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Lloyds Luxuries Ltd

| Statement of Profit & Loss – Period Ended March 31, 2026

Report Source

⬤16th Apr 26

Summary : Lloyds Luxuries Limited reported a significant loss for FY26 due to a large write-off of intangible assets, despite strong sales growth, with an unmodified audit opinion.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Total Expenses: ₹6,401.36 Lakhs (FY26), ₹5,348.97 Lakhs (FY25)
  2. Operating Expenses: ₹2,986.01 Lakhs (FY26)
  3. Employee Benefit Expense: ₹2,041.33 Lakhs (FY26)
  4. Depreciation and Amortization Expense: ₹419.53 Lakhs (FY26)
  5. Other Expenses: ₹933.85 Lakhs (FY26)
  6. Revenue from Operations: ₹6,079.12 Lakhs (FY26), ₹4,630.37 Lakhs (FY25)
  7. Other Income: ₹33.53 Lakhs (FY26), ₹36.56 Lakhs (FY25)
  8. Net Cash from Operating Activities: ₹414.47 Lakhs (FY26), ₹37.07 Lakhs (FY25)
  9. Net Cash from Investing Activities: (₹781.11) Lakhs (FY26), (₹547.64) Lakhs (FY25)
  10. Net Cash from Financing Activities: ₹34.43 Lakhs (FY26), ₹1,016.80 Lakhs (FY25)
  11. Net Increase in Cash & Cash Equivalents: (₹332.21) Lakhs (FY26), ₹506.24 Lakhs (FY25)
  12. Share Capital: ₹2,413.49 Lakhs (Mar 2026), ₹2,386.37 Lakhs (Mar 2025)
  13. Reserves and Surplus: ₹955.83 Lakhs (Mar 2026), ₹4,325.84 Lakhs (Mar 2025)
  14. Total Equity and Liabilities: ₹4,242.97 Lakhs (Mar 2026), ₹7,409.41 Lakhs (Mar 2025)
  15. Total Assets: ₹4,242.97 Lakhs (Mar 2026), ₹7,409.41 Lakhs (Mar 2025)
  16. Terms & conditions for various related party transactions were considered and approved.
  17. Financial results are Standalone.

Corporate Overview

  1. Significant write-off of previously recognized marketing, branding, and pre-operative expenditures impacting reported loss.
  2. Formal and procedural, focusing on regulatory compliance and financial reporting.
  3. IPO funds utilized for financing expenditure for opening new stores.

Risk Factors

  1. Significant write-off of intangible assets.
  2. Substantial impact on reported loss.
  3. Past accounting treatment concerns.
  4. Decreased reserves and surplus.

Key Drivers

  1. 36% sales growth in half-year.
  2. Unmodified audit opinion received.
  3. New internal auditors appointed.
  4. IPO funds utilized for new stores.

Auditor’s Report

  1. Unmodified opinion on the Audited Standalone Financial Results.
  2. Attention drawn to Note 13 regarding the write-off of ₹3,220.49 Lakhs for marketing, branding, and pre-operative expenditures, which significantly impacted the reported loss.

Board Commentary

  1. Appointment of M/s. Todarwal & Todarwal LLP as Internal Auditors for FY 2026-27.
  2. Write-off of ₹3,220.49 Lakhs for marketing, branding, and pre-operative expenditures.
  3. Reassessment of expenditures as per National Stock Exchange of India communication and Accounting Standard 26.
  4. Utilization of IPO proceeds for opening new stores, repaying short-term borrowings, meeting working capital, and general corporate purposes.

Corporate Governance

  1. Audit Committee reviewed and approved financial results.
  2. Nomination & Remuneration Committee allotted ESOPs.

Management Discussion & Analysis

Performance Drivers

  1. 36% growth in sales for the half year ended 31st March 2026 compared to the previous year.

Critical Risks

  1. Substantial impact on reported loss due to significant write-off of intangible assets.
  2. Past accounting treatment of expenditures questioned by NSE.