BGR Energy's loan account classified as NPA by Union Bank

23 Apr 2024 , 02:29 PM

In an exchange filing dated April 22, BGR Energy Systems Ltd declared that, as of March 29, Union Bank has designated the company’s account as a non-performing asset (NPA).

“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” , according to the exchange filing.

“As on 31 March, the overall credit exposure of the Company with the said bank was ₹188 Crores (₹48 Crores fundbased and ₹140 Crores non-fund based working capital facilities).” In the regulatory filing, it added, “The listed entity’s total financial indebtedness, including short-term and long-term debt, is ₹4190 Crore.”

BGR Energy Systems owed financial institutions a total of ₹3,758 Crore in outstanding debt, of which ₹1,400 Crore and ₹2,358 Crore were fund-based and non-fund-based, respectively.

On April 22, BGR Energy Systems’ stock ended the day 1.91% lower at ₹38.50 on the BSE.

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