BGR Energy Systems Limited has submitted its mandatory financial indebtedness disclosure to stock exchanges, revealing the company's debt position as of December 31, 2025. The disclosure, made in compliance with SEBI regulations, provides a comprehensive overview of the company's borrowing structure and repayment status.

Financial Indebtedness Breakdown

The company's financial disclosure presents a detailed breakdown of its debt obligations across different categories. The information was submitted to both the National Stock Exchange of India Limited and BSE Limited on January 7, 2026, ensuring transparency for all stakeholders.

Debt Composition Analysis

The primary component of BGR Energy Systems' financial indebtedness consists of loans and revolving facilities from banks and financial institutions, totaling ₹3,534.93 crores as of December 31, 2025. This represents the bulk of the company's borrowing portfolio, indicating a traditional banking relationship-based financing approach.

The company reported zero outstanding amounts in unlisted debt securities, including Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS). This suggests the company has not utilized capital market instruments for debt financing during this period.

Compliance and Regulatory Adherence

The disclosure was made pursuant to SEBI Circular SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, and the SEBI Master Circular dated July 11, 2023. This regulatory framework mandates listed companies to provide periodic updates on their financial indebtedness to ensure market transparency.

Key compliance highlights include:

• Timely submission to both NSE and BSE
• Comprehensive categorization of debt instruments
• Clear reporting of default status across all categories
• Adherence to prescribed disclosure format

Default Status and Financial Health Indicators

A significant aspect of the disclosure is the company's clean repayment record, with no defaults reported across any category of financial indebtedness as of December 31, 2025. This indicates the company's ability to service its debt obligations despite carrying substantial borrowings of nearly ₹4,000 crores.

The absence of defaults on bank loans and revolving facilities worth ₹3,534.93 crores demonstrates the company's commitment to maintaining healthy banking relationships and meeting its financial obligations on schedule.

BGR Energy Systems Limited has received a significant GST demand order from tax authorities, requiring the company to pay ₹32.11 crores for alleged tax violations during the period from April 2018 to March 2021. The company disclosed this development through a regulatory filing on December 31, 2025.

GST Order Details

The Joint Commissioner of GST, Guntur–Visakhapatnam–Amaravathi Commissionerate, CBIC, Andhra Pradesh, issued the Order-in-Original dated December 31, 2025, under Sections 74 and 122 of the CGST Act, 2017. The order addresses tax compliance issues spanning three financial years.

Nature of Alleged Violations

The GST order alleges short payment or non-payment of GST in relation to certain taxable supplies during the financial years 2018-19 to 2020-21. The tax demand breakdown shows specific components that contribute to the overall liability.

The order specifically targets taxable supplies made by the company during the three-year period, suggesting discrepancies in GST compliance and payment obligations.

Company's Response Strategy

BGR Energy Systems has indicated its intention to challenge the GST order through the appropriate legal channels. The company stated that it will be filing an appeal against the Order-in-Original, suggesting it disputes the allegations and the quantum of demand raised by the tax authorities.

The company has not provided specific details about the timeline for filing the appeal or the grounds on which it plans to contest the order. The appeal process will allow BGR Energy Systems to present its case before higher tax authorities and seek relief from the demanded amount.

Regulatory Compliance

The disclosure was made under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory requirement ensures that material developments affecting listed companies are promptly communicated to stock exchanges and investors.

The company received the order on December 31, 2025, and made the disclosure on the same date, demonstrating compliance with immediate disclosure requirements for significant regulatory actions. The filing was signed by S. Sundar, Company Secretary & Compliance Officer of BGR Energy Systems Limited.