Premier Limited has scheduled its 80th Annual General Meeting for September 30, 2026. The company, which is currently undergoing Corporate Insolvency Resolution Process (CIRP), will hold the event through video conferencing and other audio-visual means.

The meeting is set to begin at 12:30 pm on Wednesday. Kanak Jani, the Resolution Professional appointed under the Insolvency and Bankruptcy Code, issued the compliance notice to the Bombay Stock Exchange and the National Stock Exchange of India on September 5, 2026.

Regulatory Compliance

The disclosure was made pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Premier Limited published advertisements regarding the AGM in multiple newspapers across Pune and Mumbai editions.

Resolution Professional Details

Kanak Jani serves as the Resolution Professional for Premier Limited. His IBBI registration number is IBBI/IPA-001/IP-P-01757/2019-2020/12685. The authorization for this role remains valid until December 31, 2026.

The registered office for the resolution process is located at 17, Sai Moreshwar Luxuria, Plot No. 74, Sector 18, Kharghar, Navi Mumbai. Correspondence can be directed to the office at Indian Mercantile Mansion Extn, Madame Cama Road, Colaba, Mumbai.

Premier Limited reported a net loss of ₹587.01 lakh for the financial year ended March 31, 2026, a significant improvement from the ₹814.28 lakh loss recorded in FY25. The company continues to operate under the Corporate Insolvency Resolution Process (CIRP), with its Board of Directors suspended and management vested in the Resolution Professional.

Financial Performance

The capital goods manufacturer generated zero revenue from operations during the year, consistent with the previous fiscal year. Total income stood at ₹280.14 lakh, driven entirely by other income sources, including interest on fixed deposits and compensation received. This was offset by total expenses of ₹867.15 lakh.

The reduction in net loss was primarily supported by a decline in total expenses, which fell by ₹53.67 lakh year-on-year. Depreciation and amortization expenses decreased to ₹534.18 lakh from ₹571.08 lakh, while finance costs dropped to ₹121.89 lakh from ₹144.97 lakh.

What the Numbers Show

Other income constituted the sole source of revenue, accounting for 100% of the company's total income of ₹280.14 lakh. This highlights the complete absence of operational activity, with cash flows relying entirely on interest accruals and non-operating receipts rather than core business generation.

Corporate Governance and CIRP Status

The company's operations have remained suspended since March 2020 due to a shortage of working capital. The National Company Law Tribunal (NCLT), Mumbai Bench, initiated the CIRP on January 29, 2021. Ms. Kanak Jani serves as the Resolution Professional.

A resolution plan submitted by Fab Metals Pvt. Ltd., approved by the Committee of Creditors in January 2022, is currently pending approval from the NCLT. No board meetings were held during FY26 as the Board's powers remain suspended under Section 17 of the Insolvency and Bankruptcy Code.

Balance Sheet Signals

Total assets declined slightly to ₹17,886.70 lakh from ₹18,338.08 lakh. The company holds cash and cash equivalents of ₹1,555.04 lakh, an increase from ₹1,441.33 lakh in the previous year. However, the net worth remains deeply negative at ₹(37,419.17 lakh), compared to ₹(36,832.16 lakh) in FY25.