Premier Limited (In CIRP) has submitted its quarterly compliance certificate to stock exchanges for the quarter ended March 31, 2026, fulfilling regulatory requirements under the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Filing

Resolution Professional Kanak Jani filed the certificate on April 15, 2026, with both BSE Limited and National Stock Exchange of India Limited. The submission was made pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Registrar Confirmation

MUFG Intime India Private Limited (formerly Link Intime India Private Limited), serving as the company's Registrar and Share Transfer Agent, issued a confirmation certificate dated April 06, 2026. The registrar confirmed that all securities received from depository participants for dematerialization during Q4FY26 were properly processed.

Key confirmations from the registrar include:

• All dematerialization requests were confirmed (accepted/rejected) to depositories within prescribed timelines
• Securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialization were mutilated and cancelled after due verification
• Depository names were substituted in the register of members as registered owners

Dematerialization Activity

The registrar reported no rematerialization requests during the quarter ended March 31, 2026. All securities processing activities were completed in accordance with regulatory requirements and prescribed timelines.

Corporate Insolvency Process Status

Premier Limited continues to operate under the Corporate Insolvency Resolution Process (CIRP), with Kanak Jani serving as the Resolution Professional. The company maintains its registered office at Kharghar, Navi Mumbai, with correspondence office at Colaba, Mumbai.

The quarterly compliance filing demonstrates the company's continued adherence to regulatory requirements despite being under insolvency proceedings, ensuring transparency and proper governance for stakeholders and market participants.

Premier Limited announced its unaudited financial results for the quarter ended December 31, 2025, revealing continued losses amid ongoing Corporate Insolvency Resolution Process (CIRP). The company, which has been under CIRP since January 29, 2021, reported a net loss of Rs 175 lakhs for Q3 FY26.

Financial Performance Overview

The company's financial performance for the quarter showed mixed signals compared to the previous year:

The company's total income for the quarter remained flat at Rs 29 lakhs, entirely comprising other income as revenue from operations remained nil. For the nine-month period, total income increased significantly to Rs 250 lakhs from Rs 78 lakhs in the previous year, primarily due to compensation received for land acquisition.

Operational Challenges Continue

Manufacturing activities at the company's Chakan plant have remained suspended since March 3, 2020, due to lack of working capital. The company's operations continue to be affected by its inability to function normally, with production remaining suspended throughout the reporting period.

CIRP Status and Resolution Plan

Premier Limited has been undergoing CIRP under order C.P. (IB) 1224/MB/2020 pronounced by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench. The powers of the Board of Directors remain suspended, with Resolution Professional Ms. Kanak Jani managing the company's affairs.

The Committee of Creditors (CoC) approved a resolution plan submitted by Fab Metals Pvt. Ltd. with 92.47% assent in its 17th meeting held on January 22, 2022. The approval from NCLT Mumbai Bench for this resolution plan is currently in progress.

Land Compensation Boosts Income

During the quarter ended September 30, 2025, the company received Rs 164 lakhs as compensation for land acquisition by Dedicated Freight Corridor Corporation (DFCC). This land, originally sold to Horizon Limited in 2012, was later acquired for a railway project, with the compensation being credited to Premier Limited as per the written understanding between the parties.

Auditor's Qualified Opinion

The statutory auditors, Jayesh Dadia & Associates LLP, issued a qualified review report highlighting several concerns including the company's eroded net worth, suspended operations, and material uncertainty about the entity's ability to continue as a going concern. The auditors noted that the company's net worth has been completely eroded as of December 31, 2025.