Preca Structures Private Limited, the promoter of Neueon Corporation Limited, has confirmed that it holds 50,89,00,968 equity shares, constituting 90% of the company's share capital, as of March 31, 2026. The disclosure, submitted to the stock exchanges on April 02, 2026, confirms that no encumbrance was created on any of these shares during the financial year ended March 31, 2026, and the total encumbrance remains nil.

The filing was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires promoters to provide yearly disclosures regarding their shareholding and any encumbrances thereon. The document was signed by Sudheer Rayachoti, Managing Director of Preca Structures Private Limited.

Promoter Holding Details

The disclosure outlines the specific shareholding pattern of the promoter group as of the end of the financial year. The following table details the holding:

Regulatory Context and Public Shareholding

The disclosure includes a note referencing the approval of the Resolution Plan by the Hon'ble NCLT, Hyderabad bench, via an order dated October 23, 2024. The note highlights clause 4.2.3 of the approved resolution plan, which pertains to Regulation 19A of the Securities Contracts (Regulation) Rules, 1957.

As per the resolution plan, since the public shareholding in Neueon Corporation Limited has fallen below 25% due to the implementation of the plan, the company is required to restore public shareholding to 25% within a maximum period of three years from the date of such fall. This action must be executed in the manner specified by the market regulator.

Neueon Corporation Limited (formerly Neueon Towers Limited) has released its audited financial results for FY26, reporting significant losses on both standalone and consolidated basis. The company posted a consolidated net loss of ₹32,618.12 crore and standalone net loss of ₹13,346.90 crore, reflecting the impact of asset impairments and resolution process costs.

Financial Performance Overview

The company's financial performance shows substantial deterioration across key metrics. On a standalone basis, total income increased to ₹1,586.39 crore from ₹556.64 crore in the previous year, primarily driven by higher revenue from operations at ₹1,572.20 crore compared to ₹539.53 crore in FY25.

Qualified Audit Opinion and Asset Impairment

ASKM & Co., Chartered Accountants, issued a qualified audit opinion highlighting critical concerns. The primary qualification relates to the company's failure to conduct proper impairment testing of Property, Plant and Equipment (PPE), investments, and other financial assets as required under Ind AS 36.

The company recognized an impairment loss of ₹58,748.44 crore on fixed assets, but the auditors noted that this assessment lacked adequate documentation and appropriate determination of recoverable amount. The auditors stated they were unable to determine whether any adjustment is necessary to the carrying value of assets due to insufficient audit evidence regarding assumptions used in estimating future cash flows and discount rates.

CIRP Resolution and Corporate Restructuring

Neueon Corporation was admitted into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, by an order dated November 21, 2018, from the National Company Law Tribunal (NCLT), Hyderabad Bench. A resolution plan submitted by a consortium led by Preca Solutions India Private Limited was approved by the NCLT on October 23, 2024.

Going Concern and Internal Control Issues

The auditors highlighted material uncertainty regarding the company's ability to continue as a going concern. The company incurred cash losses of ₹7,328.88 crore during FY26 and ₹201.79 crore in the preceding year. The ability to continue operations depends on successful implementation of the remaining terms of the resolution plan and revival of operational and financial performance.

Regarding internal financial controls, the auditors identified material weakness in the company's system for periodic impairment testing of assets. The company stated it is establishing a robust internal control framework now that the new Board and management are operational.

Regulatory Compliance and Board Approval

The Board of Directors approved the audited standalone and consolidated financial results at their meeting held on May 1, 2026. The company published newspaper advertisements in Financial Express (English) and Nava Telangana (Regional) on May 2, 2026, intimating stock exchanges about the publication of these results as required under regulatory compliance.