KH News Desk (firstname.lastname@example.org)
Coffee Day Enterprises Ltd (CDEL) has recently disclosed a total default of Rs 465.66 crore on interest payments and the repayment of principal amounts on loans from banks, financial institutions, and unlisted debt securities. The company, which is actively working on reducing its debt through asset resolution, currently carries a total debt of Rs 490.66 crore, encompassing both short-term and long-term obligations.
CDEL has attributed the delay in debt servicing to a liquidity crisis, as stated in a regulatory update. Specifically, the company has reported a default of Rs 215.11 crore on the principal amount of loans or revolving facilities such as cash credit from banks and financial institutions as of September 30, 2022. Additionally, CDEL has also defaulted on interest payments amounting to Rs 5.78 crore on the same loans.
Regarding unlisted debt securities such as Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS), the outstanding default stands at Rs 200 crore as of September 30, 2022, with an additional default on interest payments amounting to Rs 44.77 crore.
It is clear that Coffee Day Enterprises Ltd is currently facing financial challenges, resulting in defaults on interest and principal payments across various debts. The company continues to focus on resolving its debts and improving its financial situation.