IL&FS Engineering shares in focus after Rs 2,628 crore loan default disclosure
IL&FS shares have posted a 1-year gain of 0.79%, but on a year-to-date (YTD) basis, the stock has fallen by 7.25%. Over the past six months, it has declined by 8.50%, and in the last three months, it has decreased by 6.05%.
By Nishtha Awasthi, ETMarkets.com |
ETMarkets.com
The shares of IL&FS Engineering and Construction Company are expected to remain in focus on Tuesday, April 8, after the company disclosed a default of Rs 2,628.15 crore on loans and revolving credit facilities from banks and financial institutions, as per regulatory filings.
In compliance with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, the company filed its latest disclosure indicating a total outstanding amount of Rs 2,628.15 crore as of March 31, 2025, all of which has been classified as default.
The company’s financial indebtedness, including both short-term and long-term debt, stands at a significant Rs 3,097.71 crore.
The filing also showed no outstanding amounts under unlisted debt securities, such as NCDs or NCRPS, marking “NIL” under those heads.
The filing clarifies that no interest is being accrued or provided post the cutoff date, in line with directions from the National Company Law Tribunal (NCLT), except for interest on Funded Interest Term Loans (FITL).
Also read: India VIX's biggest jump in a single day signals rocky road ahead
IL&FS Engineering and Construction Company share price history
The shares of IL&FS have shown a 1-year gain of 0.79%, while on a year-to-date (YTD) basis, it has declined by 7.25%. Over the past six months, the stock is down by 8.50%, and in the last 3 months, it has recorded a fall of 6.05%. However, the 1-month performance reflects a positive change, with the stock gaining 5.45%.
On Monday, IL&FS Engineering and Construction Company shares closed 2% higher at Rs 38 on the BSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
In compliance with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, the company filed its latest disclosure indicating a total outstanding amount of Rs 2,628.15 crore as of March 31, 2025, all of which has been classified as default.
The company’s financial indebtedness, including both short-term and long-term debt, stands at a significant Rs 3,097.71 crore.
The filing also showed no outstanding amounts under unlisted debt securities, such as NCDs or NCRPS, marking “NIL” under those heads.
The filing clarifies that no interest is being accrued or provided post the cutoff date, in line with directions from the National Company Law Tribunal (NCLT), except for interest on Funded Interest Term Loans (FITL).
Also read: India VIX's biggest jump in a single day signals rocky road ahead
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IL&FS Engineering and Construction Company share price history
The shares of IL&FS have shown a 1-year gain of 0.79%, while on a year-to-date (YTD) basis, it has declined by 7.25%. Over the past six months, the stock is down by 8.50%, and in the last 3 months, it has recorded a fall of 6.05%. However, the 1-month performance reflects a positive change, with the stock gaining 5.45%.
On Monday, IL&FS Engineering and Construction Company shares closed 2% higher at Rs 38 on the BSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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