Coffee Day Enterprises (CDEL) has reported a total default of Rs 433.91 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions, and unlisted debt securities as Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS) for the quarter ended June 30, 2024 (Q1 FY25). The company attributed the delay in debt servicing to a liquidity crisis.
There is no change in the default amount as the company has reported a similar amount in previous quarters. This is because the company is not adding interest from 2021. CDEL has reported a default of Rs 183.36 crore on the payment of the principal amount on loans or revolving facilities like cash credit from banks or financial institutions as of June 30, 2024. Besides, it has also defaulted in payment of interest of Rs 5.78 crore on the above.
Coffee Day Enterprises is the parent company of the Coffee Day Group, which houses Cafe Coffee Day that pioneered the coffee culture in the chained cafe segment in India.
