Unaudited financial results for the quarter ended june 2025.
Awaiting price reaction for this filing.
Aban Offshore reported standalone Q1 FY26 total income of Rs 281.73 million, down from Rs 458.34 million a year earlier, with a small standalone net profit of Rs 40.19 million. On a consolidated basis, the company posted a massive net loss of Rs 2,528.12 million (EPS of minus Rs 43.32), weighed down by finance costs of Rs 2,798 million and huge losses at its Singapore subsidiary Aban Holdings, which alone lost USD 330 million in the quarter. Net worth is deeply negative at minus Rs 9,944 million standalone and minus Rs 25,402 million consolidated, and the debt-equity ratio is reported as negative. The statutory auditor issued a qualified opinion on standalone results over non-receipt of bank balance confirmations covering Rs 4,006 million of borrowings, and a disclaimer of conclusion on consolidated accounts due to material uncertainties at the foreign subsidiary.
Shareholders should note serious going-concern flags: the company has defaulted on loan repayments, interest, dividends, and Rs 2,810 million of preference share redemptions; preference shares carry a CARE D rating. With deeply negative net worth, mounting losses at the Singapore subsidiary, and unresolved debt restructuring, the stock carries significant solvency and dilution risk until the debt resolution plan is approved.