Oswal Leasing FY26 Results: Net loss widens 142% to ₹52.13 lakh

1 min read | Published on 27 Aug 2026, 07:41 PM |Updated on 27 Aug 2026, 07:41 PM

Reviewed by

Naman SScanX News Team

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Key Highlights

Net loss widened 142% YoY to ₹52.13 lakh from ₹21.55 lakh in FY25
Interest income fell 7.3% to ₹13.99 lakh while total expenses rose 11.9%
Total assets stood at ₹282.74 lakh with ₹181.00 lakh in loans
K R Aggarwal & Associates appointed as new statutory auditors

*this image is generated using AI for illustrative purposes only.

Oswal Leasing Limited reported a net loss of ₹52.13 lakh for the financial year ended March 31, 2026, widening significantly from the ₹21.55 lakh loss recorded in FY25.

The NBFC's total income contracted to ₹14.08 lakh, driven by a decline in interest income to ₹13.99 lakh from ₹15.09 lakh in the prior year. Despite the revenue drop, total expenses surged to ₹19.29 lakh from ₹17.25 lakh, primarily due to higher employee benefit costs and other operational expenses.

Financial Performance

Metric	FY26	FY25	Change
Revenue from Operations	₹13.99 lakh	₹15.09 lakh	-7.3%
Total Income	₹14.08 lakh	₹15.09 lakh	-6.7%
Total Expenses	₹19.29 lakh	₹17.25 lakh	+11.9%
Net Loss	₹52.13 lakh	₹21.55 lakh	+141.9%

Interest income, the primary revenue driver, fell by over 7% year-on-year. Employee benefit expenses rose to ₹10.66 lakh from ₹9.10 lakh, while other expenses increased to ₹8.63 lakh. The company earned no dividend income during the period.

What the Numbers Show

The widening loss reflects a divergence between revenue contraction and cost inflation. While interest income declined modestly, total expenses grew at nearly double that rate. Specifically, employee benefit expenses constituted approximately 55% of total costs in FY26, up from roughly 53% in FY25, indicating rising fixed cost pressure against shrinking top-line growth.

Balance Sheet and Auditor Changes

As of March 31, 2026, total assets stood at ₹282.74 lakh, with loans amounting to ₹181.00 lakh and investments at ₹86.08 lakh. The company holds no external borrowings or term loans, maintaining a debt-free balance sheet structure aside from minor operational liabilities.

The Board appointed M/s K R Aggarwal & Associates as statutory auditors to fill the casual vacancy caused by the resignation of M/s V. V. Bhalla & Co., effective August 10, 2026. Members will vote on this appointment at the 42nd Annual General Meeting scheduled for September 28, 2026.

Corporate Actions

Reappointment of Chairman Kamal Oswal by rotation.
Reappointment of Independent Directors Dr. Roshan Lal Behl and Dr. Manisha Gupta for a five-year term.
Approval sought for borrowing limits up to ₹100 crore and investments up to ₹30 crore under Section 180 and 186 of the Companies Act, 2013.

How will the newly approved borrowing limit of ₹100 crore be utilized to reverse the declining interest income trend in FY27?

What specific cost-control measures will management implement to address the rising employee benefit expenses that now constitute over 55% of total costs?

Could the recent change in statutory auditors signal underlying governance or compliance issues that might impact investor confidence?

Oswal Leasing Q1 Results: Net loss narrows to ₹1.07 lakh, auditors change

2 min read | Published on 11 Aug 2026, 06:42 PM |Updated on 11 Aug 2026, 06:42 PM

Reviewed by

Ashish TScanX News Team

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Key Highlights

Oswal Leasing Limited reported a Q1FY27 net loss of ₹1.07 lakh, improving from ₹0.71 lakh in Q1FY26, driven by reduced other expenses despite lower interest income. The Board accepted the resignation of statutory auditors V.V. Bhalla & Co. due to resource constraints and appointed K R Aggarwal & Associates as the interim statutory auditor. Additionally, independent directors Dr. Roshan Lal Behl and Dr. Manisha Gupta were re-appointed for five-year terms.

*this image is generated using AI for illustrative purposes only.

Oswal Leasing Limited reported a standalone net loss of ₹1.07 lakh for the quarter ended June 30, 2026 (Q1FY27), a slight improvement from the ₹0.71 lakh loss posted in the corresponding quarter of FY26. The Board of Directors approved these unaudited financial results on August 10, 2026, alongside significant changes to its statutory audit firm and independent director composition. The narrowed loss reflects a decline in total expenses to ₹4.37 lakh from ₹4.34 lakh in Q1FY26, despite a drop in interest income to ₹3.29 lakh from ₹3.63 lakh.

The Board also transacted business related to the resignation of M/s V.V. Bhalla & Co., Chartered Accountants (FRN: 002928N), the company’s statutory auditors. The firm tendered its resignation effective August 10, 2026, after issuing the limited review report for Q1FY27, citing pre-occupation with other professional assignments and an inability to allocate required resources. Pursuant to Section 139 of the Companies Act, 2013, and recommendations from the Audit Committee, the Board accepted the resignation and appointed M/s K R Aggarwal & Associates, Chartered Accountants (FRN: 030088N) as the new statutory auditors. The new firm will hold office until the conclusion of the 42nd Annual General Meeting (AGM), with shareholder approval sought for a five-year term thereafter.

Financial Performance Highlights

Total income from operations declined to ₹3.29 lakh in Q1FY27, down from ₹3.35 lakh in Q4FY26 and ₹3.63 lakh in Q1FY26. Interest income, the primary revenue driver, fell to ₹3.29 lakh from ₹3.63 lakh in the prior year. Total expenses decreased to ₹4.37 lakh from ₹5.10 lakh in the preceding quarter, driven by lower other expenses which dropped to ₹1.22 lakh from ₹2.38 lakh. However, employee benefit expenses rose to ₹3.15 lakh from ₹2.72 lakh.

Particulars	Q1FY27 (₹ Lakh)	Q4FY26 (₹ Lakh)	Q1FY26 (₹ Lakh)	FY26 (₹ Lakh)	FY25 (₹ Lakh)
Interest Income	3.29	3.26	3.63	13.99	15.09
Other Income	-	0.09	-	0.09	-
Total Income	3.29	3.35	3.63	14.08	15.09
Employee Benefits	3.15	2.72	2.71	10.66	9.10
Other Expenses	1.22	2.38	1.62	8.63	8.15
Total Expenses	4.37	5.10	4.34	19.29	17.25
Profit Before Tax	(1.07)	(1.75)	(0.71)	(5.21)	(2.16)

For the full financial year ended March 31, 2026 (FY26), Oswal Leasing reported a net loss of ₹5.21 lakh, widening from the ₹2.16 lakh loss in FY25. Total income for FY26 stood at ₹14.08 lakh, down from ₹15.09 lakh in FY25. Basic and diluted earnings per share (EPS) were negative ₹0.21 in Q1FY27, compared to negative ₹0.14 in Q1FY26.

Governance Changes

In addition to the auditor change, the Board re-appointed two independent directors for a second term of five years, effective August 12, 2026, subject to shareholder approval at the ensuing AGM. Dr. Roshan Lal Behl (DIN: 06443747) and Dr. Manisha Gupta (DIN: 06910242) were re-appointed based on the recommendation of the Nomination and Remuneration Committee. Both directors are not liable to retire by rotation during their new terms.

The 42nd Annual General Meeting is scheduled for September 28, 2026, at 02:30 P.M., to be conducted through Video Conferencing or Other Audio Visual Means (OAVM). The financial results were reviewed by the Audit Committee and taken on record by the Board on August 10, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

How might the transition from M/s V.V. Bhalla & Co. to M/s K R Aggarwal & Associates impact the rigor and timeline of future financial audits for Oswal Leasing?

Given the rising employee benefit expenses despite falling interest income, what strategic cost-control measures is management implementing to reverse the net loss trend in upcoming quarters?

Will the re-appointment of independent directors Dr. Roshan Lal Behl and Dr. Manisha Gupta bring new strategic initiatives to address the company's declining operational income?