depository Services (India) Limited.

Key voting outcomes

Shareholders voted on four key agenda items, including the adoption of audited financial statements for FY26, re-appointment of a director, and the appointment of statutory and secretarial auditors. In all cases, the votes cast in favour overwhelmingly exceeded those against.

Promoter dominance in voting

The voting data reveals a stark concentration of power in the hands of the promoter group. Out of the total 98 crore outstanding shares, the promoter and promoter group held 59.99 crore shares. They cast votes for 57.23 crore shares across all resolutions, representing 95.40% of their holding and approximately 58.41% of the total outstanding shares.

In contrast, public non-institutional investors, who held 38.01 crore shares, participated minimally. They voted on only 82,182 shares, which constitutes roughly 0.02% of their total holding. No institutional investors participated in the voting process.

Meeting proceedings and governance

Mahadevan Ramanathan Kavassery, Whole-time Director, chaired the proceedings. The Chairman informed members that the Company's Annual Report, including the Board's Report and Audited Financial Statements for the year ended March 31, 2026, had been circulated electronically. The meeting included three ordinary business items and one special business item.

During the Q&A session, the Chairman invited 12 registered speakers, but only one shareholder was present to raise a query, which was satisfactorily answered. No queries were raised by unregistered speakers regarding the financial statements or the Annual Report 2025-26. The meeting concluded formally at 11:40 am.

What the numbers show

The divergence between promoter and public participation highlights the limited influence of minority shareholders on corporate governance decisions at Landmarc Leisure Corporation. While the promoter group voted on over 95% of their holdings, public shareholders exercised less than 0.03% of their voting rights. This disparity ensures that management proposals are virtually guaranteed to pass, regardless of public sentiment, as the promoter block alone commands more than half the total share capital.

Landmarc Leisure Corporation reported a net loss of ₹65.41 lakh for FY26, reversing a profit of ₹25.47 lakh in the prior year. The company scheduled its 35th Annual General Meeting (AGM) for September 24, 2026, to approve the financials and appoint new auditors.

Revenue from operations fell sharply to ₹6.93 lakh from ₹115.47 lakh in FY25. Other income rose to ₹28.72 lakh, driven by a ₹24.20 lakh profit on asset sales and interest income. Total expenses increased to ₹101.06 lakh, primarily due to employee benefit costs of ₹40.47 lakh and other operating expenses of ₹59.40 lakh.

Financial Performance

The decline in operational revenue significantly impacted profitability. While other income provided some offset, it was insufficient to cover the rise in total expenses against the backdrop of collapsing core revenues.

Auditor Appointments

Shareholders will vote to appoint M/s. S M M P & Company as Statutory Auditors for five years, replacing retiring firm S K H D & Associates. The annual remuneration is set at ₹80,000 plus taxes and expenses. Additionally, the company seeks approval to appoint M/s. M. K. Saraswat and Associates LLP as Secretarial Auditor for five years, with initial fees of ₹35,000 for FY27.

E-Voting Schedule

E-voting opens on September 21, 2026, at 9:00 am and closes on September 23, 2026, at 5:00 pm. The entitlement cut-off date is September 17, 2026. Shareholders holding physical securities are reminded to update KYC details to ensure electronic dividend payments.

What the Numbers Show

Other income constituted 80.6% of total revenue in FY26, highlighting a severe contraction in core operational earnings. The company’s reliance on non-operating gains to mitigate losses underscores the volatility in its primary business segments, particularly film rights sales which dropped from ₹113.04 lakh to ₹3.22 lakh.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE394C01023/6f1effd1-4103-4e67-bf14-5b80854f98b6.pdf