Dharani Sugars & Chemicals Limited has informed the Exchange regarding 'Disclosure of Default payment of Interest/ repayment of principle amount on loans from Banks/ FI 05052026'.
Awaiting price reaction for this filing.
Dharani Sugars & Chemicals Limited has disclosed a loan default with IFCI Ltd. The default occurred on 6th April 2026, with a total default amount of Rs 61.11 crores comprising principal default of Rs 57.46 crores and interest default of Rs 3.65 crores. The company has outstanding secured loans totaling Rs 314.18 crores, including Rs 253.08 crores from National Asset Reconstruction Company Ltd at 12% interest and loans from Sugar Development Fund at 5.75% interest. This is a mandatory disclosure under SEBI guidelines for listed entities.
This is a significant negative development indicating financial stress. The loan default may lead to credit rating downgrades, increased borrowing costs, and potential invocation of security provisions by lenders. Shareholders should be cautious as the stock may face selling pressure.