ABAN2026-01-012026-03-31ABAN2026-03-31ABAN2025-03-31ABAN2025-04-012026-03-31ABAN2026-01-012026-03-31in-capmkt:OtherExpenses1MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses2MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses3MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses4MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses5MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses6MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses7MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses8MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses9MemberABAN2026-01-012026-03-31in-capmkt:OtherExpenses10MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses1MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses2MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses3MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses4MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses5MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses6MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses7MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses8MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses9MemberABAN2025-04-012026-03-31in-capmkt:OtherExpenses10MemberABAN2026-03-31OtherNoncurrentFinancialAssetsDomain1ABAN2026-03-31OtherCurrentFinancialAssetsDomain1ABAN2026-03-31OtherCurrentFinancialAssetsDomain2ABAN2026-03-31OtherCurrentFinancialLiabilitiesDomain1ABAN2026-03-31OtherCurrentFinancialLiabilitiesDomain2ABAN2026-03-31OtherCurrentFinancialLiabilitiesDomain3ABAN2026-01-012026-03-31AuditorDomain1ABAN2026-01-012026-03-31in-capmkt:AuditedMemberABAN2026-03-31in-capmkt:AuditedMemberABAN2026-01-012026-03-31in-capmkt:AdjustedMemberABAN2026-03-31in-capmkt:AdjustedMemberABAN2026-01-012026-03-31AuditQualification1iso4217:INRxbrli:pureiso4217:INRxbrli:shares523204ABANNAINE421A01028ABAN OFFSHORE LIMITEDMain BoardEquity2025-04-012026-03-312026-08-142026-05-19INRMillionsQuarterlyFourth quarterSingle segmentDRILLING SERVICES2026-08-1415:00:002026-08-1416:30:00trueCash Flow IndirectStatement on impact of audit qualificationtruefalseNANAfalsetrue2024-09-12Related-Party-Transactions-Policy.pdffalsetrue2026-01-012026-03-31AuditedStandalone289670000589400003486100000002294000001350000162300000186590000162020000-69600001550600000157200001572000001393400000000139340000-120000013814000011673000022.392.39002.392.39000 <br /> (a Company under Corporate Insolvency Resolution Process by NCLT Order dated 01.09.2025) <br /> <br /> Standalone <br /> Notes: <br /> <br /> 1. Pursuant to petition filed by Punjab National Bank (‘Financial Creditor’) before the National Company Law Tribunal (‘NCLT’) Chennai bench, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (‘the Rules’), the NCLT admitted the petition and vide its order dated 01st September 2025 initiated Corporate Insolvency Resolution Process (‘CIRP’) against Aban Offshore Limited (‘Corporate Debtor / the Company’). The NCLT appointed, vide its order dated 10th October 2025 Mr. Shailesh Bhalchandran Desai as the Interim Resolution Professional (‘IRP’). The Committee of Creditors (“COC”) at its first meeting held on 26th November 2025 appointed the IRP as the Resolution Professional (“RP”). The management and operations of the Company are being managed by the RP, on a going concern basis as per the provisions of IBC. <br /> <br /> 2. The standalone financial results for the quarter and year ended 31st March 2026 have been prepared by the Management of the Company and were taken on record and signed by the Resolution Professional (‘RP’) while exercising the powers of Board of Directors of the Company which has been conferred upon him in terms of the provisions of Section 23 of the Insolvency and Bankruptcy Code 2016. <br /> <br /> 3. The Company’s accumulated losses amount to Rs. 9,744.68 million resulting in a negative net worth of Rs. 9,627.95 million and its current liabilities exceeded its current assets by Rs. 11,697.79 million resulting in negative working capital. Accordingly, there exists a material uncertainty about the Company’s ability to continue as a going concern since the future of the Company is dependent upon the successful implementation of the Resolution plan. Since the CIRP is currently in progress, as per the Code, it is required that the Company be managed as a going concern during the CIRP period. The standalone financial statements have been prepared assuming going concern basis of accounting, although there exists material uncertainty about the Company’s ability to continue as going concern since the same is dependent upon the successful implementation of a resolution plan as and when approved by NCLT. <br /> <br /> 4. The standalone financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules 2015 (IND AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting principles and policies to the extent applicable. <br /> <br /> 5. The Company operates in only one business segment i.e. Offshore Drilling. <br /> 6. Clause 52 (6) of LODR disclosure –The Company hasn’t redeemed its non-convertible redeemable preference shares amounting to INR 2,630 million on due dates and paid no dividend. <br /> 7. The Statutory Auditors have issued disclaimer of opinion report for the standalone financial results for the quarter and year ended 31 March 2026. <br /> <br /> 8. The Company’s investments in non-cumulative redeemable preference shares of INR 94.34 Million as at 31st March 2026 are overdue. The management is of the opinion that the amounts will be recovered. <br /> <br /> 9. Advances to the Company’s wholly owned subsidiary, Aban Energies Limited has been fully Impaired. The subsidiary Company is not generating any revenue for the past few years, as a prudent measure Advance to the subsidiary has been impaired fully. <br /> <br /> 10. Pursuant to the commencement of CIRP of the Company under Insolvency and Bankruptcy Code, 2016, the Resolution Professional has begun to receive claims from the financial creditors, operational creditors, other creditors including claims of employees. The overall liabilities shall be determined during the CIRP and accounting impact if any shall be considered on completion of CIRP. <br /> <br /> As per the last update on 24th December 2025, claims were submitted by the financial creditors, operational creditors, other creditors including claims of employees to the RP. The overall liabilities shall be determined during the CIRP and accounting impact if any shall be considered on completion of CIRP. <br /> 11. Based on the claims received by the RP from financial creditors, the Company has not provided for interest on bank borrowings and dividend on cumulative redeemable preference shares for the period October 2025 to March 2026 since the liabilities are crystalized on CIRP commencement date. <br /> <br /> 12. Based on the claims received by the RP from the financial creditors, the Company has not reinstated the foreign currency bank borrowing as at 31st March 2026 as the claims have been crystalized in INR on CIRP commencement date. <br /> <br /> 13. Pursuant to the commencement of CIRP of the Company under Insolvency and Bankruptcy Code, 2016, certain information including the minutes of meetings of the Committee of Creditors ('CoC') held on various dates, and the outcome of certain procedures carried out as a part of the CIRP are confidential in nature and could not be shared with anyone other than the member of CoC members and Hon’ble NCLT. <br /> <br /> However, the stock exchanges have been informed about the convening of the meeting of the committee of creditors and the same was released by them as public announcement <br /> <br /> 14. The Company has accrued for interest income on inter corporate loan at a lower rate which was reset from 01st October 2025. <br /> <br /> 15. The Company has accrued the revenue from support services from its wholly owned foreign subsidiary at a rate lesser than the agreed rate from 01st October 2025. <br /> <br /> 16. Since the Company is under CIRP process the Management has not considered provision of CSR amounting to INR 4.62 Million as required by sub-section 5 of Section 135 (Corporate Social Responsibility) of the Act. <br /> <br /> 17. The Company has transferred the land (INR 123.45 Million) grouped under ‘Assets held for sale’ back to ‘Property Plant and Equipment’, since per IBC Code 2016, no proceedings can be initiated against the company during the moratorium period. <br /> <br /> 18. In an earlier year, the Axis Bank Limited an investee of the Company’s Preference Shares, utilised the current account balance of the Company without its consent against the preference dues of INR 180 Million. Considering the legal framework of the preference share issue made by the Company, it reflected the preference share dues and amount utilised by axis bank as recoverable amount in its books. At the instance of the RP, the Company now setoff the liability and recoverable amount in its books. <br /> <br /> 19. The exceptional items in the standalone financial results include: <br /> - Statutory Impact of New Labour Codes: On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the impact of the changes, consistent with the Labour Codes, draft rules, and FAQs. Considering the regulatory-driven, non-recurring nature of this impact, the Company has presented such incremental impact as “Exceptional Items” in the standalone financial results for the quarter and year ended 31st March, 2026. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed. <br /> <br /> <br /> 20. The RP has signed the standalone financial results solely for the purpose of ensuring compliance by the Company with applicable laws, and subject to the following disclaimers: <br /> a. The RP has signed the financials results in good faith and accordingly, no suit, prosecution or other legal proceedings shall lie against the RP in terms of Section 23 of the Code; <br /> b. No Statement, fact, information (whether current or historical) or opinion contained therein should be construed as representation or warranty, express or implied, of the RP; <br /> c. The RP, in review of the financial results and while signing the financial results, has relied upon the assistance provided by the erstwhile Management of the Company. The standalone financial results of the Company for the quarter and year ended 31st March 2026 have been taken on record by the RP solely on the basis of and on relying on the certifications, representations and statements of the directors and the erstwhile management of the company. For all such information and data, the RP has assumed that such information and data are in conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial results and that they give a true and fair view of the position of the Company as of the dates and period indicated therein. Accordingly, the RP is not making any representations regarding accuracy, veracity or completeness of the data or information in the financial results. <br /> <br /> For Aban Offshore Limited (in CIRP) <br /> <br /> <br /> Shailesh Bhalchandran Desai Narayan Venkat Ramanan <br /> Resolution Professional (Chief Financial Officer) <br /> IP Reg No: IBBI/IPA-001/IP-P00183/2017-18/10362 <br /> <br /> <br /> Place: Chennai <br /> Date: 14th August 2026 <br /> 2025-04-012026-03-31AuditedStandalone111364000015207000012657100003220000001038900003267200006400000438650000878880000386830000-69600003798700000630400006304000003168300000000316830000-12000003156300001167300002-97446800005.435.43005.435.43000PROVISION FOR IMPAIRMENT OF ADVANCES146580000OTHER EXPENDITURE15720000EXCHANGE DIFFERENCE000000000000000PROVISION FOR IMPAIRMENT OF ADVANCES146580000OTHER EXPENDITURE90710000EXCHANGE DIFFERENCE201360000000000000000002316200000000000106240000028584000011053300001497410000340810000206984000038449000001676210000136200000328020000628350000264620000003030690000005100530000116730000-9744680000-9627950000-962795000000000000067780300000129893000012989300006651520000147284800000001472848000000147284800005100530000 <br /> (a Company under Corporate Insolvency Resolution Process by NCLT Order dated 01.09.2025) <br /> <br /> Standalone <br /> Notes: <br /> <br /> 1. Pursuant to petition filed by Punjab National Bank (‘Financial Creditor’) before the National Company Law Tribunal (‘NCLT’) Chennai bench, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (‘the Rules’), the NCLT admitted the petition and vide its order dated 01st September 2025 initiated Corporate Insolvency Resolution Process (‘CIRP’) against Aban Offshore Limited (‘Corporate Debtor / the Company’). The NCLT appointed, vide its order dated 10th October 2025 Mr. Shailesh Bhalchandran Desai as the Interim Resolution Professional (‘IRP’). The Committee of Creditors (“COC”) at its first meeting held on 26th November 2025 appointed the IRP as the Resolution Professional (“RP”). The management and operations of the Company are being managed by the RP, on a going concern basis as per the provisions of IBC. <br /> <br /> 2. The standalone financial results for the quarter and year ended 31st March 2026 have been prepared by the Management of the Company and were taken on record and signed by the Resolution Professional (‘RP’) while exercising the powers of Board of Directors of the Company which has been conferred upon him in terms of the provisions of Section 23 of the Insolvency and Bankruptcy Code 2016. <br /> <br /> 3. The Company’s accumulated losses amount to Rs. 9,744.68 million resulting in a negative net worth of Rs. 9,627.95 million and its current liabilities exceeded its current assets by Rs. 11,697.79 million resulting in negative working capital. Accordingly, there exists a material uncertainty about the Company’s ability to continue as a going concern since the future of the Company is dependent upon the successful implementation of the Resolution plan. Since the CIRP is currently in progress, as per the Code, it is required that the Company be managed as a going concern during the CIRP period. The standalone financial statements have been prepared assuming going concern basis of accounting, although there exists material uncertainty about the Company’s ability to continue as going concern since the same is dependent upon the successful implementation of a resolution plan as and when approved by NCLT. <br /> <br /> 4. The standalone financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules 2015 (IND AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting principles and policies to the extent applicable. <br /> <br /> 5. The Company operates in only one business segment i.e. Offshore Drilling. <br /> 6. Clause 52 (6) of LODR disclosure –The Company hasn’t redeemed its non-convertible redeemable preference shares amounting to INR 2,630 million on due dates and paid no dividend. <br /> 7. The Statutory Auditors have issued disclaimer of opinion report for the standalone financial results for the quarter and year ended 31 March 2026. <br /> <br /> 8. The Company’s investments in non-cumulative redeemable preference shares of INR 94.34 Million as at 31st March 2026 are overdue. The management is of the opinion that the amounts will be recovered. <br /> <br /> 9. Advances to the Company’s wholly owned subsidiary, Aban Energies Limited has been fully Impaired. The subsidiary Company is not generating any revenue for the past few years, as a prudent measure Advance to the subsidiary has been impaired fully. <br /> <br /> 10. Pursuant to the commencement of CIRP of the Company under Insolvency and Bankruptcy Code, 2016, the Resolution Professional has begun to receive claims from the financial creditors, operational creditors, other creditors including claims of employees. The overall liabilities shall be determined during the CIRP and accounting impact if any shall be considered on completion of CIRP. <br /> <br /> As per the last update on 24th December 2025, claims were submitted by the financial creditors, operational creditors, other creditors including claims of employees to the RP. The overall liabilities shall be determined during the CIRP and accounting impact if any shall be considered on completion of CIRP. <br /> 11. Based on the claims received by the RP from financial creditors, the Company has not provided for interest on bank borrowings and dividend on cumulative redeemable preference shares for the period October 2025 to March 2026 since the liabilities are crystalized on CIRP commencement date. <br /> <br /> 12. Based on the claims received by the RP from the financial creditors, the Company has not reinstated the foreign currency bank borrowing as at 31st March 2026 as the claims have been crystalized in INR on CIRP commencement date. <br /> <br /> 13. Pursuant to the commencement of CIRP of the Company under Insolvency and Bankruptcy Code, 2016, certain information including the minutes of meetings of the Committee of Creditors ('CoC') held on various dates, and the outcome of certain procedures carried out as a part of the CIRP are confidential in nature and could not be shared with anyone other than the member of CoC members and Hon’ble NCLT. <br /> <br /> However, the stock exchanges have been informed about the convening of the meeting of the committee of creditors and the same was released by them as public announcement <br /> <br /> 14. The Company has accrued for interest income on inter corporate loan at a lower rate which was reset from 01st October 2025. <br /> <br /> 15. The Company has accrued the revenue from support services from its wholly owned foreign subsidiary at a rate lesser than the agreed rate from 01st October 2025. <br /> <br /> 16. Since the Company is under CIRP process the Management has not considered provision of CSR amounting to INR 4.62 Million as required by sub-section 5 of Section 135 (Corporate Social Responsibility) of the Act. <br /> <br /> 17. The Company has transferred the land (INR 123.45 Million) grouped under ‘Assets held for sale’ back to ‘Property Plant and Equipment’, since per IBC Code 2016, no proceedings can be initiated against the company during the moratorium period. <br /> <br /> 18. In an earlier year, the Axis Bank Limited an investee of the Company’s Preference Shares, utilised the current account balance of the Company without its consent against the preference dues of INR 180 Million. Considering the legal framework of the preference share issue made by the Company, it reflected the preference share dues and amount utilised by axis bank as recoverable amount in its books. At the instance of the RP, the Company now setoff the liability and recoverable amount in its books. <br /> <br /> 19. The exceptional items in the standalone financial results include: <br /> - Statutory Impact of New Labour Codes: On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the impact of the changes, consistent with the Labour Codes, draft rules, and FAQs. Considering the regulatory-driven, non-recurring nature of this impact, the Company has presented such incremental impact as “Exceptional Items” in the standalone financial results for the quarter and year ended 31st March, 2026. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed. <br /> <br /> <br /> 20. The RP has signed the standalone financial results solely for the purpose of ensuring compliance by the Company with applicable laws, and subject to the following disclaimers: <br /> a. The RP has signed the financials results in good faith and accordingly, no suit, prosecution or other legal proceedings shall lie against the RP in terms of Section 23 of the Code; <br /> b. No Statement, fact, information (whether current or historical) or opinion contained therein should be construed as representation or warranty, express or implied, of the RP; <br /> c. The RP, in review of the financial results and while signing the financial results, has relied upon the assistance provided by the erstwhile Management of the Company. The standalone financial results of the Company for the quarter and year ended 31st March 2026 have been taken on record by the RP solely on the basis of and on relying on the certifications, representations and statements of the directors and the erstwhile management of the company. For all such information and data, the RP has assumed that such information and data are in conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial results and that they give a true and fair view of the position of the Company as of the dates and period indicated therein. Accordingly, the RP is not making any representations regarding accuracy, veracity or completeness of the data or information in the financial results. <br /> <br /> For Aban Offshore Limited (in CIRP) <br /> <br /> <br /> Shailesh Bhalchandran Desai Narayan Venkat Ramanan <br /> Resolution Professional (Chief Financial Officer) <br /> IP Reg No: IBBI/IPA-001/IP-P00183/2017-18/10362 <br /> <br /> <br /> Place: Chennai <br /> Date: 14th August 2026 <br /> OTHER FINANCIAL ASSETS1105330000OTHER FINANCIAL ASSETS612310000OTHER CURRENT ASSETS16040000OTHER FINANCIAL LIABILITIES6647820000EMPLOYEE BENEFIT1660000OTHER CURRENT LIABILITIES2040000326720000-1060000-1026700000-493950000-3894600000003733200000-8350000064000001465800007950000-1124000000-287060000035920000000-490000000-469230000-89360000000308800000-120240000009800000000011000004600000000000000000000000001620000000000000771000000002258000014870000-103750000-830000-104580000118200000136200001200000120000000-1200000-1200000AuditedDisclaimer of opinionFord Rhodes Parks & Co. LLPtrue2027-09-3012657100001265710000878880000038683000005.43051005300000147284800000-96279500000a. Details of Audit Qualification: <br /> Basis for Disclaimer of Opinion <br /> -Non-receipt of confirmation of bank account balances including loan accounts as stated below: <br /> • Bank Balances including Deposits INR 592.98 million <br /> • Term Loans INR 4,148.03 million <br /> • Material Uncertainty relating to going concern. <br /> • Investments Overdue <br /> • Non provision of Interest on bank borrowings and dividend on cumulative redeemable preference shares <br /> • Non reinstatement of foreign currency bank borrowings <br /> • Accrual of Interest income at reduced rate on inter-corporate loan <br /> • Revenue support services accrued at cost instead of at agreed rate <br /> • No provision for Corporate Social Responsibility <br /> • Asset held for sale treated as Property Plant and Equipment <br /> <br /> In view of the significance of the matters referred above and the uncertainties involved, we have not been able to obtain sufficient and appropriate evidence thereon, unable to conclude as to whether the Statement has been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (“Ind AS”) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant Rules and other recognized accounting practices and policies or state whether the Statement has disclosed the information required to be disclosed in terms of the Listing Regulations, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement. Thus, we do not express a conclusion on the accompanying financial results. <br /> Disclaimer of opinionRepetitiveNot quantified by Auditors. Company is Under CIRP. Hence management is swifted to RP.As the Company is under CIPR from 1st September 2025, vide NCLT Order No.IA/IBC/1500/2025 dt 22/10/2025.As the Company is under CIPR from 1st September 2025, vide NCLT Order No.IA/IBC/1500/2025 dt 22/10/2025.As the Company is under CIPR from 1st September 2025, vide NCLT Order No.IA/IBC/1500/2025 dt 22/10/2025.Reji AbrahamNarayan Venkat RamananCompany is under IBCR SUBRAMANIANShailesh Desai, Resolution ProfessionalChennai2026-08-156940800006940800004615000046150000740230000