Integrated Filing — IndAS

General information about company
Scrip Code	500540
NSE Symbol	PREMIER
MSEI Symbol	NOTLISTED
ISIN	INE342A01018
Name of company	Premier Limited
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	22-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	19-May-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	ENGINEERING
Start date and time of board meeting	22-May-2025   15:30:00
End date and time of board meeting	22-May-2025   18:00:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Statement on impact of audit qualification

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	0	0
	Other income	2900000	10700000
	Total income	2900000	10700000
2	Expenses
(a)	Cost of materials consumed	0	0
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	0	0
(e)	Finance costs	3400000	14500000
(f)	Depreciation, depletion and amortisation expense	15300000	57100000
(f)	Other Expenses
1	Other Expenses	7500000	20500000
	Total other expenses	7500000	20500000
	Total expenses	26200000	92100000
3	Total profit before exceptional items and tax	-23300000	-81400000
4	Exceptional items	0	0
5	Total profit before tax	-23300000	-81400000
6	Tax expense
7	Current tax	0	0
8	Deferred tax	0	0
9	Total tax expenses	0	0
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	-23300000	-81400000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	-23300000	-81400000
17	Other comprehensive income net of taxes	0	0
18	Total Comprehensive Income for the period	-23300000	-81400000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	303700000	303700000
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		-4395800000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-0.77	-2.68
	Diluted earnings (loss) per share from continuing operations	-0.77	-2.68
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	-0.77	-2.68
	Diluted earnings (loss) per share from continuing and discontinued operations	-0.77	-2.68
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		The Company is undergoing Corporate Insolvency Resolution Process vide order no CPIB 1224MB2020 pronounced on 29th January 2021 by The Honble National Company Law Tribunal Mumbai Bench under the provisions of the Insolvency and Bankruptcy Code 2016 the Code Pursuant to the order the management of affairs of the Company and powers of the Board of Directors of the Company are now vested with the Resolution Professional who is appointed by the Honble National Company Law Tribunal and reconfirmed by COC in first COC meeting As the powers of the Board of Directors are suspended since CIRP initiation and erstwhile Management has resigned these financial results have been prepared by the company and have been signed by the Resolution Professional Ms Kanak Jani IP Registration no IBBIIPA001IPP017572019202012685 These audited Consolidated financial results for the quarter and year ended 31st March 2025 have been prepared in accordance with the Indian Accounting Standards IndAS as specified under Section 133 of the Companies Act 2013 read with rule 3 of the Companies Indian Accounting Standards Rules 2015 as amended from time to time and the provisions of the Companies Act 2013 n nThe above audited Consolidated financial results for the quarter and year ended 31st March 2025 were audited by the Statutory Auditor of the Company under Regulation 33 of Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations 2015 as amended A qualified report was issued by them thereon n nThe Committee of Creditors in its 17th meeting held on 22nd January 2022 discussed the Resolution plans submitted by the seven prospective resolution applicants and had approved the resolution plan submitted by Fab Metals Pvt Ltd with 9247% assent through evoting The same has already been disclosed to the Stock Exchanges on 26th January 2022 Accordingly the further approval from the Honable NCLT Mumbai Bench is in progress currently n nThe Company is being managed as a going concern during the CIRP As mentioned in note no 2 above the CIRP period shall continue till the Resolution Plan accepted by the CoC is approved by Honable NCLT Mumbai Bench The future prospects of the Company would be determined on the completion of CIRP Therefore the financial results have been prepared on a going concern basis n nThe manufacturing activities at Companys plant at Chakan remain suspended since 3rd March 2020 due to lack of working capital as reported during the previous quarters year end Further the operations remain affected due to the inability of the Company to function normally and continuing suspension of production post mid March 2020 n nThere has been a delay in transferring unclaimed matured fixed deposits and interest thereon amounting to Rs 4655 lakhs to the Investor Education and Protection Fund in compliance with the provisions of section 125 of the Companies Act 2013 which was due for transfer as at 31st March 2025 However the entire amount is already funded by the Company and maintained in designated bank accounts We are in the process of transferring the said amount to the IEPF as per Section 125 of the Companies Act 2013 n nThe figures of the quarter ended March 31 2025 and the corresponding quarter ended in the previous year as reported in this financial results are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the relevant financial year n nPrevious period year figures have been regrouped restated and or rearranged wherever necessary

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	294162000
	Capital work-in-progress	35195000
	Investment property	859722000
	Goodwill	0
	Other intangible assets	0
	Intangible assets under development
	Biological assets other than bearer plants
	Investments accounted for using equity method
	Non-current financial assets
	Non-current investments	25000
	Trade receivables, non-current	0
	Loans, non-current	19475000
	Other non-current financial assets	401811000
	Total non-current financial assets	421311000
	Deferred tax assets (net)
	Other non-current assets
	Total non-current assets	1610390000
2	Current assets
	Inventories	0
	Current financial asset
	Current investments	0
	Trade receivables, current	0
	Cash and cash equivalents	144133000
	Bank balance other than cash and cash equivalents	6413000
	Loans, current	64838000
	Other current financial assets	98000
	Total current financial assets	215482000
	Current tax assets (net)	2310000
	Other current assets	5626000
	Total current assets	223418000
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	1833808000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	303995000
	Other equity	-3683216000
	Total equity attributable to owners of parent	-3379221000
	Non controlling interest
	Total equity	-3379221000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
	Total Trade payable
	Other non-current financial liabilities
	Total non-current financial liabilities	0
	Provisions, non-current	51055000
	Deferred tax liabilities (net)
	Deferred government grants, Non-current
	Other non-current liabilities	77737000
	Total non-current liabilities	128792000
	Current liabilities
	Current financial liabilities
	Borrowings, current	1671103000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	153632000
	Total Trade payable	153632000
	Other current financial liabilities	2784511000
	Total current financial liabilities	4609246000
	Other current liabilities	467005000
	Provisions, current	7986000
	Current tax liabilities (Net)
	Deferred government grants, Current
	Total current liabilities	5084237000
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	5213029000
	Total equity and liabilites	1833808000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
	Total Amount of items that will not be reclassified to profit and loss
2	Income tax relating to items that will not be reclassified to profit or loss
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			-81400000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			0
	Adjustments for decrease (increase) in inventories			0
	Adjustments for decrease (increase) in trade receivables, current			0
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			0
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			4000000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			0
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			57100000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			0
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			0
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			100000
	Adjustments for dividend income			0
	Adjustments for interest income			10600000
	Adjustments for share-based payments			0
	Adjustments for fair value losses (gains)			0
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			1400000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			52000000
	Net cash flows from (used in) operations			-29400000
	Dividends received			0
	Interest paid			-14400000
	Interest received			0
	Income taxes paid (refund)			1000000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			-16000000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			0
	Purchase of property, plant and equipment			0
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			10100000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			7400000
	Net cash flows from (used in) investing activities	17500000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			0
	Payments of lease liabilities			0
	Dividends paid			0
	Interest paid			0
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			0
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			1500000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			1500000
	Cash and cash equivalents cash flow statement at beginning of period			142611000
	Cash and cash equivalents cash flow statement at end of period			144111000

Audit qualification
Sr.	Details of Audit Qualification	Type of Audit Qualification	Frequency of qualification	For Audit Qualification(s) where the impact is quantified by the auditor	For Audit Qualification(s) where the impact is not quantified by the auditor
				Management's Views	(i) Management's estimation on the impact of audit qualification	(ii) If management is unable to estimate the impact, reasons for the same	Auditors' Comments on (i) or (ii) above
1	Textual Information(1)	Qualified opinion	Repetitive	Textual Information(2)	Textual Information(3)	Textual Information(4)	Textual Information(5)
2	Textual Information(6)	Qualified opinion	Repetitive	Textual Information(7)	Textual Information(8)	Textual Information(9)	Textual Information(10)
3	Textual Information(11)	Qualified opinion	Repetitive	Textual Information(12)	Textual Information(13)	Textual Information(14)	Textual Information(15)
4	Textual Information(16)	Qualified opinion	Repetitive	Textual Information(17)	Textual Information(18)	Textual Information(19)	Textual Information(20)
5	Textual Information(21)	Qualified opinion	Repetitive	Textual Information(22)	Textual Information(23)	Textual Information(24)	Textual Information(25)

Text Block
Textual Information(1)	Erosion of Networth due to losses incurred and liabilities exceeding the realizable value of assets
Textual Information(2)	The Networth of the Company has been completely eroded as at the year ended 31st March 2025 Further the company has incurred a loss of Rs 814 Lakhs excluding other comprehensive income for the year ended 31st March 2025 nFurther the liabilities of the Company far exceed the realizable value of assets owned by the company In addition CIRP has been inititated in case of the Company by Hon'ble NCLT Mumbai Bench and currently the CIRP is in progress nThese conditions state that a material uncertainty exists that may cast significant doubt on the entitys ability to continue as a going concern
Textual Information(3)	NA
Textual Information(4)	The Company has incurred losses its liabilities exceed total assets and its net worth has been fully eroded as at 31st March 2025 The Honable NCLT Mumbai Bench has admitted a petition to initiate insolvency proceeding against the Company under the Code As per the Code it is required that the Company be managed as a going concern during the CIRP Further the CIRP period continues to be in effect till the CoC approved Resolution Plan of the Company is approved by the NCLT The future prospects of the Company would be determined on the completion of CIRP Hence in view of the above facts and considering the smooth progress of the CIRP with submission of Resolution Plans is underway currently the financial statements have been prepared on a going concern basis
Textual Information(5)	Erosoin of networth casts significant doubts on the entities ability to continue as a going concern
Textual Information(6)	No provision made for impairment of assets
Textual Information(7)	The Company has not assessed impairment of carrying value of tangible assets capital work in progress and intangible assets in accordance with requirements of Indian Accounting Standard 36 on Impairment of Assets We are unable to obtain sufficient appropriate audit evidence about the recoverable amount of the Companys tangible assets capital work in progress and intangible assets Consequently we are unable to determine whether any adjustments to carrying value are necessary and consequential impacts on the statement Further as mentioned in note no 2 to this Statement the CoC has approved the resolution plan and approval petition for the same is pending before the NCLT However we are not privy to the terms and conditions of the approved plan as the same has not been made available to us for our perusal Therefore we are unable to comment as to whether an provisions are required for impairment in the value of the assets or cessation of any liabilities
Textual Information(8)	NA
Textual Information(9)	The Company is under CIRP and the resolution plan has been submitted by the RP to the Honorable NCLT Mumbai bench for their approval of the same Pending the approval of the plan the same is a confidential document and accordingly no adjustments to the value of the assets has been made in these financial statements
Textual Information(10)	Not providing for impairment loss affects the true and fair view of the financial statements
Textual Information(11)	Noncompliance with IndAs 19 n
Textual Information(12)	Employee dues including retirement or termination benefits were calculated based on the available data and only till the initiation of the CIRP Moreover actuarial valuation for gratuity and privileged leave was conducted only till the nine month ending 31st December 2020 being the quarter immediately preceding the initiation of CIRP
Textual Information(13)	NA
Textual Information(14)	Company had suspended its operation effective 03032020 and the workmen union appealed before the industrial court Pune followed by an appeal before the Honble Bombay High Court against nonpayment of wages arising out of the said suspension of operations The Company has made provision for workmen wages and dues at 50% of their monthly wages till CIRP commencement date Accordingly an amount of Rs 32962 Lakhs would be contingent upon the outcome of the petition of the union under hearing before the Bombay High Court nWhile this matter is in progress workmen union has also filed another application for the same matter before the NCLT Mumbai during the current year which is pending for hearing However the workmen in their application filed before the NCLT Mumbai have claimed full wages even for the CIRP period Since the Company is under CIRP quantifying the amount of payment contingent on the order of the NCLT Mumbai bench is not possible
Textual Information(15)	Not making provision for employee benfits in accrodance with IndAs affects the true and fair view of the financial statements
Textual Information(16)	Noncompliance with provision of section 138 of the Companies Act 2013
Textual Information(17)	The Company has not appointed an internal auditor as required under the provisions of section 138 of the Companies Act 2013 during the year under review
Textual Information(18)	NA
Textual Information(19)	Owing to the fact that the Company is under CIRP and the resultant lack of liquidity faced by the Company the company has been unable to make payments towards various services that the appointment of an internal auditor would entail
Textual Information(20)	The Company should endeavour to appoint an external agency as an internal auditor to ensure compliance with the mandatory provisions of the Companies Act 2013
Textual Information(21)	Noncompliance with provision of section 203 of the Companies Act 2013
Textual Information(22)	The Company has not appointed a whole time Company Secretary for a period exceeding 6 months since the resignation of the previous Company secretary as required by the provisions of Section 203 of the Companies Act 2013 and the other relevant rules made thereunder thereby violating the provisions of the Companies Act 2013
Textual Information(23)	NA
Textual Information(24)	Owing to the fact that the Company is under CIRP and the resultant lack of liquidity faced by the Company the company has been unable to make payments towards various services that the appointment of an company secretary would entail
Textual Information(25)	The Company should endeavour to appoint a whole time company secretary in compliance with the mandatory provisions of the Companies Act 2013