Williamson Magor & Co. Limited, the promoter group company of mcleod russel , has confirmed that the promoter group and persons acting in concert have not created any encumbrance on their shareholdings as of March 31, 2026. This disclosure was submitted to the stock exchanges in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The confirmation ensures that the shares held by the promoters remain free from charges such as pledges or hypothecation, other than those already disclosed during the financial year ended March 31, 2026.

The letter, addressed to the secretaries of BSE Limited, National Stock Exchange of India Ltd, and The Calcutta Stock Exchange Limited, was signed by SK Javed Akhtar, Company Secretary of Williamson Magor & Co. Limited. The filing explicitly states that no new encumbrances have been made directly or indirectly by the promoters or persons acting in concert of McLeod Russel India Limited.

Shareholding Details

The disclosure includes an annexure detailing the number of shares held by each member of the promoter group and persons acting in concert as of March 31, 2026. The data provides a comprehensive view of the promoter group's equity structure in the target company.

McLeod Russel India Limited reported a net loss of ₹9,086 lakh for the financial year ended March 31, 2026, on a standalone basis, compared to a net loss of ₹19,636 lakh in the previous year. Revenue from operations for the year stood at ₹97,482 lakh. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026.

The company's statutory auditors, Lodha & Co LLP, issued an adverse opinion on the standalone financial results. The auditors cited material uncertainties regarding the recoverability of Inter-Corporate Deposits (ICDs) aggregating to ₹2,86,050 lakh given to promoter group entities, of which ₹41,421 lakh remains unprovided. Additionally, the auditors noted non-recognition of interest on loans and ICDs, non-determination of fair value of assets, and pending statutory liabilities.

Debt Restructuring and Going Concern

The company has executed debt restructuring plans with National Asset Reconstruction Company Limited (NARCL) and JC Flower Asset Restructuring (JCAF). Borrowings of ₹2,48,330 lakh assigned to NARCL have been restructured into a sustainable debt of ₹1,05,000 lakh, payable over three years. An amount of ₹84,648 lakh representing unsustainable debt was adjusted as exceptional items. Similarly, borrowings of ₹74,966 lakh assigned to JCAF were restructured, with ₹44,247 lakh adjusted as exceptional items. The resolution is subject to the execution of a Master Restructuring Agreement (MRA) and fulfillment of conditions precedent.

The auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern. Current liabilities exceeded current assets, and the net worth has been significantly impacted by operational losses and non-recoverable loans. The financial statements have been prepared on a going concern basis, relying on the successful implementation of the restructuring plans and future operational cash flows.

Financial Performance

Exceptional items for the year included a net gain of ₹14,695 lakh, primarily comprising a provision of ₹1,43,590 lakh against ICDs and a net adjustment of ₹1,28,895 lakh related to debt restructuring. The Board also approved the re-appointment of cost auditors and internal auditors for the financial year 2026-2027.