Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for unlisted debt securities i.e. NCDs and NCRPS
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Harish Textile Engineers Ltd has informed BSE that it could not redeem its 7% Unlisted, Secured, Redeemable Non-Convertible Debentures (Series III) worth Rs. 64.72 lakh that were due on 7th October 2025. The company has also defaulted on interest payment of Rs. 2.34 lakh for the period from 1st April 2025 to 7th October 2025. The default affects 14 debenture holders and is attributed to a slowdown in the manufacturing sector along with cash flow constraints and a liquidity crunch. Management says it is working to arrange funds and expects to complete the redemption within the next two weeks. Total financial indebtedness of the company stands at Rs. 34.01 crore, and a fourth series of NCDs worth Rs. 1.467 crore is due for redemption on 20th December 2025.
This is a negative signal for shareholders — the company is struggling with liquidity and has defaulted on a small but material debt obligation, raising concerns about its financial health. Investors should watch for further defaults, especially the upcoming December 2025 redemption, and any potential impact on stock price and creditor confidence.