Premier Limited clarifies NSE queries on FY23 results; company under insolvency process

Nclt Insolvency AdmittedRegulatory & Legal View source PDF Explain this filing

PREMIER · price

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Price reactionminutes from the announcement price · days from the prior close

-2.6%Reaction day

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prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.0%-1.6% vs market

On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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AI summary

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.

Likely market impact

Stock remains under insolvency process; future hinges on NCLT approval of the resolution plan already backed by creditors committee with 92.47 percent assent.