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

Landmarc Leisure Corporation reported a net profit of ₹4.67 lakh for the quarter ended June 30, 2026 (Q1FY27), reversing a net loss of ₹18.81 lakh in the same period last year. The Mumbai-based entertainment company saw its revenue from operations rise to ₹29.54 lakh from ₹2.32 lakh in Q1FY26, driven primarily by its Motion Pictures business segment. Despite the operational improvement, the financial results carry significant caveats, including a qualified auditor’s opinion regarding unregularized interest-free loans and substantial security deposits held with entities under insolvency proceedings.

The Board of Directors approved the unaudited financial results and the Directors’ report for the fiscal year ended March 31, 2026, during a meeting held on August 11, 2026. In compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, the Board appointed M/s. S M M P & Company as Statutory Auditors for five years, subject to shareholder approval. Additionally, M/s. M. K. Saraswat & Associates LLP was appointed as Secretarial Auditors for a five-year period from April 1, 2026, to March 31, 2031.

Financial Performance Highlights

Revenue from operations stood at ₹29.54 lakh in Q1FY27. The Motion Pictures Business contributed ₹26.24 lakh, while Consultancy Services added ₹0.75 lakh. Other income accounted for ₹2.55 lakh. Total expenses were ₹24.87 lakh, comprising employee benefit expenses of ₹7.46 lakh, depreciation of ₹0.40 lakh, and other expenses of ₹17.01 lakh. The company reported no finance costs or tax expenses for the quarter.

Auditor Qualifications and Risk Factors

M/s. S K H D & Associates, the statutory auditors, issued a qualified review report citing four primary issues:

1. Unregularized Loans: Interest-free loans totaling ₹476.10 lakh were provided to four parties. Term sheets are still being regularized, preventing verification of compliance with Ind AS 109.
2. IBC Deposit – SKM Real Infra: A deposit of ₹2,218.28 lakh remains with SKM Real Infra Limited, which is under resolution under the Insolvency and Bankruptcy Code (IBC). The company has filed a claim of ₹6,376.71 lakh but has not provided for doubtful debts on the deposit balance.
3. IBC Deposit – Shree Ram Urban Infrastructure: A security deposit of ₹1,500 lakh is held by Shree Ram Urban Infrastructure Limited, which has gone into liquidation. Confirmation is unavailable, and no provision has been made.
4. Gratuity Provision: The company did not conduct an actuarial valuation as per Ind AS 19, relying instead on management estimates. The shortfall in this provision is currently unascertainable.

Strategic Shifts and Fund Utilization

Management indicated a strategic pivot away from wellness activities toward films, media, and TV channel businesses. Consequently, the company is restructuring agreements related to wellness centers to reallocate resources effectively. Discussions are ongoing to resolve the status of advances given to SKM Real Infra and Shree Ram Urban Infrastructure.

Regarding funds raised through a preferential issue on October 6, 2025, the company utilized ₹18.98 crore out of the total ₹19.98 crore raised. The funds are allocated for creating Marathi and Hindi movie content libraries, music content, and general corporate purposes. No deviation in the utilization of these funds was reported.