Revised Board meeting outcome along with declaration of unmodified opinion
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Premier Energy submitted its FY2026 audited results (standalone and consolidated) on May 5, 2026, but BSE flagged missing declaration of unmodified audit opinion. This filing corrects that by confirming auditors N. Raghavan & Associates issued an unmodified (clean) opinion for both standalone and consolidated results. For standalone FY2026, total income was Rs. 215.56 lakhs (flat vs last year), but net loss was Rs. 72.33 lakhs versus profit of Rs. 73.19 lakhs in FY2025. Consolidated net loss was Rs. 109 lakhs versus profit of Rs. 20.60 lakhs in FY2025. Operating cash flow was negative at Rs. 151.28 lakhs (standalone) and Rs. 575.47 lakhs (consolidated). The company notes current liabilities exceed current assets significantly but says going concern assumption is valid due to promoter support and future plans.
The stock shows significant deterioration with losses and negative cash flows, but the clean audit opinion provides some comfort. The high promoter pledge (85.9% of promoter shares) and negative operating cash flows are concerns. Flat revenue indicates no business growth.