Please find enclosed herewith intimation of delay in Redemption of Series IV NCD due on 20-12-2025
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Awaiting price reaction for this filing.
Harish Textile Engineers has defaulted on the redemption of its Series IV 7% secured, unrated, unlisted NCDs amounting to Rs. 1.47 crore, which were due on 20 December 2025. The company is also unable to pay the half-yearly interest due from 1 April 2025 to 20 December 2025 on these debentures. This follows an earlier partial default on Series III NCDs (Rs. 0.65 crore still unpaid since 7 October 2025). The company blames a manufacturing sector slowdown and ongoing cash flow/liquidity crunch for the delay. A meeting of NCD holders has been called for 22 December 2025 to discuss settlement options, while the management says the liquidity crisis is temporary and will not affect going concern.
This is a clear debt default event that signals serious financial stress — retail investors should treat this as a red flag for credit risk and expect heightened volatility/negative sentiment in the stock. With total financial indebtedness of Rs. 31.64 crore and now two series of NCD defaults, the company's ability to meet obligations is under question.