This is in continuation to our intimation dated 21st May 2026 u/r 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the declaration of results on ....
PREMIER · price
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Premier Ltd, under Corporate Insolvency Resolution Process (CIRP) since January 2021, reported a net loss of Rs. 587 Lakhs for FY 2026 versus Rs. 814 Lakhs loss in FY 2025. Total income increased to Rs. 280 Lakhs from Rs. 107 Lakhs, aided by Rs. 164 Lakhs compensation received from DFCC. The company's net worth has been completely eroded with negative reserves of Rs. 44,545 Lakhs, while total liabilities (Rs. 52,266 Lakhs) far exceed total assets (Rs. 17,887 Lakhs). Statutory auditors Jayesh Dadia & Associates LLP issued a Qualified Opinion citing going concern doubts, non-assessment of asset impairment under Ind-AS 36, and multiple non-compliances with Companies Act provisions. Manufacturing remains suspended since March 2020. A resolution plan by Fab Metals Pvt. Ltd. approved by 92.47% CoC assent awaits NCLT approval.
The company continues to operate under insolvency with suspended operations. The qualified audit opinion and eroded net worth signal extreme financial distress. Shareholders face significant risk as the resolution plan awaits final NCLT approval, which will determine the company's future structure.