Landmarc Leisure Corporation Limited

Communication Services — Entertainment · BSE

₹2.71+₹0.10 (+3.83%)

DalalBaazaar Score

30 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by high debt relative to equity, negative free cash flow, the company is currently loss-making.

In simple words: The company is currently losing money, though profits are falling even as sales grow. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:47 pm

Understanding the Business

Company site ↗

The 60-second version of Landmarc Leisure Corporation Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Landmarc Leisure Corporation Limited engages in the entertainment, wellness, and education businesses in India. The company is involved in the development, production, marketing and distribution of feature films, documentaries, short films.

IndustryEntertainment

SectorCommunication Services

Employees4

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹-944 reaches shareholders as profit, with ₹-1228 left at the operating level before interest, tax and depreciation. Each of its 4 employees supports ₹1.7 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹1.7 lakh

Who are its competitors?

The closest listed comparisons in its industry are BHARTI AIRTEL LIMITED, VODAFONE IDEA LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of -1.4% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE20.2%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -94% while net margin moved +189% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-94%

Margin effect+189%

DalalBaazaar Score

30/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 59.8% a year
✗ Profit fell 356.8% in the latest year

Quality vs. Valuation

Company Quality

32/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

21/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

—

PEG

—

What's Good / What's Bad

🟢 What's Going Well3

Debt is being paid down
Total debt is down 75% over 3 years.
Return on equity is rising
ROE has improved from -13.4% to -1.5%.
Return on capital is rising
ROCE has improved from -9.5% to -1.4%.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

9 items require attention · 7 high · 2 watch

🔴High leverageFinancial
Debt/Equity of 6.84x — earnings must service borrowings before shareholders see anything.
🔴Thin interest coverageFinancial
Operating profit covers interest only -30.8x — little room if earnings dip.
🔴Free cash flow negative for 4 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🔴The company is lossmakingFinancial
Net profit of -₹1 Cr in the latest reported year.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 908.3 points, from -319.6% to -1227.8%.
🔴Receivables growing faster than salesFinancial
Receivables up 696% against revenue up -94% — sales are being booked faster than they are collected.
🔴Inventory building faster than salesFinancial
Inventory up 50% against revenue up -94% — stock may not be moving.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from 10.3x to -30.8x.
🟡Shareholders have been dilutedOwnership
Shares outstanding are up 23% over 3 years — each existing share owns a smaller slice of the company.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Deleveraging frees up earnings
Debt is down 75% over 3 years. Every rupee of interest not paid drops to the bottom line, so profit can grow even if revenue does not.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from -319.6% to -1227.8%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Leverage amplifies any setback
Debt/Equity of 6.84x. Interest is payable whether or not the business has a good year.
Sales are being booked faster than collected
Receivables are up 696% against revenue up -94%. If customers keep taking longer to pay, reported profit will not turn into cash — and write-offs follow if some never do.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above -1230%✓ -1227.8%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹4 Cr
Profit that never becomes cash eventually stops being profit.
3Interest cover stays above 3x✗ -30.8x
How much operating profit can fall before interest stops being comfortably covered.
4ROCE stays above 8%✗ -1.4%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

5 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

1 good · 2 neutral · 8 weak

Market Cap

₹266 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

6.06x

Rich

Steep premium to book — needs high, durable returns to justify

EPS (TTM)

₹-116.97

Loss-making

Negative earnings per share — the business is losing money

ROE

-1.5%

Weak

Weak capital efficiency

ROCE

-1.4%

Weak

Low return on total capital employed

Debt/Equity

6.84x

High

High leverage

Revenue Growth (YoY)

2309.8%

Healthy

Healthy top-line growth

Profit Growth (YoY)

-356.8%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹4 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

17.3%

Good

Healthy core-business profitability

Net Margin

-130.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

3.36

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.06

Defensive

Steadier than the market

52W Range Position

51%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

2.1 / 2.1

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

85.7

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹1 Cr	₹0 Cr	₹1 Cr	₹0 Cr	-59.8%
EBITDA	-₹3 Cr	-₹1 Cr	₹0 Cr	-₹1 Cr	—
EBITDA Margin	-319.6%	-144.7%	18.7%	-1227.8%	—
PAT (Net Profit)	-₹3 Cr	-₹1 Cr	₹0 Cr	-₹1 Cr	—
EPS	₹-0.04	₹-0.01	₹0	₹-0.01	—
ROE	-13.4%	-3.0%	1.0%	-1.5%	—
ROCE	-9.5%	-2.0%	0.8%	-1.4%	—
Total Debt	₹12 Cr	₹12 Cr	₹13 Cr	₹3 Cr	-36.6%
Free Cash Flow	-₹4 Cr	-₹1 Cr	-₹1 Cr	-₹4 Cr	—

🔴 Revenue has shrunk at 59.8% a year over 3 years.

🔴 EBITDA Margin has fallen from -319.6% to -1227.8% over 3 years (-908.3 pts).

🟢 ROE has risen from -13.4% to -1.5% over 3 years (+11.9 pts).

🟢 ROCE has risen from -9.5% to -1.4% over 3 years (+8.0 pts).

🟢 Total Debt has shrunk at 36.6% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹49 Cr

Total Liabilities

₹5 Cr

Cash & Equivalents

₹2 Cr

Operating Cash Flow

-₹4 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

90.2%

Corporate Actions

Ex-Dividend Date

13 May 2002

Peer Comparison

Company	P/E	ROE
BHARTI AIRTEL LIMITED	39.8x	20.2%
VODAFONE IDEA LIMITED	3.6x	—

Recent News

3 mixed3 general

Landmarc Leisure Share Price rises as valuation is tracked

Univest, 15 OctPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

LANDMARC LEISURE CORPORATION L Share Price

Upstox, 05 May

Excel Realty N Infra - Bull run: 5 penny stocks under Rs 5 jump up to 225% in 1 year, turning multibaggers

The Economic Times, 15 Sept

KD Leisures reports standalone net profit of Rs 0.08 crore in the June 2026 quarter

Business Standard, 12 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Bodhtree Consulting reports standalone net loss of Rs 1.46 crore in the June 2026 quarter

Business Standard, 12 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

UFO Stock Price and Chart — NSE:UFO

TradingView, 29 Jul

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

MiddlingFinancial Health

WeakBusiness Quality · Growth · Profitability · Valuation · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 7 high-severity red flags sit above this conclusion and should be read first.

3 of 4 tripwires tripped — Free cash flow remains positive; Interest cover stays above 3x; ROCE stays above 8% · see Key things to watch ↑