The company had no prescribed CSR obligation, expenditure or unspent amount in FY 2025-26 as Section 135 provisions were not applicable.
MUMBAI (India CSR): Ladam Affordable Housing Limited recorded nil Corporate Social Responsibility (CSR) spending during the financial year 2025-26 because the statutory CSR provisions were not applicable to the company, according to its 47th Annual Report. The company stated that it did not fall within the financial criteria prescribed under Section 135(1) of the Companies Act, 2013, during the year under review. Consequently, it was not required to incur the standard CSR expenditure of 2% of the average net profits earned during the three immediately preceding financial years.
Ladam Affordable Housing Limited is a Thane-based listed company focused on real estate and affordable housing. Incorporated in 1979, the company aims to monetise its real estate portfolio by developing mass housing projects under affordable housing schemes. Its registered office is located at Wagle Industrial Estate, Thane, Maharashtra.
The annual report did not disclose a prescribed CSR obligation, CSR expenditure, unspent amount or excess CSR spending for FY 2025-26. This effectively places the company’s CSR obligation and spending at zero for the year. Section 135 applies to a company that, during the immediately preceding financial year, has a net worth of at least Rs. 500 crore, turnover of at least Rs. 1,000 crore or net profit of at least Rs. 5 crore.
Ladam Affordable Housing said it did not meet these applicability criteria. It was therefore not required to constitute a CSR committee for the period under review. The company also reported that it had neither developed nor implemented any CSR initiatives because the relevant provisions were not applicable. No CSR projects, implementing agencies, ongoing programmes or impact assessments were disclosed in the annual report.
Spending Snapshot Provided
| CSR Particulars | FY 2025-26 |
|---|---|
| CSR applicability | Not applicable |
| Prescribed CSR obligation | Nil |
| Total CSR expenditure | Nil |
| Unspent CSR amount | Nil |
| Excess CSR spending | Nil |
| CSR initiatives implemented | None reported |
| CSR committee requirement | Not applicable |
Financial Performance Weakens
The absence of a CSR obligation came against the backdrop of a loss-making financial year. On a standalone basis, Ladam Affordable Housing reported total income of Rs. 15.64 lakh in FY 2025-26, marginally below Rs. 15.69 lakh in the previous year. The entire income for the year came from other income, as the company did not generate revenue from business operations. Its standalone loss after tax widened substantially to Rs. 1.96 crore from Rs. 8.20 lakh in FY 2024-25. The company reported an exceptional charge of Rs. 1.79 crore during the year, which had a material effect on its financial results.
On a consolidated basis, total income fell to Rs. 23.60 lakh from Rs. 63.06 lakh in the preceding year. The consolidated loss after tax increased to Rs. 27.69 lakh, compared with Rs. 5.03 lakh a year earlier.
Exceptional Provision Recognised
The exceptional standalone provision of Rs. 1.79 crore related to investments and loans involving Ladam Foods Private Limited, a subsidiary, and Lacon India Limited, an associate.The provision included Rs. 4.50 lakh towards the investment in Ladam Foods and Rs. 1.68 crore against a loan extended to it. It also included Rs. 3.90 lakh towards the investment in Lacon India and Rs. 2.06 lakh against a loan given to the associate.
Management determined that these carrying values were no longer recoverable following the cessation of operations and developments relating to the proposed closure of the entities.
Business Outlook Continues
Ladam Affordable Housing intends to monetise its real estate portfolio by entering the construction of mass housing projects under affordable housing schemes. However, the company did not generate operational revenue during FY 2025-26. Its current ratio stood at 0.91 times, while net worth declined by approximately 8% compared with the previous year. Standalone cash and cash equivalents were Rs. 1.35 lakh as of March 31, 2026, while consolidated cash and cash equivalents stood at Rs. 50.39 lakh.
Dividend Remains Unpaid
The board did not recommend a dividend for FY 2025-26 because the company incurred losses. No amount was transferred to the general reserve. The company’s issued, subscribed and paid-up share capital remained unchanged at Rs. 9.15 crore, divided into 1.83 crore equity shares with a face value of Rs. 5 each.
