Future Consumer Limited has informed the Exchange regarding '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 a complete default on its financial obligations. The company has defaulted on ₹325.26 crore of bank loans and revolving facilities (100% of outstanding amount). It has also defaulted on ₹290.41 crore of unlisted NCDs held by Resurgent India Special Situations Trust, which includes principal of ₹158.82 crore and accrued interest of ₹131.59 crore. The NCD defaults span multiple periods from May 2022 to February 2025. Total financial indebtedness stands at ₹615.67 crore. The company states it is working on asset monetisation and debt reduction plans.
This is a severe credit event indicating extreme financial distress. All bank borrowings and NCD obligations are in default, leaving creditors with no repayment. Shareholders face significant risk of value destruction as the company attempts to monetise assets to service its debt.