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 has reported its annual results for FY2026 with a net loss of Rs. 587 Lakhs (vs Rs. 814 Lakhs in FY2025). Revenue from operations is nil as manufacturing at Chakan plant remains suspended since March 2020 due to lack of working capital. Other income of Rs. 280 Lakhs includes Rs. 164 Lakhs compensation received from Dedicated Freight Corridor Corporation. The company is under Corporate Insolvency Resolution Process (CIRP) since January 2021, with net worth completely eroded and liabilities exceeding asset values. The statutory auditors (Jayesh Dadia & Associates LLP) have issued a Qualified Opinion citing multiple issues including failure to assess asset impairment, incomplete employee benefit calculations, non-compliance with Companies Act provisions (no internal auditor/company secretary), and inability to verify CoC approvals. A Disclaimer of Opinion was also issued on internal financial controls. The Committee of Creditors has approved a resolution plan by Fab Metals Pvt. Ltd., with NCLT approval pending.
The stock faces extreme risk as the company is insolvent under CIRP with negative net worth. While loss narrowed year-on-year, operations are completely shut down and the outcome depends entirely on NCLT approval of the resolution plan. Shareholders face significant risk of value destruction.