Shares of penny stock Golden Legand Leasing and Finance Ltd. surged 8.3% in Tuesday’s trade, reaching ₹9.46 apiece, after the company announced the incorporation of a wholly owned subsidiary to strengthen its digital financial services business. Today’s mark the second day of winning run for the stock.
The stock climbed to an intraday high of around ₹9.50 per share, extending investors’ interest following the company’s strategic expansion plans.
Strategic expansion
In a regulatory filing, the company said it has incorporated Gullakkart Private Limited as its wholly owned subsidiary (WOS), marking another milestone in its strategy to strengthen its digital financial services ecosystem and expand its technology-enabled lending business.
The newly incorporated subsidiary will support the company’s digital lending ecosystem and undertake activities related to digital payment solutions. It also intends to apply for a Prepaid Payment Instrument (PPI) licence from the Reserve Bank of India (RBI), subject to the necessary regulatory approvals.
According to the company, once the required approvals are received, the proposed PPI platform is expected to complement its existing lending business by facilitating digital payment solutions for customers, improving customer convenience and further strengthening its technology-driven lending ecosystem.
“The incorporation of the wholly owned subsidiary marks another significant milestone in the company’s strategy of strengthening its digital financial services ecosystem and expanding its technology-enabled lending business,” the company said in its exchange filing.
Golden Legand Leasing and Finance added that it will keep stock exchanges informed of any material developments regarding the proposed PPI platform as and when required under applicable regulations.
Golden Legand Q4 Results
The company reported a sharp improvement in its financial performance for both the March quarter, and the full financial year ended March 31, 2026, aided by a significant rise in revenue and improved profitability.
For the fourth quarter of FY26, the company reported revenue from operations of ₹13.55 crore, compared with ₹1.54 crore in the corresponding quarter last year, marking a growth of nearly 779%.
Profit after tax for the March quarter stood at ₹2.64 crore, compared with a net loss of ₹1.45 crore reported in the corresponding quarter of FY25. The turnaround was supported by strong revenue growth and better operating performance.
For the full financial year FY26, it reported revenue from operations of ₹18.36 crore, a substantial increase from ₹93.44 lakh recorded in FY25. The company reported a profit after tax of ₹10.30 crore for FY26, compared with a net loss of ₹2.20 crore in FY25, reflecting a significant turnaround in earnings.
Retail shareholders dominate ownership structure
According to Trendlyne data, the company’s entire shareholding is held by retail investors, with no promoter or institutional ownership. More than 100 retail shareholders holding shares worth over ₹2 lakh collectively owned a 59.84% stake in the company as of the March quarter.
The data further showed that Meena Ashok Shah, Naresh Kumar, Janki Mukundbhai Patel, and Shanser Pal Singh individually held stakes ranging between 1.64% and 2% at the end of the March quarter.
Meanwhile, 2,113 retail shareholders with holdings worth up to ₹2 lakh collectively owned a 13.33% stake in the company.
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