Vardhman Polytex Limited has submitted its quarterly disclosure on loan payment status to stock exchanges, revealing significant defaults on bank borrowings as on March 31, 2026. The disclosure, made in compliance with SEBI Master Circular dated July 11, 2023, provides a comprehensive overview of the company's financial obligations and payment status.

Financial Indebtedness Overview

The company's financial disclosure presents a detailed breakdown of its borrowing position and default status across different categories of debt instruments.

Loan Facilities and Default Status

Vardhman Polytex reported total outstanding revolving facilities including cash credit from banks and financial institutions amounting to ₹54.38 crore as on March 31, 2026. Of this total amount, the company has defaulted on ₹17.33 crore, representing approximately 32% of its total bank borrowings.

Debt Securities Position

The company maintains a clean slate regarding unlisted debt securities, with no outstanding amounts in Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS). Both the total outstanding amount and default amount for unlisted debt securities stand at ₹0.00 crore.

Regulatory Compliance

The disclosure was submitted to both the National Stock Exchange of India Limited and BSE Limited as part of the company's quarterly compliance obligations. Company Secretary Ajay K. Ratra and Chief Financial Officer Radhamohan Soni signed the disclosure document, ensuring proper authorization and accountability for the financial information presented.

Total Financial Exposure

The company's total financial indebtedness, including both short-term and long-term obligations, amounts to ₹54.53 crore as on March 31, 2026. This figure encompasses all borrowing facilities and represents the company's complete debt exposure to financial institutions and other lenders.

Vardhman Polytex Limited has successfully completed a significant debt fundraising exercise through the allotment of non-convertible debentures worth Rs.75 crores. The board of directors approved this allotment during their meeting held on April 6, 2026, marking a key milestone in the company's capital raising activities.

NCD Allotment Details

The company has allotted 7,500 secured, rated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis. These debt instruments carry attractive terms for both the company and the investor.

Board Meeting and Regulatory Communication

The board of directors convened on Monday, April 6, 2026, to formalize the NCD allotment. The meeting commenced at 11.00 am and concluded at 12.00 noon, during which the directors approved the issuance terms and completed the allotment process.

The company has communicated this development to both National Stock Exchange of India Limited and BSE Limited through official regulatory filings. This allotment represents the culmination of the company's earlier announcements regarding the proposed issuance, which were previously communicated through letters dated March 17, 2026 and March 19, 2026.

Investment and Listing Framework

The NCDs have been structured as secured debt instruments, providing additional comfort to the investor through underlying security arrangements. The 18% coupon rate reflects the current market conditions and the company's credit profile. Special Situation India Fund, as the sole allottee under this private placement, will benefit from the regular coupon payments.

The decision to list these NCDs on BSE Limited will provide liquidity options and transparency for the debt instruments. This listing approach aligns with regulatory requirements under Regulation 30 and offers potential secondary market trading opportunities for the investor. The company secretary Ajay K. Ratra has formally communicated the allotment completion to the stock exchanges for regulatory compliance.