Priya Limited has formally notified stock exchanges about its upcoming board meeting scheduled for February 6, 2026, where directors will review and approve the company's third quarter financial performance for FY26.

Board Meeting Details

The meeting will take place at the company's registered office in Mumbai to consider several important matters related to the quarter ended December 31, 2025.

The board will specifically focus on considering and recording the unaudited financial results along with the limited review report for the third quarter of fiscal year 2026, in accordance with Regulation 33 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Trading Window Restrictions

In compliance with insider trading regulations, Priya Limited has implemented mandatory trading restrictions for company securities. The trading window closure affects all stakeholders who may have access to unpublished price-sensitive information.

Regulatory Compliance

The announcement follows standard corporate governance practices mandated by securities market regulations. The company has notified both BSE Limited and Calcutta Stock Exchange about the scheduled board meeting, ensuring full transparency with all relevant stakeholders.

The meeting notification was issued on January 30, 2026, providing adequate advance notice to investors and market participants. This timeline allows sufficient preparation for the financial results review and subsequent public disclosure of the company's quarterly performance for the period ended December 31, 2025.

Priya Limited , a company facing severe financial distress, has released its unaudited financial results for the quarter and nine months ended September 30, revealing a deepening crisis. The company's board approved these results, which paint a grim picture of its financial health and operational status.

Financial Performance

The company reported a net loss of Rs 94.56 lakh for the quarter, contributing to a negative net worth of Rs 5,084.66 lakh. This financial deterioration is part of a continuing trend, with the company incurring losses in both current and past periods.

Banking Issues and NPA Status

Priya Limited's accounts have been declared Non-Performing Assets (NPAs) by three major banks:

1. Indian Bank
2. Bank of Maharashtra
3. Union Bank of India

All three banks have taken the severe step of declaring the company, its promoters, directors, and corporate guarantors as willful defaulters. The management has reportedly contested these declarations.

Operational Challenges

The company's operational status has significantly deteriorated:

• Ceased all business operations due to blocked bank accounts
• Closed all branches except for Mumbai
• Laid off the majority of its employees across branches
• Revenue from operations during the current year is nil

Property Auctions and Debt Settlement Attempts

In an attempt to recover dues, the banks have taken several actions:

• Properties in Mumbai, Kolkata, and Chennai were auctioned
• The company voluntarily handed over possession of one Mumbai property to the bank
• A one-time settlement proposal was submitted, with Rs 175 lakh deposited against a proposed settlement of Rs 22.81 crore

Audit Concerns

The company's auditors, M/s. JM & Associates, have issued an adverse opinion, citing multiple concerns:

1. A provision of Rs 3,269.64 lakh for doubtful debts related to export sales
2. Vacancy in the Chief Financial Officer position since November 2022
3. Related party transactions not conducted at arm's length, including rent income receivable of Rs 74.86 lakh from a group company

Insolvency Proceedings of Related Parties

Two related parties of Priya Limited have initiated Corporate Insolvency Resolution Process:

1. VXL Instruments Limited (CIRP commencement date: 26.11.2024)
2. VXL Software Solutions Pvt. Ltd. (CIRP commencement date: 26.02.2025)

Change in Registered Office

The board has approved changing the company's registered office address within Mumbai, moving from Sharda Chambers to Chartered House in Dhobi Talao.

Conclusion

Priya Limited's financial results and accompanying disclosures reveal a company in deep financial distress, grappling with operational cessation, asset auctions, and significant banking issues. The adverse audit opinion and ongoing challenges paint a concerning picture for the company's future prospects.

Investors and stakeholders should closely monitor further developments, particularly regarding the company's debt settlement efforts and any potential restructuring plans.