Integrated Filing (Financial) for the quarter ended 31st December 2025.
Awaiting price reaction for this filing.
Aban Offshore submitted its Q3 FY26 results, signed by Resolution Professional Shailesh Desai since the company is under Corporate Insolvency Resolution Process (CIRP) admitted by NCLT Chennai on 1 September 2025 after Punjab National Bank's petition. Consolidated total income for the quarter fell to Rs. 997.38 million from Rs. 1,203.64 million a year ago, while nine-month income dropped sharply to Rs. 3,236.01 million from Rs. 5,471.08 million. The company reported a nine-month consolidated loss of Rs. 5,306.98 million with negative reserves of around Rs. 21,803 crore and massive finance costs of Rs. 5,719.37 million for nine months. The auditor (Ford Rhodes Parks & Co. LLP) issued a Disclaimer of Conclusion on both standalone and consolidated results, citing non-receipt of bank balance confirmations, going concern uncertainty, overdue investments of Rs. 94.34 million, and unredeemed preference shares of Rs. 2,810 million. Net worth is fully eroded and current liabilities exceed current assets.
Existing shareholders face extreme risk as the company is in insolvency proceedings with fully eroded net worth and a disclaimer audit opinion; the outcome of CIRP will determine whether shareholders retain any value, and the stock is effectively in distressed territory.