**Landsmill Green Limited** is an Indian listed multi-business enterprise currently undergoing a radical strategic transformation. Historically rooted in **Infrastructure**, **IT/BPO**, and **Real Estate**, the company is pivoting toward **Green Energy**, **Agro-based food products**, and **Energy distribution**. This transition is supported by a massive expansion of authorized capital and a complete overhaul of corporate leadership. --- ### **Strategic Pivot: The Transition to Green Energy** The company is executing a comprehensive rebranding and operational shift to align with the global transition toward sustainability. * **Corporate Rebranding:** Following its change from **Excel Realty N Infra Limited** to **Landsmill Green Limited**, the Board has approved further potential name changes to **Poweris Green Energies Limited**, **Voltasure Green Energies Limited**, or **Ecovira Green Energies Limited** (pending regulatory approval as of **March 2026**). * **Object Clause Expansion:** The Memorandum of Association has been amended to include **10 new sub-clauses** targeting: * **Energy & Engineering:** Consultation and execution for **electrical power** and renewable energy; establishing distribution networks and trading platforms. * **Agro & Food Processing:** Manufacturing, trading, and packing of rice, wheat, dairy, poultry, and seafood. * **Beverages & Instant Foods:** Production of mineral water, health supplements, and baby foods. * **Operational Centralization:** The registered office was shifted to **Solaris No. 1, Powai, Mumbai** in **November 2025** to streamline the management of these new verticals. --- ### **Capital Structure and Aggressive Fundraising** To fund its entry into the green energy and infrastructure sectors, the company has significantly increased its financial capacity. | Metric | Previous Limit | Current/Proposed Limit | | :--- | :--- | :--- | | **Authorized Share Capital** | **₹150 Crore** | **₹75,000 Crore** (Approved **Dec 2025**) | | **Borrowing Limits** | - | **₹500 Crore** | | **QIP Fundraising Target** | - | **₹2,500 Crore** | | **NRI/OCI Investment Limit** | **10%** | **100%** | | **FII/FPI Investment Limit** | **24%** | **100%** | * **Share Capital Details:** As of March 31, 2025, the **Paid-up Capital** stands at **₹141.07 crore**, comprising **141.07 crore equity shares** (Face Value **₹1/-**). * **Historical Actions:** The company executed a **1:10 stock split** and a **1:2 bonus issue** in **September 2022** to enhance liquidity. Currently, **99.75%** of shares are dematerialized. --- ### **Segmented Operational Performance** The company’s revenue mix is shifting as it moves away from legacy IT services toward trading and infrastructure. | Segment | Nature of Operations | FY 2024-25 Revenue (₹ '000) | FY 2023-24 Revenue (₹ '000) | | :--- | :--- | :--- | :--- | | **General Trading** | Trading of various goods and commodities. | **1,24,673.23** | **NIL** | | **Infrastructure** | Development of facilities; leveraging **PM Awas Yojana Urban 2.0**. | **11,595.72** | **25,768.26** | | **IT / BPO** | Inbound/outbound customer care (Currently inactive). | **NIL** | **NIL** | * **Infrastructure Strategy:** The company is targeting the **₹10 lakh crore** government investment in urban housing to revitalize this segment. * **IT/BPO Outlook:** While currently stagnant, the company plans to expand customer care services into international markets to generate foreign exchange revenue. * **Trading Growth:** Driven by rising household incomes and a robust service sector in India. --- ### **Financial Health and Efficiency Ratios** The company has transitioned from a consolidated loss to a profit in the most recent fiscal year, driven by a surge in operational volume. | Metric (Consolidated) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Total Income** | **₹18.84 crore** | **₹6.00 crore** | **₹9.70 crore** | | **Net Profit / (Loss)** | **₹69.13 Lakhs** | **(₹96.78 Lakhs)** | **(₹33.43 Lakhs)** | **Key Efficiency Indicators:** * **Debtors Turnover Ratio:** Improved to **3.71** (from **0.48** in FY24), reflecting faster collections and higher sales. * **Inventory Turnover Ratio:** Increased to **9.78** (from **6.03** in FY24), indicating higher consumption of goods. * **Dividend Policy:** No dividends have been recommended for **three consecutive years** to retain capital for the green energy pivot. --- ### **Governance and Leadership Restructuring** A new leadership team was installed in late **2025** to steer the company through its transformation: * **Mr. Ankit Mehra:** Re-designated as **Managing Director** (Nov 2025). * **Mr. Garvit Agarwal:** Appointed as **Whole Time Director** for a 3-year term. * **Mr. Lakhmendra Khurana:** Transitioned from CMD to **Director**. * **Independent Oversight:** Induction of **Ms. Runel Saxena**, **Mr. Arihant Bhansali**, and **Mr. Prashant Kumar Jain** to the Board for 5-year terms. --- ### **Risk Profile and Regulatory History** Investors should note significant historical and operational risks: **1. Regulatory Sanctions:** * **SEBI Order (July 2023):** Imposed a **₹10 Lakh** penalty on the company and a **6-month market ban** for financial misstatements between **FY 2016-17 and FY 2020-21**. Promoters faced bans of **1–2 years** and penalties of **₹145 Lakh**. * **Current Status:** The **Securities Appellate Tribunal (SAT)** stayed the order in **September 2023** pending a final hearing. * **Exchange Penalties:** In **August 2025**, **NSE** and **BSE** fined the company **₹2,58,000** for non-compliance with committee composition regulations. **2. Asset Quality and Recoveries:** * **Historical Advances:** Auditors previously flagged **₹121 Crore** (approx. **67% of assets**) advanced to **26 entities** between 2008–2011, many of which were later "struck-off." * **Subsidiary Transactions:** A **₹22.91 Crore** interest-free loan to Dubai-based **Excel Info FZE** was reportedly recovered by **February 2026**, yielding a total return of **₹41.51 Crore**. * **Credit Risk:** The company maintains a **10% Expected Credit Loss (ECL)** provision (**₹2.17 Crore**) against dues from entities in NCLT proceedings. **3. Operational Risks:** * **Execution:** Real estate projects face risks of **labor shortages** and **land acquisition disputes**. * **Market Volatility:** Exposure to **USD/INR exchange rates** (affecting BPO/Dubai operations) and high **attrition rates** in leadership and technical roles.