5232042026-01-012026-03-315232042026-03-315232042025-03-315232042025-04-012026-03-315232042026-01-012026-03-31in-capmkt:OtherExpenses1Member5232042026-01-012026-03-31in-capmkt:OtherExpenses2Member5232042026-01-012026-03-31in-capmkt:OtherExpenses3Member5232042025-04-012026-03-31in-capmkt:OtherExpenses1Member5232042025-04-012026-03-31in-capmkt:OtherExpenses2Member5232042025-04-012026-03-31in-capmkt:OtherExpenses3Member5232042026-03-31OtherNoncurrentFinancialAssetsDomain15232042026-03-31OtherCurrentFinancialAssetsDomain15232042026-03-31OtherCurrentFinancialAssetsDomain25232042026-03-31OtherCurrentFinancialAssetsDomain35232042026-03-31OtherNoncurrentFinancialLiabilitiesDomain15232042026-03-31OtherCurrentFinancialLiabilitiesDomain15232042026-03-31OtherCurrentFinancialLiabilitiesDomain25232042026-03-31OtherCurrentLiabilitiesDomain15232042026-01-012026-03-31AuditorDomain15232042026-01-012026-03-31in-capmkt:AuditedMember5232042026-03-31in-capmkt:AuditedMember5232042026-01-012026-03-31in-capmkt:AdjustedMember5232042026-03-31in-capmkt:AdjustedMember5232042026-01-012026-03-31AuditQualification1iso4217: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 qualification2026-01-012026-03-31AuditedConsolidated99115000099950000109110000099340000001716000000226160000520890000101799000073110000-696000066150000402600001572000055980000010170000000786000018030000-10572670000-10554640000000011673000020.310.31000.310.31000 <br /> (a Company under Corporate Insolvency Resolution Process by NCLT Order dated 01.09.2025) <br /> <br /> Note to Statement of unaudited Consolidated Financial Results: <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 Parent Company’). The NCLT appointed, vide its order dated 10th October 2025 Mr. Shailesh Bhalchandran Desai as the Resolution Professional (‘RP’). Committee of Creditors(“COC”) at its first meeting held on 26th November 2025 in terms of section 22(3) (a) of the code resolved with the requisite voting appointed Mr Sailesh Bhalchandran Desai as the Resolution Professional. <br /> <br /> 2. The consolidated financial results for the quarter and year ended 31st March 2026 have been prepared by the Management of the Parent Company and were taken on record and signed by the Resolution Professional (‘RP’) while exercising the powers of Board of Directors of the Parent 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 Parent Company has continued as a going concern. Since, under CIRP, the business operations of the Parent Company are managed under supervision of the RP (Resolution Professional) in accordance with objective of IBC 2016 to ensure that going concern is continued for maximising the value of the Parent Company. Hence the Financial results are prepared on going concern basis. <br /> 4. The consolidated 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 Group operates in only one business segment i.e. Offshore Drilling. <br /> <br /> 6. Clause 52 (6) of LODR disclosure –The Parent Company hasn’t redeemed its non-convertible redeemable preference shares amounting to INR 2,810 million on due dates and paid no dividend. <br /> 7. The Statutory Auditors have issued disclaimer of opinion report for the consolidated financial results for the quarter and year ended 31 March 2026. <br /> 8. The Standalone Financial results are as under: <br /> <br /> <br /> <br /> <br /> 9. The Parent Company’s investments in non-cumulative redeemable preference shares of INR 94.34 Million as at 31st March 2026 are overdue. The parent company management is of the opinion that the amounts will be recovered. <br /> <br /> 10. Pursuant to the commencement of CIRP of the Parent 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 /> 11. Based on the claims received by the RP from financial creditors, the Parent 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 of the Foreign Subsidiaries, the Parent Company has not considered interest on such bank borrowings in the consolidated financial results for the period October 2026 to March 2026. As per the Provisions of IBC, the liability is crystalised on CIRP commencement date. <br /> <br /> 13. The Parent Company has accrued for interest income on inter corporate loan at a lower rate which was reset from 01st October 2025. <br /> <br /> 14. Since the Parent Company is under CIRP process the Parent Company 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 /> 15. The Parent 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 /> 16. In an earlier year, the Axis Bank Limited an investee of the Parent Company’s Preference Shares, utilised the current account balance of the Parent Company without its consent against the preference dues of INR 180 Million. Considering the legal framework of the preference share issue made by the Parent Company, it reflected the preference share dues and amount utilised by axis bank as recoverable amount in its books. The Parent Company now setoff the liability and recoverable amount in its books. <br /> <br /> 17. The exceptional items in the Consolidated 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 Parent Company has presented such incremental impact as “Exceptional Items” in the consolidated financial results for the quarter and year ended 31st March, 2026. The Parent 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 /> 18. The RP has signed the Consolidated financial results solely for the purpose of ensuring compliance by the Parent 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 233 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 Parent Company. The consolidated 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 parent 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 Parent 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 /> <br /> <br /> For Aban Offshore Limited (in CIRP) <br /> <br /> <br /> <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 /> 2025-04-012026-03-31AuditedConsolidated4096170000230940000432711000043716000000659240000571937000034216000022739300009431860000-5104750000-6960000-5111710000121710000630400001847500000-52964600000007510000-5288950000-23098340000-2838729000000001167300002-223315570000-90.63-90.6300-90.63-90.63000AMORTISATION OF CONTRACT ASSETS213230000INVENTORY WRITEN DOWN0OTHER EXPENDITURE307660000AMORTISATION OF CONTRACT ASSETS841100000INVENTORY WRITEN DOWN0OTHER EXPENDITURE1432830000406387000000041519700000002159200000305320000262199000031432300003408100001169988000013155200000984280000678540000088738000019897900004539990000058555100000017555390000116730000-282523970000-2824072400000-282407240000000096500009650000000965000017084121000002604970000260497000012650463000029995081000021700000002999529800000029996263000017555390000 <br /> (a Company under Corporate Insolvency Resolution Process by NCLT Order dated 01.09.2025) <br /> <br /> Note to Statement of unaudited Consolidated Financial Results: <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 Parent Company’). The NCLT appointed, vide its order dated 10th October 2025 Mr. Shailesh Bhalchandran Desai as the Resolution Professional (‘RP’). Committee of Creditors(“COC”) at its first meeting held on 26th November 2025 in terms of section 22(3) (a) of the code resolved with the requisite voting appointed Mr Sailesh Bhalchandran Desai as the Resolution Professional. <br /> <br /> 2. The consolidated financial results for the quarter and year ended 31st March 2026 have been prepared by the Management of the Parent Company and were taken on record and signed by the Resolution Professional (‘RP’) while exercising the powers of Board of Directors of the Parent 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 Parent Company has continued as a going concern. Since, under CIRP, the business operations of the Parent Company are managed under supervision of the RP (Resolution Professional) in accordance with objective of IBC 2016 to ensure that going concern is continued for maximising the value of the Parent Company. Hence the Financial results are prepared on going concern basis. <br /> 4. The consolidated 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 Group operates in only one business segment i.e. Offshore Drilling. <br /> <br /> 6. Clause 52 (6) of LODR disclosure –The Parent Company hasn’t redeemed its non-convertible redeemable preference shares amounting to INR 2,810 million on due dates and paid no dividend. <br /> 7. The Statutory Auditors have issued disclaimer of opinion report for the consolidated financial results for the quarter and year ended 31 March 2026. <br /> 8. The Standalone Financial results are as under: <br /> <br /> <br /> <br /> <br /> 9. The Parent Company’s investments in non-cumulative redeemable preference shares of INR 94.34 Million as at 31st March 2026 are overdue. The parent company management is of the opinion that the amounts will be recovered. <br /> <br /> 10. Pursuant to the commencement of CIRP of the Parent 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 /> 11. Based on the claims received by the RP from financial creditors, the Parent 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 of the Foreign Subsidiaries, the Parent Company has not considered interest on such bank borrowings in the consolidated financial results for the period October 2026 to March 2026. As per the Provisions of IBC, the liability is crystalised on CIRP commencement date. <br /> <br /> 13. The Parent Company has accrued for interest income on inter corporate loan at a lower rate which was reset from 01st October 2025. <br /> <br /> 14. Since the Parent Company is under CIRP process the Parent Company 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 /> 15. The Parent 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 /> 16. In an earlier year, the Axis Bank Limited an investee of the Parent Company’s Preference Shares, utilised the current account balance of the Parent Company without its consent against the preference dues of INR 180 Million. Considering the legal framework of the preference share issue made by the Parent Company, it reflected the preference share dues and amount utilised by axis bank as recoverable amount in its books. The Parent Company now setoff the liability and recoverable amount in its books. <br /> <br /> 17. The exceptional items in the Consolidated 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 Parent Company has presented such incremental impact as “Exceptional Items” in the consolidated financial results for the quarter and year ended 31st March, 2026. The Parent 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 /> 18. The RP has signed the Consolidated financial results solely for the purpose of ensuring compliance by the Parent 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 233 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 Parent Company. The consolidated 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 parent 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 Parent 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 /> <br /> <br /> For Aban Offshore Limited (in CIRP) <br /> <br /> <br /> <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 assets2621990000Other current financial assets785240000Contract assets1186630000other current assets17920000Employee benefit obligations9650000Other financial liabilities126491510000Employeee bebefit obligations13120000Other current liabilities21700005719370000-165700000-1763000000-1351090000-4552200000009325600000-836000001183260000022750000-1124000000-2870600000153030000000-490000000524945000013774000000124400000-2045000002825900000000000011000001216050000000000000000000000000-12149500000000000006178400000000143770000-474070000-1406430000166010000-124042000019189600006785400001057267000023098340000-10572670000-23098340000AuditedDisclaimer of opinionM/S. FORD RHODES PARKS & CO.LLPtrue2027-09-304327110000432711000094318600000-51047500000-90.6301555539000002999626300000-2824072400000On 31 October 2025, the immediate and ultimate holding corporation, Aban Offshore Limited has made an announcement that pursuant to the order of the National Company Law Tribunal, Chennai Bench (“NCLT”) dated 1 September 2025, Corporate Insolvency Resolution Process (“CIRP”) has been initiated against Aban Offshore Limited under the provisions of the Insolvency and Bankruptcy Code, 2016 (the “Code”). The NCLT subsequently appointed an Interim Resolution Professional (“IRP”) on 10 October 2025 (order received on 14 October 2025) and a moratorium has been declared in accordance with the Code. Subsequent to 14 October 2025, the CIRP continued to progress with key procedural steps under the supervision of the Resolution Professional (“RP”) appointed on 26 November 2025. In compliance with the Code, Aban Offshore Limited has submitted the list of creditors as on 12 November 2025. On 21 January 2026, the Appellate Tribunal issued further procedural directions in relation to the Corporate Insolvency Resolution Process of Aban Offshore Limited, and the matter has been scheduled for further hearing. <br /> <br /> Bases for Disclaimer of Opinion <br /> <br /> • Going concern <br /> • .Incompleteness of bank confirmations <br /> • Investments in subsidiary corporations, Investment in associated companies and amounts due from subsidiary corporations <br /> • Existence, accuracy, recoverability of Value-Added Tax and withholding tax receivables <br /> • Existence, accuracy, completeness of Central Goods and Services tax payables <br /> • <br /> <br /> In the case of the Parent Company, the Statutory Auditors have given a qualified opinion on the matter of non-receipt of confirmation of bank account balances and term loans in their Report on the Stand-alone financial statements of ABAN OFFSHORE LIMITED for the year ended 31st March 2026, which is reproduced below: <br /> <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 EquipmentDisclaimer of opinionRepetitiveUnder Corporate Insolvency Resolution Process.Under Corporate Insolvency Resolution Process.Under Corporate Insolvency Resolution Process.Under Corporate Insolvency Resolution Process.Reji AbrahamNarayan Venkat RamananCompany is under IBCR SUBRAMANIANShailesh Desai, Resolution ProfessionalChennai2026-08-15