Aban Offshore Limited has informed the Exchange regarding Board meeting held on February 13, 2026.
Awaiting price reaction for this filing.
Aban Offshore filed its Q3 FY26 results while under Corporate Insolvency Resolution Process (CIRP) initiated by NCLT on 1 September 2025 on a petition by Punjab National Bank. Consolidated total income for 9M FY26 fell to ₹323.6 crore from ₹547.1 crore a year ago, a drop of about 41%. The company reported a consolidated net loss of ₹530.7 crore for 9M FY26, though Q3 alone showed a profit of ₹29.6 crore versus large losses in prior quarters. Finance costs remained massive at ₹572 crore for 9M. The statutory auditor (Ford Rhodes Parks & Co. LLP) issued a Disclaimer of Conclusion on both standalone and consolidated results, citing absence of bank balance confirmations, overdue preference share investments of ₹9.4 crore, and a material uncertainty on going concern. The Singapore subsidiary Aban Holdings also received a disclaimer, with US$2.95 billion in net liabilities and defaulted borrowings.
This filing confirms the company is in severe financial distress under CIRP with eroded net worth, defaulted bank loans, and an auditor that refused to conclude on the financials. For shareholders, this signals extreme risk — existing equity is likely to be significantly impaired through the resolution process, and the stock remains highly speculative.