A company court on Thursday admitted Bank of India Ltd’s petition to begin insolvency proceedings against Future Lifestyle Fashions Ltd on an alleged loan default

India tribunal allows bankruptcy proceedings against Future Lifestyle

Apart from Adani Group stocks, LIC’s holdings in companies like Future Lifestyle Fashions, Piramal Enterprises, Omaxe, Indus Towers, Laurus Labs, Jet Airways (India), Sunteck Realty, Bombay Dyeing, GTL Infrastructure, Aurobindo Pharma and Jaypee Infratech among others have also taken a huge beating …

For LIC, Adani is not the biggest problem

FLFL’s default of Rs 1,465.67 crore ‘comprised of the persisting default’ of Rs 436.01 crore for the September 2022 quarter

Future Lifestyle Fashion Debt Reduced To Rs 1,827.9 Crore

Tata Motors, Future Lifestyle, Shriram AMC, Safari Industries, DB Realty, Jagatjit Industries, GHCL, Advait Infra

Stocks that will see action on January 10, 2023

FLFL’s default of Rs 1,465.67 crore “comprised of the persisting default” of Rs 436.01 crore for the September 2022 quarter, the company said in a regulatory filing.

Future Lifestyle Fashion debt reduced to Rs 1,827.9 cr; total default at Rs 1,465.7 cr

Future Lifestyle Fashions reports consolidated net loss of Rs 7.53 crore in the September 2022 quarter

Aarti Industries, Abbott India, Agarwal Industrial Corporation, AIA Engineering, GE Power, Apollo Tyres, Balkrishna Industries, Bharat Forge, CESC, Dish TV, Eros International, FDC, Future Lifestyle, GMR Airports, Grasim Industries, Hinduja Global, JM Financial, Khaitan, Kaveri Seed, Marksans Pharma…

Q2 results this week: Aarti Industries, Abbott India and more

FLFL stated that the company is defending all claims before NCLT, and none of them has been admitted so far by NCLT

NCLT reserves one of the 3 petitions filed against Future Lifestyle

Three creditors - two financial and one operational - have filed claims totalling around Rs 1,100 crore before the National Company Law Tribunal (NCLT), said an update on other matters under the Insolvency and Bankruptcy Code by FLFL.

Future Lifestyle faces 3 insolvency petitions, NCLT reserves order in one

Future Lifestyle is conducting an e-voting, which commences on September 14, 2022, and ends on October 13, 2022, for this.

Future Lifestyle Seeks Members Nod For Sales Of Assets To Pare Debt

It has sought authorisation for its board to “sale, lease, rent, transfer or otherwise alienate / dispose of fixed assets (in-store retail infra assets) which are lying at non-operational stores of the Company” or in any other manner as the Board may deem fit.

Future Lifestyle seeks members’ nod for sales of assets to pare debt

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Future Lifestyle Fashions Limited is engaged in the business of branded clothes and retailing. Fashion division has brands such as Cover Story, Indigo Nation etc. Retail chains include Central, Brand Factory, Lee Cooper etc.