New Delhi: Debt-laden Future Group's FMCG arm Future Consumer on Saturday said it has defaulted in payment of Rs 449.04 crore due to bank loans as well as bond holders of the company due June end.
The total default till June 30, 2024 includes an amount of Rs 284.81 crore on loan and revolving facilities like cash credit from banks and financial institutions and Rs 164.23 crore on the company's borrowings through unlisted debt securities i.e. NCDs and NCRPs, Future Consumer Are included. Ltd (FCL) said in a regulatory filing.
FCL said its total outstanding on debt securities stood at Rs 222.06 crore as of June end, of which it defaulted on payment of Rs 164.23 crore to its non-convertible debenture holder CDC Emerging Markets (British International Investments) due on various dates from May 2022. . ,
“The total financial indebtedness of the listed entity including short-term and long-term debt” stood at Rs 506.87 crore as of June 30 this year, FCL said in the filing.
It further added that "the company is planning/working for asset monetization and debt reduction in the period this year".
FCL is in the business of manufacturing, branding and distribution of FMCG products including processed food and personal care.
It was part of 19 group companies operating in the retail, wholesale, logistics and warehousing segments that were to be transferred to Reliance Retail under the Rs 24,713 crore Reliance-Future deal announced in August 2020.
The total default till June 30, 2024 includes an amount of Rs 284.81 crore on loan and revolving facilities like cash credit from banks and financial institutions and Rs 164.23 crore on the company's borrowings through unlisted debt securities i.e. NCDs and NCRPs, Future Consumer Are included. Ltd (FCL) said in a regulatory filing.
FCL said its total outstanding on debt securities stood at Rs 222.06 crore as of June end, of which it defaulted on payment of Rs 164.23 crore to its non-convertible debenture holder CDC Emerging Markets (British International Investments) due on various dates from May 2022. . ,
“The total financial indebtedness of the listed entity including short-term and long-term debt” stood at Rs 506.87 crore as of June 30 this year, FCL said in the filing.
It further added that "the company is planning/working for asset monetization and debt reduction in the period this year".
FCL is in the business of manufacturing, branding and distribution of FMCG products including processed food and personal care.
It was part of 19 group companies operating in the retail, wholesale, logistics and warehousing segments that were to be transferred to Reliance Retail under the Rs 24,713 crore Reliance-Future deal announced in August 2020.
