<b>Format of the Annual Disclosure to be made by an entity identified as a Large Corporate : Annexure B1.</b><br/><br/> <table border=''1px''> <tr> <td><b>Sr. No.</b></td> ....
Awaiting price reaction for this filing.
Gammon India has filed a mandatory disclosure under SEBI's Large Corporate framework for the quarter ended 31 March 2024, revealing that its entire debt is in default. The company has ₹3,914.72 crore in outstanding loans and cash credit facilities from banks/financial institutions, and the full amount is in default. Additionally, ₹287.98 crore in unlisted debt securities (NCDs and NCRPS) are entirely in default. Total financial indebtedness stands at ₹4,202.70 crore, meaning essentially 100% of the company's debt obligations are overdue. The disclosure was signed by Company Secretary Nirav Shah on 5 April 2024.
This is a deeply negative signal — the company is unable to service virtually all of its debt, indicating severe financial stress. Shareholders should expect continued pressure on the stock, potential restructuring of debt, and significant dilution or equity losses depending on how lenders enforce their rights.