Gujarat Lease Financing Ltd (GLFL)
🎯 Key Takeaways
- Gujarat Lease Financing Ltd (GLFL) is in a state of financial distress with no operational business activities, sustained by passive income and accounting technicalities rather than genuine profitability. The company has been classified as a non-going concern due to liabilities exceeding assets and persistent accumulated losses, marking a critical phase of corporate wind-down rather than growth or recovery.
- ⚠️ 1) Persistent non-going concern status with liabilities exceeding assets poses existential risk to the company's legal and financial existence. 2) Abs
- Market Cap
- ₹15
- P/E Ratio
- 537.0
- P/B Ratio
- -2.00
- ROE
- -0.4%
- ROCE
- 0.4%
- Debt/Equity
- -2.06
- Promoter
- 45.7%
📖 The Story
Gujarat Lease Financing Ltd (GLFL) is in a state of financial distress with no operational business activities, sustained by passive income and accounting technicalities rather than genuine profitability. The company has been classified as a non-going concern due to liabilities exceeding assets and persistent accumulated losses, marking a critical phase of corporate wind-down rather than growth or recovery.
📰 What's Happening
Recent board meetings have focused on approving unaudited quarterly results showing widening losses, with Q1 FY26 reporting a loss of ₹8.03 lakhs amid liabilities surpassing assets. Shareholders recently approved key governance matters, including the reappointment of independent directors and adoption of financial statements, reflecting procedural compliance despite underlying financial fragility. The company continues to operate under a non-going concern basis, with no active business model or revenue-generating operations.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 |
| OPM % | — | — | — | — |
| Net Profit | 0 | 0 | 0 | -0 |
| EPS | ₹0.01 | ₹0.01 | ₹0.02 | ₹-0.03 |
Revenue has remained consistently zero across all reporting periods, with net losses emerging in the most recent quarter after a brief phase of zero-profit neutrality. The transition from small profits to measurable losses signals deteriorating financial health, and the company's reliance on accounting adjustments rather than operational revival underscores a lack of viable business revival strategies.
🔮 Management Outlook & What's Next
Management has not provided forward-looking operational guidance or strategic revival plans, instead focusing on procedural compliance, shareholder approvals, and regulatory adherence. Disclosures emphasize dematerialized trading and remote meeting protocols but offer no indication of business resumption or value creation initiatives, reflecting a passive stance in the face of structural decline.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2018 |
|---|---|
| Equity Capital | 27 |
| Reserves | -34 |
| Borrowings | 15 |
| Total Liabilities | 8 |
| Fixed Assets | 0 |
| Investments | 8 |
| Total Assets | 8 |
The balance sheet reveals a severely weakened financial position, with negative shareholder equity of ₹403.46 lakh and liabilities consistently exceeding assets. Capital is not being raised or deployed for growth, and there is no evidence of deleveraging or asset sales to stabilize the balance sheet, suggesting a strategy of passive endurance rather than active financial restructuring.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2018 |
|---|---|
| Operating | -0 |
| Investing | +0 |
| Financing | 0 |
| Net Cash Flow | +0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 45.7% | 45.7% | 45.7% | 45.7% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 50.5% | 50.3% | 49.9% | 49.9% |
| # Shareholders | 29,791 | 29,772 | 29,618 | 29,592 |
Promoter holding remains stable at 45.67%, indicating no immediate exit plans, but institutional interest is negligible with FII and DII ownership at 0% and 0.01% respectively. The slight decline in public shareholding and stagnant promoter stake, combined with a growing shareholder base, suggests limited investor confidence and minimal market interest in the company's current trajectory.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.06 L Cr | 29.8 | 10.4% | — | 3.82 |
| BAJAJFINSV | 2.79 L Cr | 27.4 | 11.4% | — | 5.50 |
| SHRIRAMFIN | 2.29 L Cr | 17.2 | 11.5% | — | 3.80 |
| ICICIAMC | 1.60 L Cr | 32.1 | 111.5% | — | 0.00 |
| JIOFIN | 1.44 L Cr | 67.7 | 2.3% | — | 0.17 |
| TATACAP | 1.41 L Cr | 25.7 | 8.4% | — | 5.28 |
| CHOLAFIN | 1.39 L Cr | 24.1 | 9.3% | — | 6.93 |
| BAJAJHLDNG | 1.19 L Cr | 13.4 | 12.4% | — | 0.00 |
| MUTHOOTFIN | 1.10 L Cr | 9.7 | 14.4% | — | 3.88 |
| PFC | 1.07 L Cr | 4.1 | 9.8% | — | 7.62 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent non-going concern status with liabilities exceeding assets poses existential risk to the company's legal and financial existence. 2) Absence of any operational business or revenue model eliminates the foundation for future recovery. 3) Heavy reliance on passive income and accounting treatments masks deeper structural decay, increasing vulnerability to regulatory or audit scrutiny.
📋 Recent Filings
- Announcement2026-09-25Gujarat Lease Financing Ltd announced the closure of its insider trading window effective October 1, 2026, until 48 hours after filing unaudited quart…
- 🟡 Board Meeting2026-07-30The board approved unaudited Q1 FY26 results showing a loss of **₹8.03 lakhs**, up from **₹5.86 lakhs** prior quarter, with accumulated losses exceedi…
- share transfer2026-07-14Gujarat Lease Financing Limited confirmed through its share transfer agent MCS Share Transfer Agent Limited that all securities dematerialized during …
- 🟡 Board Meeting2026-07-02Gujarat Lease Financing Limited announced the voting results for its 43rd Annual General Meeting held on July 2, 2026 via video conference. All four p…
- Financial Results2026-06-26Gujarat Lease Financing Limited announced that its trading window for designated persons will close on July 1, 2026, and remain closed until 48 hours …
- 🔴 annual report2026-06-09Gujarat Lease Financing Limited (GLFL) convened its 43rd Annual General Meeting on July 2, 2026 via video conference, offering remote e-voting from Ju…
- 🔴 Announcement2026-06-05No summary available
- 🟡 Board Meeting2026-04-30The board approved the audited financial results for Q4 and FY2026, confirming an unmodified audit opinion, and reappointed Animesh Mehta and Narayan …
- 🔴 Financial Results2026-04-30Gujarat Lease Financing Limited reported audited financial results for the quarter and year ended March 31, 2026, showing a net profit of Rs. 5.67 lak…
- share transfer2026-04-09Gujarat Lease Financing Limited confirmed through its share transfer agent MCS Share Transfer Agent Limited that 32% of dematerialized securities were…
🧠 Analyst's Read
The company exists in a precarious financial state with no visible path to operational or financial recovery, making it a high-risk entity for any investor. Key near-term triggers include potential delisting proceedings, audit qualifications, or regulatory actions stemming from its non-going concern classification and zero-revenue business model.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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