Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for unlisted debt securities i.e. NCDs and NCRPS
Awaiting price reaction for this filing.
Dharani Sugars & Chemicals has disclosed a default on loan obligations as of 29 April 2025. The date of default was 25 March 2025. The company has defaulted on a Sugar Development Fund (SDF) loan of ₹57.46 crore, comprising ₹37.72 crore in principal and ₹25.74 crore in interest. Total outstanding borrowings stand at ₹306.60 crore, including a ₹249.14 crore loan from National Asset Reconstruction Company Ltd (NARCL) at 12.01% interest maturing in 2029–2030. The disclosure was filed under SEBI's November 2019 circular regarding defaults by listed entities. There are no defaults on unlisted debt securities such as NCDs or NCRPs.
This default signals serious financial stress at Dharani Sugars, with ₹57.46 crore in unpaid dues to a government-backed sugar fund. The involvement of NARCL, a bad bank, as a major lender further highlights the company's distressed financial position, which is likely negative for shareholders and could weigh on the stock price.