Aban Offshore Ltd

Dematerialisation processing and listing

• Dematerialisation requests processed for quarter ended 30.09.2026; DP accepted/rejected and reported to depositories.
• Securities dematerialised listed on exchanges where the existing securities are listed.
• Physical certificates dematerialised mutilated and cancelled after verification; depository named registered owner within time limit.

Aban Offshore Ltd – Trading Window Closure from 01.10.2026 until 48 hours after the declaration of financial results for the Quarter/Half year ended September 30, 2026.

Financials & CIRP status

• NCLT admitted CIRP on 01 Sep 2025; RP appointed; results signed 25 Sep 2026.
• Auditors disclaim due to material going-concern uncertainty.
• Group operates a single Offshore Drilling segment.
• Results: Q1 FY2026 unaudited for quarter ended 30 Jun 2026.
• Overdue investment in preference shares: INR 94.34 million; recoverability considered by management.
• Not recognised interest on bank borrowings or dividend on cumulative redeemable shares Apr–Jun 2026.
• Interest income on inter-corporate loan recognised at reduced rate since 01 Oct 2025.
• No reinstatement of foreign currency borrowings as of 30 Jun 2026.
• Liabilities under CIRP to be determined; RP receiving creditor claims.
• Clause 52(6) LODR: INR 2,630 million non-convertible redeemable preference shares not redeemed; no dividend.
• Consolidated quarter ended 30 Jun 2026 total income: INR 1,652.55 million.
• Consolidated results taken on record on 25 Sep 2026.

CIRP status and board disclosure

• Aban Offshore confirms ongoing CIRP since 01 September 2025, overseen by a Resolution Professional.
• No board meeting was held on 14 August 2026; statements signed by the Resolution Professional.
• Disclosure timing under Regulation 30(6) LODR is not applicable when no meeting occurred.
• Financial statements referenced in corporate announcement were signed by the Resolution Professional, not approved by board.
• Ongoing CIRP status implies governance and decision-making remain under insolvency process with Resolution Professional oversight.

Key financials and CIRP disclosures

• Standalone and consolidated results for year ended 31 March 2026 audited and taken on record by RP.
• Auditors' disclaimer of opinion on standalone and consolidated results due to bank confirmations and going-concern uncertainties.
• CIRP ongoing; RP appointed; management and operations under RP on going concern basis.
• Redeemable NRPS totals Rs 2,630 million; six series outstanding; no dividends paid; due for redemption.
• NRPS credit rating CARE D.
• CSR provision not made (Rs 4.62 million) due CIRP.
• Assets held for sale reclassified back to PPE (land Rs 123.45 million).
• Bank confirmations missing: balances Rs 592.98 million; term loans Rs 4,148.03 million as at 31 Mar 2026.
• Revenue adjustments: inter-corporate loan interest at reduced rate; revenue from services at lower rate.
• Standalone net worth negative; current liabilities exceed assets; going concern uncertainties.

Financial performance & CIRP status

• CIRP initiated; RP appointed; operations overseen by RP.
• Consolidated turnover Rs 4,327.11 million; net loss Rs (5,104.75) million.
• EPS Rs (90.63); net worth negative Rs (282,407.24) million.
• Auditors issued disclaimer of opinion for standalone and consolidated results.
• NRPS outstanding Rs 2,630 million; no dividend paid; redemption due.
• Credit rating on NRPS: CARE D.
• Labour Code exceptional items recognized; going concern depends on CIRP progress.
• Cash flow: consolidated net cash from operations Rs 158.19 million; end-year cash Rs 678.54 million.
• Total assets Rs 15,555.39 million; total liabilities Rs 299,962.63 million.

Balance sheet & liquidity notes

• Standalone net worth negative Rs 9,627.95 million; consolidated negative Rs 282,407.24 million.
• Consolidated PPE stands at Rs 4,063.87 million; assets held for sale transferred back per IBC.
• Moratorium active; CIRP claims pending; final liabilities to be determined.
• Bank confirmations missing for Rs 592.98 million and borrowings Rs 4,148.03 million.
• Debt/equity ratio negative; no NRPS redemption; no dividend.

Delay in results due to CIRP

• Aban Offshore is undergoing CIRP under IBC 2016, triggering delays in finalizing FY2026 results.
• Finalization of the March 31, 2026 annual results is now pending due to data collation and reconciliations.
• June 2026 quarter results will follow after auditors complete review, expected within 2–3 working days.
• Auditors must complete review procedures before finalization of June 2026 results.

Non-convertible securities status

• Outstanding non-convertible redeemable preference shares total Rs 281 crore; Rs 20 crore unlisted; not redeemed since 2014, suspended.