Premier Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
PREMIER · price
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Premier Limited, currently under Corporate Insolvency Resolution Process (CIRP) since January 29, 2021, submitted its audited FY25 results signed by Resolution Professional Ms. Kanak Jani. The company posted a net loss of Rs. 814 lakhs in FY25, narrower than the Rs. 1,041 lakh loss in FY24. Total income was a modest Rs. 107 lakhs versus Rs. 89 lakhs last year. Net worth is fully eroded at negative Rs. 36,018 lakhs, with total liabilities of around Rs. 52,130 lakhs far exceeding total assets of Rs. 18,338 lakhs. Manufacturing at the Chakan plant has remained suspended since March 2020 due to lack of working capital. The statutory auditor issued a Qualified Opinion citing going concern doubts, missing impairment assessment, non-compliance with Ind-AS 19 (employee benefits), and the absence of an internal auditor and a whole-time company secretary. The CoC-approved resolution plan from Fab Metals Pvt. Ltd. (with 92.47% assent) remains pending NCLT approval.
The stock remains a distressed asset with no operational activity, fully eroded net worth, and an unresolved insolvency process. While the narrower FY25 loss is marginally positive, the company's survival hinges entirely on NCLT approval of the pending resolution plan, after which shareholders could face significant dilution or near-total loss of value depending on the resolution terms.