Intimation regarding default.
RKEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RKEC Projects has disclosed defaults on principal repayment and interest payments to multiple lenders, including Bank of Baroda, HDFC, ICICI, Kotak Mahindra, CSB, Mahindra Finance, HDB Financial, Aditya Birla Finance, Vivriti Capital, and others. The current default amount stands at ₹26.71 crore in principal plus ₹1.41 crore in interest, totaling approximately ₹28.12 crore. The company's total financial indebtedness is ₹194.29 crore across term loans, cash credit facilities, and bill discounting. The management has indicated they are hopeful of securing additional funds to clear these outstanding obligations but has not confirmed any arrangement yet.
This is a negative signal for shareholders — the company is unable to meet its debt obligations on time, which could lead to lender action, further stress on cash flows, and potential downward pressure on the stock price. Continued defaults may also trigger credit rating downgrades and limit access to new funding.