AGS Transact Technologies Faces Severe Financial Crisis: Unpaid Salaries and Loan Defaults Jun 17, 2025
AGS Transact Technologies, a key player in ATM and payment solutions, is experiencing severe financial stress leading to operational issues and unpaid employee salaries. The company has non-functional ATMs, loan defaults, and owes over ₹592 crore to banks with ₹17 crore in overdue payments. Financial statements show declining total assets (-8.42%) and equity (-13.72%), with increasing current liabilities (+5.13%). However, operating cash flow has improved by 54.42%. The company is pursuing loan restructuring and considering stake sales in subsidiaries to address its financial challenges.
AGS Transact Technologies to Divest 90% Stake in Novus Technologies Apr 17, 2025
RBI to Scrutinize Cash Handling Operations of AGS Transact Mar 18, 2025
AGS Transact Technologies Migrates 50% of ATMs to Minimize Service Disruption Mar 12, 2025
AGS Transact Technologies Swiftly Migrates ATMs to Minimize Service Disruption Mar 11, 2025
AGS Transact Technologies is facing a severe financial crisis with ₹7.26 billion in defaulted obligations. Creditor Maxwel Aircon has initiated potential insolvency proceedings against the company. The stock has plummeted 62.4% since February 4, reflecting investor concerns. Multiple credit rating downgrades have further complicated the company's financial situation.