1. At a Glance
₹158 crore market cap. ₹158 stock price. P/E of 492. Book value ₹10.5. Price-to-book 15x. ROE -15%. Quarterly PAT: ₹ -0.03 crore.
Ladies and gentlemen, welcome to the most dramatic rebranding attempt of the year.
In Q3 FY26 (December 2025 quarter), Yash Trading & Finance reported sales of ₹4.04 crore, operating loss of ₹0.03 crore, and EPS of -0.03. Meanwhile, the stock has delivered 129% 1-year return and 108% 3-year return — despite a business that officially had “no operations” not too long ago.
Promoter holding? Now 0%.
Earlier promoter? In jail.
New name proposal? Lexora Global.
New MOA? Renewable energy.
If this isn’t a Bollywood script disguised as a balance sheet, what is?
Ready to dissect this financial thriller?
2. Introduction – The Curious Case of the Vanishing Promoter
Incorporated in 1985, Yash Trading & Finance Ltd was supposed to be a finance company — lending, borrowing, advancing deposits. The usual NBFC playbook.
But here’s the twist:
The company officially had no business operations for years.
No revenue.
Net worth eroded.
Loss-making.
And then — boom — we suddenly see quarterly sales of ₹2.66 crore in Sep 2025 and ₹4.04 crore in Dec 2025.
What changed?
Well…
- The earlier promoter, Mr. Pradeep Kumar Sethy, who held 49% (and later 71.52%), was arrested in a governmental inquiry.
- By Mar 2025 onward, promoter holding dropped to 0%.
- Enforcement Directorate shows up in the shareholding pattern.
- Multiple resignations in Feb 2026.
- New directors appointed.
- New CFO appointed.
- Registered office shifted to Gujarat.
- MOA amended to include renewable energy.
- Proposed name change to Lexora Global.
This isn’t corporate evolution. This is corporate reincarnation.
Question for you: When a company changes its business, board, city, and name within weeks — are we witnessing transformation… or escape velocity?
3. Business Model – WTF Do They Even Do?
Officially?
- Financing industrial enterprises.
- Lending money.
- Raising deposits.
Reality?
The company admitted it had no business operations and was exploring options.
Now in Q3 FY26, revenue appears.
From where exactly?
The dump shows:
- TTM Sales: ₹6.70 crore
- Q3 FY26 Sales: ₹4.04 crore
But historically? Zero.
So the old finance company seems to be morphing into something new — possibly renewable energy (based on MOA alteration announcement).
So what do they do right now?
Short answer: It’s evolving.
Long answer: It looks like a shell that is being repurposed.
