Intimation regarding repayment and closure of Loan against Property
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Lancer Container Lines has fully repaid its Loan Against Property (LAP) of ₹37.89 crore that it had taken from HDFC Bank in June 2022, secured by its registered office premises in Navi Mumbai. The repayment was made from internal accruals and completed well ahead of the loan's scheduled maturity in May 2028. The outstanding amount under this facility is now Nil. The company continues to carry a total outstanding debt of ₹57.06 crore, with a debt-to-equity ratio of 0.46 times.
This is a positive development for shareholders — the company has reduced its debt burden ahead of schedule using its own cash flows, which signals financial strength and lower interest costs going forward.