Golden Legand Leasing & Finance Limited (GLLFL) has reported a remarkable turnaround in its financial performance for the first quarter, alongside several significant board decisions that could shape the company's future.

Strong Financial Performance

GLLFL posted a robust profit of ₹491.37 crore for the quarter, marking a significant improvement from the loss of ₹159.90 crore reported in the previous quarter. This turnaround is particularly noteworthy given the company's performance in the same quarter of the previous year when it reported a profit of ₹57.50 crore.

The company's revenue from operations saw an exponential increase, surging to ₹3,595.12 crore from ₹154.27 crore in the previous quarter. This represents a staggering growth of over 2,230% quarter-on-quarter.

Key Financial Metrics

Board Decisions and Corporate Updates

The Board of Directors, in their recent meeting, made several key decisions:

1. Appointment of Secretarial Auditor: M/s. H. Maheshwari & Associates, Practising Company Secretaries, has been appointed as the Secretarial Auditor for a term of five consecutive financial years, subject to shareholder approval.

2. Relocation of Registered Office: The Board has approved shifting the registered office from Khar (West), Mumbai to Vashi, Navi Mumbai. This move is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

3. Revision in Managing Director's Remuneration: The Board has approved a revision in the remuneration of Ms. Divya Singh Kushwaha, Chairperson and Managing Director, subject to shareholder approval at the AGM.

Auditor's Observations

While the financial results paint a positive picture, it's important to note that the statutory auditors have issued a qualified review report. The auditors highlighted concerns regarding:

• The income recognition process and ongoing reconciliation efforts
• Lack of a system for periodic confirmation of balances
• Non-compliance with accounting standards regarding prior period adjustments

These qualifications suggest that there may be some areas requiring attention in the company's financial reporting and internal control systems.

Looking Ahead

The dramatic improvement in GLLFL's financial performance, coupled with the strategic decisions made by the Board, indicates a potentially transformative period for the company. However, the qualifications in the auditor's report underscore the importance of addressing certain financial reporting and control issues to ensure sustainable growth and investor confidence.

As Golden Legand Leasing & Finance moves forward, the implementation of these board decisions and the resolution of the auditors' concerns will be crucial factors to watch in the coming quarters.

Golden Legand Leasing & Finance Limited (GLLFL) has announced a significant move to bolster its financial position and support future growth initiatives. The company's Board of Directors has given the green light to raise funds up to Rs. 86.00 crores, subject to necessary approvals.

Key Details of the Fundraising Plan

• Approval Date: The decision was made during a board meeting held on August 07, 2025.
• Fundraising Amount: Up to Rs. 86.00 crores
• Purpose: To meet future business growth requirements
• Potential Fundraising Methods:
  • Rights issue
  • Private placement (including preferential allotment or qualified institutions placement)
  • Other permissible modes or a combination thereof

Flexible Approach to Fundraising

The company has outlined a versatile approach to raising capital, which may include:

• Issuing equity shares
• Offering convertible securities
• Issuing convertible debentures
• Offering warrants
• Issuing non-convertible debentures (which may include warrants)

GLLFL has stated that these securities may or may not be listed, depending on the final decision of the Board.

Regulatory Compliance and Approvals

The fundraising initiative is subject to several key approvals:

1. Shareholder approval through a special resolution
2. Compliance with the Companies Act, 2013
3. Adherence to SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
4. Other necessary statutory approvals

Next Steps

While no specific securities have been identified at this stage, the Board will finalize the exact combination of securities to be issued, along with detailed terms and conditions. This decision will be made in consultation with advisors and relevant authorities, taking into account prevailing market conditions and other factors to ensure the best interests of the company.

Board Meeting Details

| Aspect | Details | |:----------|:------------------------------------------|n| Date | August 07, 2025 | | Time | Commenced at 3:30 PM, concluded at 5:00 PM |

Investors and stakeholders can find more information about this development on the company's website at https://gllfl.com/ .

This strategic move by Golden Legand Leasing & Finance Limited demonstrates the company's proactive approach to securing funds for future growth. As the financial landscape continues to evolve, GLLFL's decision to explore various fundraising options showcases its commitment to maintaining financial flexibility and pursuing expansion opportunities.