Hindustan Construction Company Limited (HCC) announced the settlement of a significant client claim, amounting to ₹180 crore, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of the Settlement:
- Reduction in Advances: ₹130 crore of client advances have been reduced, leading to an annual saving of ₹15 crore in financing charges.
- Cash Consideration: The remaining ₹50 crore has been received as cash, directly enhancing the company’s liquidity.
Implications for HCC:
This settlement marks a significant step for HCC, improving its financial position by reducing financing costs and increasing cash reserves. The move aligns with the company’s focus on streamlining operations and strengthening its balance sheet.
HCC continues to prioritize financial discipline while seeking opportunities to optimize its resources and improve operational efficiency.
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HCC