Financials results for the quarter ended 30th September 2025.
Awaiting price reaction for this filing.
Aban Offshore reported Q2/H1 FY26 results while already under Corporate Insolvency Resolution Process (CIRP), which the NCLT admitted on 1 September 2025 and for which an Interim Resolution Professional was appointed on 10 October 2025. Standalone income from operations fell to ₹310.27 million in Q2 from ₹392.84 million a year ago, and the company swung to a net loss of ₹99.37 million versus a profit of ₹1,640.59 million in Q2 FY25. Net worth is deeply negative at ₹(10,002.75) million against borrowings of ₹6,958 million and the company has defaulted on term loan repayments. The auditor issued a qualified opinion due to non-receipt of bank balance confirmations (₹147.21 million in deposits and ₹4,148.03 million in bank borrowings) and flagged material going concern uncertainty. On a consolidated basis, the loss widened sharply to ₹(5,602.54) million with negative operating cash flow of ₹(498.87) million, and the foreign subsidiary auditor issued a disclaimer of conclusion.
Shareholders face a high-risk situation as the company is in insolvency proceedings with deeply eroded net worth and an uncertain ability to continue operations; expect potential equity dilution or significant losses depending on the CIRP resolution outcome.