Harish Textile Engineers defaults on NCD principal of Rs 2.12 Cr

Loan NpaCredit & Debt View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.9%Reaction day

₹65.25

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Nifty Microcap 250market · in no size index; the smallest one is used+1.3%+1.6% vs market

Industrial Products peers, median of 131sector+0.8%+2.2% vs sector

On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 2.2 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 131Pending

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AI summary

Harish Textile Engineers has defaulted on redemption of 7 percent unlisted NCD principal worth Rs 2.12 Crores across Series III and IV, originally due in October and December 2025. Interest accrued from 1st July 2026 onwards also remains unpaid, though interest up to 30th June 2026 was cleared. 20 investors are affected. The company cites ongoing financial constraints, with total financial indebtedness of Rs 30.25 Crores. Management says it is engaging with debenture trustees to arrange funds at the earliest.

Likely market impact

Negative credit signal. Continued default raises solvency concerns and signals liquidity stress, posing governance and repayment risks for shareholders.