Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for loans including revolving facilities like cash credit from banks ....
Awaiting price reaction for this filing.
Dharani Sugars & Chemicals Limited has disclosed a loan default event dated 06 April 2026. The principal amount in default with IFCI Ltd stands at Rs 57.46 crore and interest in default at Rs 3.65 crore, bringing the total current default to Rs 61.11 crore. Total outstanding secured borrowings amount to Rs 314.18 crore, comprising loans from National Asset Reconstruction Company Ltd (Rs 253.08 crore at 12.8% interest) and Sugar Development Fund (Rs 61.10 crore at 5.75% interest). The company filed this initial disclosure under SEBI's November 2019 circular requiring listed entities to report loan defaults. The default date recorded is 6 April 2026.
A Rs 61 crore default on loans signals significant financial stress for Dharani Sugars, likely to lead to credit rating downgrades and increased lender scrutiny, with negative implications for the company's ability to refinance existing debt.