Future Consumer Limited has disclosed significant financial defaults totaling ₹596.58 crores as of December 31, 2025, in compliance with SEBI circular requirements. This disclosure comes alongside recent board restructuring following the resignation of Independent Director Birendra Kumar Agrawal.

Major Financial Defaults Disclosed

In a regulatory filing dated January 6, 2026, Future Consumer Limited revealed comprehensive details of its payment defaults across various financial instruments. The company's Chief Financial Officer Rajendra Bajaj submitted the disclosure under SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140.

The defaults encompass both principal repayments and interest obligations, with 100% of outstanding amounts currently in default status.

Unlisted Debt Securities Details

The unlisted debt securities default primarily involves Resurgent India Special Situations Trust, with multiple payment dates missed since May 2022. The breakdown includes:

Missed payment dates span from May 15, 2022, through February 15, 2025, indicating prolonged financial distress.

Board Restructuring Context

The financial defaults disclosure follows significant board changes announced earlier. Birendra Kumar Agrawal resigned from his position as Independent Director effective November 11, 2025, citing "extraordinary circumstances." His departure resulted in vacancies across multiple key positions:

• Chairman of the Company
• Chairman and Member of the Audit Committee
• Member of the Nomination and Remuneration Committee
• Member of the Stakeholders' Relationship Committee

Financial Performance Overview

The company's challenging financial position is further highlighted by recent performance metrics and strategic decisions:

The negative networth of ₹85.53 crores underscores the company's financial difficulties, while debt conversion measures for subsidiaries aim to reduce interest burden.

Recovery Plans

Despite the challenging situation, Future Consumer Limited has indicated strategic initiatives for financial recovery. The company stated it is "planning/working for Asset Monetization and Debt Reduction over the period in this year," suggesting active efforts to address the current financial crisis.

Stakeholders will be closely monitoring the company's progress on asset monetization plans and the appointment of new board members to fill critical governance positions.

Future Consumer Limited (FCL), a key player in India's consumer goods sector, has reported significant financial distress in its latest quarterly results. The company's financial health has deteriorated, raising concerns about its ability to continue as a going concern.

Financial Snapshot

FCL's financial position paints a grim picture:

Debt Restructuring and Legal Proceedings

The company is grappling with several financial and legal challenges:

1. Loan Defaults: FCL has defaulted on loan payments to banks and financial institutions, resulting in loans being classified as non-performing assets.

2. Debt Assignment: RBL Bank Limited has assigned FCL's financial debt to Prudent ARC Limited under the SARFAESI Act, indicating a potential restructuring of the company's debt obligations.

3. Debenture Transfer: The company received communication regarding the transfer of 2,000 debentures from British International Investment Plc to Resurgent India Special Situations Trust.

4. Legal Action: Resurgent India Special Situations Fund has filed a case against FCL at the National Company Law Tribunal.

Auditors' Concerns

The auditors have expressed material uncertainty about FCL's ability to continue as a going concern, citing:

• Ongoing liquidity issues
• Inability to conclude re-negotiations
• Challenges in obtaining replacement financing

Recent Corporate Actions

Despite the financial turmoil, FCL's Board of Directors has approved some strategic moves:

1. Conversion of Outstanding Dues: The company plans to convert outstanding dues into convertible securities to be issued by its subsidiary companies:

   • The Nilgiri Dairy Farm Private Limited (NDFPL): Up to ₹22.50 Crore
   • Aadhaar Retailing Limited (ARL): Up to ₹7.50 Crore

2. Subsidiary Performance:

   NDFPL (Figures in ₹ Lakhs):

   Metric	FY 2024-25	FY 2023-24	FY 2022-23
   Turnover	3,916.71	4,111.81	3,965.73
   Net Worth	-8,552.51	-	-

   ARL (Figures in ₹ Lakhs):

   Metric	FY 2024-25	FY 2023-24	FY 2022-23
   Turnover	37,748.20	31,108.47	28,574.91
   Net Worth	-10,643.05	-	-

These corporate actions aim to alleviate the interest burden on the subsidiaries, which are currently unable to meet their interest obligations.

The company's financial distress and ongoing restructuring efforts highlight the challenges faced by FCL in the current economic environment. Stakeholders will be closely watching the outcome of the legal proceedings and the effectiveness of the debt restructuring measures in the coming months.