Shares of IL&FS Engineering and Construction Company Ltd fell 2.48% to ₹37.00 in early trade on April 8, slipping ₹0.94 from the previous close of ₹37.94. The stock touched an intraday low of ₹36.11 and a high of ₹38.00 during the session. The company’s market capitalization stood at ₹4.85 billion.
The drop comes after the company, in a regulatory filing dated April 7, disclosed loan defaults amounting to ₹2,628.15 crore as of March 31, 2025. These defaults relate to loans and revolving credit facilities taken from banks and financial institutions.
According to the filing made in line with SEBI’s 2019 circular for disclosure of loan defaults, the company also revealed that its total financial indebtedness — including both short-term and long-term borrowings — stands at ₹3,097.71 crore.
Notably, the company has reported no outstanding unlisted debt securities such as non-convertible debentures (NCDs) or non-convertible redeemable preference shares (NCRPS). The filing also mentioned that interest is not being accrued or provided beyond the cutoff date, in line with the directives of the National Company Law Tribunal (NCLT), except for Funded Interest Term Loans (FITL).
Stock performance snapshot:
- 1-year return: +0.79%
- Year-to-date (YTD): -7.25%
- 6-month performance: -8.50%
- 3-month return: -6.05%
- 1-month return: +5.45%
Despite a slight short-term gain in the past month, the stock has been under pressure over the medium term, and the latest default report may weigh further on investor sentiment in the near term.
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