Future Consumer Future Enterprises

Future Consumer defaults on Rs 369.59 cr loan repayment in July-Sep

Future Consumer Ltd (FCL) has defaulted on the payment of Rs 369.59 crore towards principal and interest on loans from banks, financial institutions and unlisted debt securities in the September quarter. FCL, the FMCG arm of the debt-ridden Future Group, had defaulted on Rs 253.95 crore loans and revolving facilities like cash credit from banks and financial institutions as on September 30, a filing said on Thursday. The default amount for unlisted debt securities such as Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preferential Shares (NCRPS) is Rs 115.64 crore for the quarter, as per the regulatory disclosure. FCL's total financial liabilities is Rs 468.12 crore, including short-term and long-term debts. This includes Rs 266.80 crore debt from banks and financial institutions and Rs 201.32 crore from NCDs and NCRPS, the filing added. However, FCL added it is "is planning/working for asset monetization and debt reduction over the period in this year". FCL, pa

Future Consumer sells Nilgiri Dairy Farm to AVA Cholayil Healthcare

Debt-ridden Future Consumer Ltd on Tuesday announced the sale of its dairy business Nilgiri Dairy Farm to AVA Cholayil Healthcare for a total consideration of Rs 67 crore. As per the deal, Future Consumer has entered into a "transfer agreement for the transfer of entire business undertaking of The Nilgiri Dairy Farm Pvt Ltd (NDFPL)". This includes its franchisee operations, retail trade operations and the sourcing, processing, packaging and marketing of its dairy products, bakery products (except cookie plant), fast-moving consumer goods, staples and other products. This monetisation will help Future Consumer Ltd (FCL), which is in the business of manufacturing, branding and distributing FMCG food and processed food products and committed several defaults towards principal and interest due on NCDs. The board of the Future Group FMCG arm in a meeting held on Tuesday, approved the sale of NDFPL business to AVA Cholayil Healthcare, which is in the business of manufacturing, marketing

Future Consumer Q4 net loss widens to Rs 346 cr, revenue dips 32%

Future Consumer Ltd (FCL), the food-led FMCG company of debt-ridden Future Group, on Friday reported widening of its net loss to Rs 346.23 crore for the fourth quarter ended March 31, 2022. The company, which posted a net loss of Rs 155.12 crore in the January-March quarter a year ago, said due to the impact of COVID-19 and insolvency proceedings against its main customer Future Retail Ltd, there is a material uncertainty over the group's ability to continue as a going concern. Its revenue from operations was down 32.03 per cent to Rs 262.54 crore during the period under review, as against Rs 386.26 crore in the corresponding period last fiscal, FCL said in a regulatory filing. FCL's total expenses were at Rs 533.43 crore, up 6.67 per cent in Q4/FY 2021-22, as against Rs 500.06 crore. For the fiscal year ended March 2022, FCL's net loss was at Rs 449.75 crore. It had a net loss of Rs 483.30 crore in the previous year. However, its revenue from operations was at Rs 1,468.78 crore i

Future Enterprises defaults on non-convertible debentures' interest payment

Future Enterprises Ltd (FEL) has defaulted on payment of interest on non-convertible debentures (NCDs)

Future Consumer reports Rs 17-cr loss in July-September; net sales up 11%

The company had posted a loss of Rs 3.23 crore in July-September 2018-19, Future Consumer, formerly known as Future Consumer Enterprise Ltd, said in a BSE filing

60 stocks rally over 25% so far this week

Bombay Dyeing, Hisar Metal, Ess Dee Aluminium, Future Consumer and HFCL were up more than 30%.