Disclosure in terms of SEBI circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated 21st November,2019
Awaiting price reaction for this filing.
Future Consumer Limited has disclosed complete default on all its debt obligations as of 31 March 2026. The company has defaulted on Rs 325.26 crore of bank loans and revolving facilities, representing 100% of outstanding bank debt. It has also defaulted on Rs 290.41 crore of unlisted NCDs held by Resurgent India Special Situations Trust, which includes Rs 158.82 crore principal and Rs 131.59 crore accrued interest. Total financial indebtedness stands at Rs 615.67 crore, all of which is in default. The company states it is working on asset monetisation and debt reduction plans.
This is an extremely negative development for shareholders. The company has defaulted on the entirety of its debt portfolio, signalling severe financial distress and potential insolvency proceedings. Existing shareholders face extreme risk of total value destruction as creditors will have priority claims on any remaining assets.