The results have been attached herewith.
Awaiting price reaction for this filing.
PAE Limited's board approved standalone unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), reporting zero revenue and a net loss of ₹21.51 lakhs, compared to a profit of ₹1,375.50 lakhs in the preceding quarter. Revenue dropped from ₹61,421.91 lakhs in Q4 FY25 to nil, with only employee costs (₹4.35 lakhs) and other expenses (₹17.16 lakhs) recorded. The statutory auditor M/s J M Patel & Bros issued a Disclaimer of Opinion citing non-availability of confirmations/reconciliations for account balances, fixed assets written off with no realisation value, and inability to physically verify assets. The company recently emerged from the Corporate Insolvency Resolution Process (CIRP), with NCLT approving the resolution plan in November 2024 and control handed back to resolution applicant Shri Jatinbhai Ramanbhai Patel in May 2025. The board also appointed two new Independent Directors (CS Bhargavi Gupta and CS Akash Patel), reconstituted all board committees, and appointed internal and tax auditors.
For shareholders, the disclaimer of opinion and complete revenue collapse signal significant operational uncertainty post-insolvency, though the new management and fresh board structure indicate a restructuring phase. Existing public shareholders were allotted only 50,000 new shares (5% of post-restructuring capital) after all previous shares were cancelled, meaning substantial dilution has already occurred.