Announced Thu, 16 Jul · 18:04 IST
Default on bank loans: Rs 15.57 cr overdue to Bank of Baroda and Bank of Maharashtra
MANGALAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+0.2%1-day move
₹27.25
prior close
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AI summary
Company disclosed a subsequent default on cash credit loans from Bank of Maharashtra (Rs 951.19 lakh) and Bank of Baroda (Rs 606.08 lakh), totaling about Rs 15.57 crore. The defaults started on 17 October 2025 and 20 October 2025 respectively, and have continued for more than 30 days. The company stated it is arranging payment of the overdue amounts. This is a follow-up to an earlier intimation dated 16 February 2026.
Likely market impact
Sustained loan defaults signal serious financial stress. May lead to NPA classification, higher borrowing costs, and negative impact on the stock price.