I want to remove the company name from the lead standard page. since its mandatory and cant be removed from layout as well, can you guys suggest some changes that can be done like defaulting the Company name or specifically by using the vf page or something like that?
There is standard way to remove the company field from lead layout since it is mandatory. One way is to override lead page with custom VF or lightning component.
Based on the article present here
To remove the company field requirement you need to enable Person Account, A lead without a Company name is always converted to Person Account