The intimation has been attached herewith.
Awaiting price reaction for this filing.
PAE Limited's board approved standalone unaudited Q1 FY26 results showing zero revenue from operations and a net loss of ₹21.51 lakhs (EPS: -2.15), compared to ₹61,421.91 lakhs revenue and ₹1,375.50 lakhs profit in Q4 FY25. The statutory auditor, J M Patel & Bros, issued a Disclaimer of Opinion on the limited review, citing inability to verify bank balances, fixed assets (fully written off as of 31/03/2025), revenue authority balances, and cash balances. The company recently emerged from the IBC insolvency process — NCLT approved the resolution plan on November 27, 2024, and control was handed over to successful resolution applicant Shri Jatinbhai Ramanbhai Patel in May 2025. As part of restructuring, old equity and preference shares were cancelled; existing public shareholders received 50,000 new shares (5% of post-restructuring capital) while the new promoter was allotted 9,50,000 shares. The board also appointed two new independent directors (Bhargavi Gupta and Akash Patel), reconstituted all board committees, and engaged PSG & Associates as internal auditor for five years.
Existing public shareholders have been significantly diluted to just 5% of post-restructuring equity, and the auditor's Disclaimer of Opinion raises red flags about the reliability of financial information. Zero revenue and a net loss in Q1 FY26 indicate the company is in a transitional/revival phase post-CIRP — near-term stock price action will depend on execution of the resolution plan and operational restart.