Quarterly Result27 May 2026, 05:23 pm
Premier Ltd: FY26 Net Loss ₹587 Lakhs, Net Worth Eroded
AI Summary
Premier Ltd declared its audited financial results (standalone and consolidated) for the quarter and financial year ended March 31, 2026. The results were issued by Statutory Auditors M/s. Jayesh Dadia & Associates LLP. The company is under Corporate Insolvency Resolution Process (CIRP) since January 29, 2021, with the Resolution Professional managing the company's affairs. The auditor has issued a qualified opinion, noting that the company's net worth is completely eroded and it incurred a loss of ₹587 lakhs for the year ended March 31, 2026, raising doubts about its ability to continue as a going concern. The company has not assessed impairment of assets.
Key Highlights
- Premier Ltd's net worth has been completely eroded as of March 31, 2026.
- The company incurred a net loss of ₹587 lakhs for the year ended March 31, 2026.
- Auditors noted a material uncertainty regarding the company's ability to continue as a going concern.
- The company is under Corporate Insolvency Resolution Process (CIRP) since January 2021.
- Auditors issued a qualified opinion due to the eroded net worth and unassessed asset impairment.
Price Impact
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