COMPLIANCE WITH REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015 & SEBI CIRCULARNO SEBI/HO/CFD/CMD1/CIR/P/2019/140 DATED 21.11.2019 INTIMATION OF DEFAULT IN THEPAYMENT OF PRINCIPAL (INSTALMENT) & INTEREST OF BANKS BY MTNL
MTNL · price
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On the reaction day the stock moved 5.2 pts less than Nifty Microcap 250 and 4.6 pts less 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 disclosed a continued default on bank loan repayments totalling Rs 8,584.93 crore, comprising Rs 7,794.34 crore in outstanding principal, Rs 1,868.61 crore in overdue principal, and Rs 790.59 crore in overdue interest. Seven public sector 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 MTNL's loans as Non-Performing Assets (NPAs), with NPA dates ranging from August 2024 to February 2025. The company's total bank borrowing stands at Rs 8,585 crore, while its overall financial indebtedness is Rs 34,484 crore, including Rs 24,071 crore in sovereign guarantee bonds. This is a recurring monthly disclosure of an ongoing default situation.
The continued multi-bank default signals severe financial distress and raises serious solvency concerns for the PSU telecom company. Shareholders should expect continued pressure on the stock, though government ownership may provide some backstop through debt restructuring or capital infusion.