Premier Limited Reports Q2 FY27 Unaudited Results Amidst CIRP
Premier Limited reported unaudited standalone and consolidated results for the quarter ended September 30, 2026. The company is under CIRP. For the half-year, the loss before tax was ₹2.91 crore. Auditors issued a qualified report highlighting concerns about going concern status and asset impairment.
The announcement pertains to the financial results of a company in CIRP, with significant auditor qualifications and ongoing operational challenges. This has a high impact on stakeholders due to the severe financial distress and uncertainty surrounding the company's future.
The company is undergoing CIRP, has a completely eroded net worth, suspended operations due to lack of working capital, and incurred losses. The auditor's report is qualified, raising significant concerns about the company's ability to continue as a going concern.
Premier Limited announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) as per the NCLT order dated January 29, 2021. Consequently, the powers of the Board of Directors are suspended and managed by the Resolution Professional.
The company reported a loss before tax of ₹2.91 crore for the half-year ended September 30, 2026, compared to a loss of ₹2.36 crore in the corresponding period of the previous year. For the quarter ended September 30, 2026, the loss before tax was ₹1.15 crore.
The auditors, M/s. Jayesh Dadia & Associates LLP, issued a qualified limited review report. They highlighted that the company's net worth has been completely eroded and operations remain suspended due to a lack of working capital, indicating a material uncertainty about the entity's ability to continue as a going concern. The auditors were unable to assess the impairment of assets and noted that the company has not appointed an internal auditor as required.
There has been a delay in transferring unclaimed matured fixed deposits and interest amounting to ₹46.55 lakhs to the Investor Education & Protection Fund (IEPF). The company is in the process of transferring this amount.
The Committee of Creditors (CoC) had previously approved a resolution plan submitted by Fab Metals Pvt Ltd in January 2022, and the approval from NCLT is currently in progress.
The board meeting commenced at 2:30 p.m. and concluded at 06:15 p.m. on November 5, 2026.
What to do with a filing like this
Premier Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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