BGR Energy Systems Ltd announced on April 22 in an exchange filing that Union Bank has classified the company’s account as a non-performing asset (NPA) with effect from March 29.
"The Company has received communication from the Ninth bank, namely Union Bank of India, Large Corporate Branch, Chennai on 03 April informing classification of Company’s Account(s) with it as Non-Performing Asset w.e.f. 29 March 2024", it stated in the exchange filing.
"As on 31 March, the overall credit exposure of the Company with the said bank was Rs.188 Crores (Rs.48 Crores fundbased and Rs.140 Crores non-fund based working capital facilities)." "The total financial indebtedness of the listed entity including short-term and long-term debt is Rs 4190 crore," it further said in the regulatory filing.
The total outstanding borrowings of BGR Energy Systems from financial institutions added up to Rs 3,758 crore, of which fund-based borrowings and non-fund-based borrowings were Rs 1,400 crore and Rs 2,358 crore, respectively.
The stock of BGR Energy Systems closed down 1.91 percent at Rs 38.50 on the BSE on April 22.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
