Nalin Lease Finance FY26 Audited Results Published; Net Profit at ₹317.91 Lakh
Nalin Lease Finance Limited approved its audited standalone FY26 financial results at a Board meeting on May 4, 2026, and published them in Western Times on May 5, 2026, per Regulation 47. FY26 net profit declined to ₹317.91 lakh from ₹352.34 lakh in FY25, while total income rose to ₹756.53 lakh from ₹729.50 lakh. Total assets expanded to ₹4,967.35 lakh and the loan book grew to ₹4,359.38 lakh as at March 31, 2026.
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Nalin Lease Finance Limited convened a Board of Directors meeting on May 4, 2026, commencing at 11:30 a.m. and concluding at 12:30 p.m., wherein the Board approved the audited standalone financial results for the quarter and year ended March 31, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory audit was conducted by M/s. Paresh Thothawala & Co., Chartered Accountants, Ahmedabad (Firm Registration No. 114777W), which issued an audit report with an unmodified opinion on the standalone financial results. Subsequently, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company informed BSE Ltd. that the audited financial results for the quarter and year ended March 31, 2026 were published in Western Times (English and Gujarati) newspapers on Tuesday, May 5, 2026. The communication was signed by Nikul Patel, Chief Financial Officer.
Financial Performance: Quarter and Year Ended March 31, 2026
The company's financial results reflect movements across income and expense lines for both the quarter ended March 31, 2026, and the full year ended March 31, 2026. The following table presents the key financial metrics (all figures in ₹ Lakhs):
| Metric: | Q4 FY26 (Audited) | Q3 FY26 (Unaudited) | Q4 FY25 (Audited) | FY26 (Audited) | FY25 (Audited) |
|---|---|---|---|---|---|
| Interest Income: | 169.42 | 172.32 | 154.04 | 648.33 | 590.05 |
| Other Revenue from Operations: | 9.73 | 8.34 | 19.00 | 34.37 | 48.52 |
| Net Gain/(Loss) on Fair Value Changes: | (81.85) | 8.44 | (51.03) | (13.87) | 3.72 |
| Total Revenue from Operations: | 97.30 | 189.09 | 122.01 | 668.83 | 642.28 |
| Other Income: | 74.60 | 3.79 | 6.22 | 87.70 | 87.22 |
| Total Income: | 171.90 | 192.89 | 128.24 | 756.53 | 729.50 |
| Finance Cost: | 19.85 | 17.82 | 5.57 | 53.15 | 40.89 |
| Impairment on Financial Instruments: | 22.71 | 10.11 | 11.10 | 50.45 | 29.11 |
| Employee Benefits Expenses: | 27.27 | 30.47 | 25.44 | 109.79 | 101.46 |
| Depreciation, Amortization & Impairment: | 5.45 | 5.36 | 3.97 | 17.21 | 15.92 |
| Other Expenses: | 29.19 | 25.76 | 26.73 | 112.34 | 99.44 |
| Total Expenses: | 104.47 | 89.51 | 72.82 | 342.94 | 286.82 |
| Profit Before Tax: | 67.43 | 103.37 | 55.42 | 413.59 | 442.69 |
| Current Tax: | 12.78 | 26.01 | 4.11 | 99.90 | 101.57 |
| Taxes of Earlier Periods: | 0.72 | — | 6.01 | 0.72 | 6.01 |
| Deferred Tax: | (20.42) | 2.32 | (12.19) | (4.95) | (17.23) |
| Net Profit for the Period: | 74.35 | 75.04 | 57.49 | 317.91 | 352.34 |
| Total Comprehensive Income: | 74.35 | 75.04 | 57.49 | 317.91 | 352.34 |
| Basic EPS (₹): | 1.13 | 1.14 | 0.88 | 4.85 | 5.37 |
| Diluted EPS (₹): | 1.13 | 1.14 | 0.88 | 4.85 | 5.37 |
| Paid-up Equity Share Capital: | 655.82 | 655.82 | 655.82 | 655.82 | 655.82 |
For the full year ended March 31, 2026, total income increased to ₹756.53 lakhs from ₹729.50 lakhs in the previous year. However, net profit for the year declined to ₹317.91 lakhs from ₹352.34 lakhs in FY25, reflecting higher total expenses of ₹342.94 lakhs compared to ₹286.82 lakhs in the prior year. Profit before tax for the year stood at ₹413.59 lakhs versus ₹442.69 lakhs in FY25. Basic and diluted earnings per share for FY26 were ₹4.85 each, compared to ₹5.37 each in FY25.
Balance Sheet Highlights as at March 31, 2026
The company's standalone balance sheet as at March 31, 2026, reflects significant growth in total assets. The following table summarizes key balance sheet items (all figures in ₹ Lakhs):
| Particulars: | March 31, 2026 (Audited) | March 31, 2025 (Audited) |
|---|---|---|
| Cash and Cash Equivalents: | 5.09 | 1.87 |
| Bank Balances (Other): | 77.98 | 72.52 |
| Investments: | 199.58 | 463.62 |
| Loans: | 4,359.38 | 2,972.14 |
| Other Financial Assets: | 42.81 | 10.97 |
| Total Financial Assets: | 4,684.84 | 3,521.12 |
| Total Non-Financial Assets: | 282.50 | 243.81 |
| Total Assets: | 4,967.35 | 3,764.93 |
| Borrowings (Other than Debt Securities): | 1,029.27 | 112.73 |
| Total Financial Liabilities: | 1,043.56 | 156.15 |
| Total Non-Financial Liabilities: | 100.20 | 103.10 |
| Equity Share Capital: | 655.82 | 655.82 |
| Other Equity: | 3,167.77 | 2,849.86 |
| Total Equity: | 3,823.59 | 3,505.68 |
| Total Liabilities and Equity: | 4,967.35 | 3,764.93 |
Total assets grew to ₹4,967.35 lakhs as at March 31, 2026, from ₹3,764.93 lakhs as at March 31, 2025. The loan book expanded notably to ₹4,359.38 lakhs from ₹2,972.14 lakhs. Borrowings (other than debt securities) increased substantially to ₹1,029.27 lakhs from ₹112.73 lakhs. Total equity stood at ₹3,823.59 lakhs, up from ₹3,505.68 lakhs in the prior year.
Cash Flow Summary for the Year Ended March 31, 2026
The cash flow statement for the year ended March 31, 2026, highlights the following key movements (all figures in ₹ Lakhs):
| Cash Flow Activity: | FY26 (Audited) | FY25 (Audited) |
|---|---|---|
| Net Cash Flow from Operating Activities: | (1,119.82) | (304.44) |
| Net Cash Flow from Investing Activities: | 236.94 | 559.84 |
| Net Cash Flow from Financing Activities: | 886.09 | (283.90) |
| Net Increase/(Decrease) in Cash & Equivalents: | 3.22 | (28.50) |
| Cash & Equivalents – Opening: | 1.87 | 30.37 |
| Cash & Equivalents – Closing: | 5.09 | 1.87 |
Net cash used in operating activities widened to ₹(1,119.82) lakhs in FY26 from ₹(304.44) lakhs in FY25, primarily driven by a significant increase in loans disbursed. Financing activities generated a net inflow of ₹886.09 lakhs, supported by proceeds from borrowings of ₹916.55 lakhs. Cash and cash equivalents at the end of the year stood at ₹5.09 lakhs, compared to ₹1.87 lakhs at the beginning of the year.
Auditor and Key Managerial Appointments
At the same Board meeting, the following appointments were approved for FY2026-27:
| Appointment: | Details: |
|---|---|
| Internal Auditors: | M/s. Ajaykumar J. Shah & Co., Chartered Accountants, Ahmedabad |
| Tax Auditors: | M/s. Paresh Thothawala & Co., Chartered Accountants, Ahmedabad |
| Effective Date: | May 4, 2026 |
M/s. Ajaykumar J. Shah & Co. was founded in Ahmedabad, Gujarat, by Ajaykumar J. Shah, and has been providing professional services guided by the values of integrity, independence, innovation, and excellence. M/s. Paresh Thothawala & Co. was founded in 1994 by Mr. Paresh Thothawala and offers a wide range of services including statutory audits, tax audits, internal audits, GST audits, and management consulting and advisory services.
The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013, and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is engaged primarily in the business of financing and accordingly there is no separate reportable segment as per Ind AS-108 dealing with Operating Segments.
Historical Stock Returns for Nalin Lease Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.19% | +7.22% | +18.40% | +0.79% | -21.59% | +113.33% |
How will Nalin Lease Finance manage the nearly 9x surge in borrowings to ₹1,029 lakhs, and what is its strategy to maintain a healthy debt-to-equity ratio as the loan book continues to expand?
Given the widening operating cash outflow of ₹1,119.82 lakhs driven by aggressive loan disbursements, how sustainable is this growth trajectory without additional equity capital raises in FY27?
With net profit declining 9.8% year-on-year despite revenue growth, what specific cost-control measures is management considering to reverse the trend of rising impairment charges and operating expenses?
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