Outcome of Board Meeting held on May 27, 2026 Audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2026.
PREMIER · price
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Premier Limited, under Corporate Insolvency Resolution Process (CIRP) since January 2021, has reported a net loss of Rs. 587 Lakhs for FY2026 (reduced from Rs. 814 Lakhs loss in FY2025). Revenue from operations is NIL as manufacturing remains suspended since March 2020. Total income of Rs. 280 Lakhs includes Rs. 164 Lakhs compensation received from government for land acquisition. The company's net worth has been completely eroded with total liabilities (Rs. 52,266 Lakhs) far exceeding total assets (Rs. 17,887 Lakhs). The Resolution Professional has signed the results as Board powers are suspended. The Committee of Creditors (CoC) approved a resolution plan submitted by Fab Metals Pvt. Ltd., with NCLT approval still pending. Auditors issued a Qualified Opinion citing going concern doubt, non-assessment of asset impairment, non-compliance with labour codes, and absence of internal auditor and company secretary.
Shareholders face extreme risk as the company has negative net worth of Rs. 37,419 Lakhs, ongoing insolvency proceedings, and suspended operations. The stock is essentially a speculative bet dependent entirely on NCLT approval of the resolution plan. Any further delays in resolution could lead to liquidation.