Premier Limited clarifies NSE queries on FY23 results; company under insolvency process
PREMIER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Premier Limited, under Corporate Insolvency Resolution Process since January 2021, clarified NSE queries on FY23 financial results. The company operates in a single Engineering segment and the Resolution Professional had signed the results. FY23 results showed revenue of Rs. 35 lakhs and net loss of Rs. 1,365 lakhs, with net worth fully eroded. The Committee of Creditors approved Fab Metals Pvt Ltd resolution plan with 92.47 percent assent, but NCLT approval is still pending. Manufacturing operations remain suspended since March 2020.
Stock remains under insolvency process; future hinges on NCLT approval of the resolution plan already backed by creditors committee with 92.47 percent assent.