5005402026-01-012026-03-315005402026-03-315005402025-03-315005402025-04-012026-03-315005402026-01-012026-03-31in-capmkt:OtherExpenses1Member5005402025-04-012026-03-31in-capmkt:OtherExpenses1Member5005402026-03-31OtherNoncurrentFinancialAssetsDomain15005402026-03-31OtherNoncurrentAssetsDomain15005402026-03-31OtherCurrentFinancialAssetsDomain15005402026-03-31OtherCurrentAssetsDomain15005402026-03-31OtherNoncurrentLiabilitiesDomain15005402026-03-31OtherCurrentFinancialLiabilitiesDomain15005402026-03-31OtherCurrentLiabilitiesDomain15005402026-01-012026-03-31AuditorDomain15005402026-01-012026-03-31in-capmkt:AuditedMember5005402026-03-31in-capmkt:AuditedMember5005402026-01-012026-03-31in-capmkt:AdjustedMember5005402026-03-31in-capmkt:AdjustedMember5005402026-01-012026-03-31AuditQualification15005402026-01-012026-03-31AuditQualification25005402026-01-012026-03-31AuditQualification35005402026-01-012026-03-31AuditQualification45005402026-01-012026-03-31AuditQualification5iso4217:INRiso4217:INRxbrli:shares500540PREMIERNOTLISTEDINE342A01018Premier LimitedMain BoardEquity2025-04-012026-03-312026-05-272026-05-21INRLakhsQuarterlyFourth quarterSingle segmentENGINEERING2026-05-2714:30:002026-05-2717:00:00trueCash Flow IndirectStatement on impact of audit qualification2026-01-012026-03-31AuditedConsolidated0300000030000000000280000013100000470000020600000-176000000-176000000000-176000000000-176000000-1760000030370000010-0.58-0.5800-0.58-0.58The Company is undergoing Corporate Insolvency Resolution Process (“CIRP”) vide order no. C.P. (IB) 1224/MB/2020 pronounced on January 29, 2021 by The Hon’ble National Company Law Tribunal (“NCLT”), 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 (“RP”) who is appointed by the Hon'ble National Company Law Tribunal and reconfirmed by COC in first COC meeting. As the powers of the Board of Diretors 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.IBBI/IPA-001/IP-P-01757/2019-2020/12685]. These audited consolidated financial results for the quarter and year ended March 31, 2026 have been prepared in accordance with the Indian Accounting Standards ("Ind-AS") 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. <BR> <BR> The above audited consolidated financial results for the quarter & year ended March 31, 2026 were audited by the Statutory Auditor of the Company, under Regulation 33 of Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. A qualified report was issued by them thereon. <BR> <BR> The Committee of Creditors (COC), in its 17th meeting held on January 22, 2022, discussed the Resolution plans submitted by the seven prospective resolution applicants (PRA) and had approved the resolution plan submitted by Fab Metals Pvt. Ltd. with 92.47% assent through e-voting. The same has already been disclosed to the Stock Exchanges on January 26, 2022. Accordingly, the further approval from the Hon’able NCLT, Mumbai Bench is in progress currently. <BR> <BR> The 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 Hon’able 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. <BR> <BR> The manufacturing activities at Company's plant at Chakan remain suspended since March 3, 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. <BR> <BR> There has been a delay in transferring unclaimed matured fixed deposits & interest thereon amounting to Rs. 46.55 lakhs to the Investor Education & Protection Fund (“IEPF”) in compliance with the provisions of section 125 of the Companies Act, 2013, which was due for transfer as at March 31, 2026. 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. <BR> <BR> The Company has sold a land parcel situated at Village Usarghar to Horizon Limited on 31.12.2012. A portion of land, measuring 860 sq meters was acquired by Dedicated Freight Corridor Corporation (DFCC), and the matter was under hearing before the Sub-Divisional Officer (SDO). As per the written understanding between the the Company and M/s. Horizon Limited, the compensation receivable from the governement would accrue and be credited to Premier Limited. Pursuant to the proceedings, compensation of Rs 164 Lakhs (including interest thereon) was awarded and finally released to te Company on July 14, 2025. This amount has been treated as other income in these consolidated financial results for the year ended March 31, 2026. <BR> <BR> The figures of the quarter ended March 31, 2026 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. <BR> <BR> Previous period/year figures have been regrouped / restated and / or rearranged wherever necessary.2025-04-012026-03-31AuditedConsolidated02800000028000000000012200000534000002110000086700000-587000000-587000000000-587000000000-587000000-5870000030370000010-4454500000-1.93-1.9300-1.93-1.93Other Expenses4700000Other Expenses2110000024074300035195000859722000002500001947500028510000480100003718730001555543000000155504000588000064838000114000226336000255700042340002331270001788670000303995000-3741917000-3437922000-343792200000510550005506700010612200016711030000151023000151023000280783500046299610004825230007986000512047000052265920001788670000Other Financial Assets28510000Other Non-Current assets371873000Other Financial Assets114000Other current assets4234000Other non-current liabilities55067000Other financial liabilities2807835000Other current liabilities48252300000000000093600000053418000000004630000116030000000012520000055734000-29660000121840000246000-673000-1606900000000000000000000000000000001811100009350000274610000000000000002000000-2000011372000011372000144133000155505000AuditedQualified opinionJayesh Dadia & Associates LLPtrue2028-04-3028000000280000008670000086700000-58700000-58700000-1.93-1.931788700000178870000052266000005226600000-3437900000-3437900000Erosion of Networth due to losses incurred & liabilities exceeding the realizable value of assetsQualified opinionRepetitiveNANAThe Company has incurred losses, its liabilities exceed total assets and its net worth has been fully eroded as at March 31, 2026. 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.Erosoin of networth casts significant doubts on the entities ability to continue as a going concern.No provision made for impairmnet of assetsQualified opinionRepetitiveNANAThe 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.Not providing for impairment loss affects the true and fair view of the financial statementsNon Compliance with Ind-As 19Qualified opinionRepetitiveNANACompany had suspended its operation effective 03.03.2020 and the workmen union appealed before the industrial court, Pune followed by an appeal before the Honble Bombay High Court against non-payment 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.329.62 Lakhs would be contingent upon the outcome of the petition of the union under hearing before the Bombay High Court. <br></br> While 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. Not making provision for employee benfits in accrodance with Ind-As affects the true and fair view of the financial statementsNon-compliance with provision of section 138 of the Companies Act, 2013Qualified opinionRepetitiveNANAOwing 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.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.Non-compliance with provision of section 203 of the Companies Act, 2013Qualified opinionRepetitiveNANAOwing 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.The Company should endeavour to appoint a whole time company secretary in compliance with the mandatory provisions of the Companies Act, 2013.Kanak Jani, Resoution ProfessionalNANAJayesh DadiaNAMumbai2026-05-27