COMPLIANCE WITH REGULATION 30 OF SEBI (LODR), 2015 & SEBI CIRCULAR NO SEBI/HO/CFD/CMD1/CIR/P/2019/140 DATED 21.11.2019 INTIMATION OF DEFAULT IN THE PAYMENT OF PRINCIPAL (INSTALMENT) & INTEREST OF BANKS BY MTNL
MTNL · price
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On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 1.2 pts more than its Telecom - Cellular & Fixed line services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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MTNL has defaulted on loan repayments to seven banks, with the defaults ranging from August 2024 to February 2025. All seven banks — Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab & Sind Bank, and Indian Overseas Bank — have classified the company's loans as Non-Performing Assets (NPAs). The total bank loan outstanding is Rs 8,415.55 crore, of which Rs 7,794.34 crore in principal and Rs 621.21 crore in interest is overdue. MTNL's total financial indebtedness stands at Rs 33,791 crore, including bank loans, sovereign guarantee bonds, and a DoT loan. This is a continuation of repeated defaults flagged in earlier monthly disclosures.
This is a major negative signal for shareholders — the default confirms severe liquidity stress and means MTNL's bank loans are now classified as NPAs, which could trigger further actions from lenders and impact the company's ability to raise fresh credit. The stock may face continued pressure given the ongoing financial distress of the state-run telecom company.