Premium Plast Limited Announces Audited Financial Results and Details Fund Utilization
Premium Plast Limited confirmed the approval of its audited financial results and operational statements for the financial year ended March 31, 2026, following its Board meeting held on May 31, 2026. The Board considered and approved the audited financial results for the quarter and year, alongside the statutory audit report and the statement of fund utilization.Financial Performance Overview
The company released audited standalone financial results for the half year ended March 31, 2026, presenting key figures compared to the previous year.| Particulars | 2026 | As at 31st March 2025 |
|---|---|---|
| Share Capital | 1909.71 | 1,909.71 |
| Reserves and Surplus | 4117.97 | 3,430.68 |
| Share Application Money | 401.9 | |
| Long-term borrowings | 18.07 | 196.62 |
| Total | 8231.2 | 7,608.10 |
| Property, Plant and Equipment | 4035.4 | 2,497.01 |
| Inventories | 1488.45 | 1,847.67 |
| Cash and Bank Balances | 424.77 | 29.96 |
| Total | 8231.2 | 7,608.10 |
For the full year, the company reported a Net Profit after Tax of 687.29 and a Profit (Loss) for the year of 294.22 for the year ended March 31, 2026.
Fund Utilization and Compliance Status
The company provided details regarding the utilization of funds raised. The proceeds of the funds raised, amounting to Rs 2,619.54 lakhs, were utilized by the company for the purposes stated in the Offer Document.Details of the utilization of the IPO proceeds up to March 31, 2026, are as follows:
| Particulars | IPO Proceeds to be utilised as per Objects mentioned in Prospectus | IPO Amount | Unspent Amount/(Excess utilized) |
|---|---|---|---|
| Gross Proceeds of the Issue | 2619.54 | ||
| Less: Issue related Expenses | 310.51 | ||
| Net Proceeds of the Issue | 2309.03 | ||
| Expansion of Existing Manufacturing facility at 4 Pithampur, Madhya Pradesh and Purchase of Machineries. | 1655.44 | 725.93 | |
| Existing manufacturing facility. | 104.4 | ||
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company. | 223.12 | ||
| General corporate purposes | 326.07 | ||
| Unspent Amount | 1893.61 | 725.93 | |
| Balance IPO amount lying in the Escrow Account | 12.95 |
The company also confirmed that it received application money of Rs. 4,01,90,325 towards the issuance of equity shares on a preferential basis through a private placement route. The company confirmed that it utilized the funds in compliance with the stated objects.
Audit and Operational Findings
The audit report for the financial statements of the year ended March 31, 2026, provided an opinion stating that the financial statements give a true and fair view in conformity with applicable accounting standards. Furthermore, the auditors found that the company has adequate internal financial controls with reference to financial statements, and these controls were operating effectively as at March 31, 2026.In terms of related party transactions, the company noted that disclosure requirements are not applicable as the company has listed its shares on the NSE Emerge Platform.
The board also reported that, as the company collectively operates only in one segment, segment disclosure is not applicable.
PREMIUM Stock Price Movement
On Friday, Premium Plast Limited shares shed ₹0.60, slipping 1.53% to close at ₹38.65. Trading volume for the day accounted for 6,000 shares, underscoring the session's bearish sentiment.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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