Oriental Carbon & Chemicals Ltd, GVK Power & Infrastructure Ltd, Butterfly Gandhimathi Appliances Ltd and Parshva Enterprises Ltd are among the other losers in the BSE’s ‘B’ group today, 24 July 2024.

Purple Finance Ltd leads losers in ‘B’ group

As the entity now awaits a new buyer under the insolvency process, concerns arise about what remains of the group and the listed entity

GVK Power in insolvency, but GVK group continues interests in other sectors

In November 2020, ICICI Bank invoked its corporate guarantee, demanding Rs 5,000 crore towards principal and interest from GVKPIL.

GVK Power and Infrastructure Faces Insolvency Proceedings, Stock Hits 5% Lower Circuit - News18

ICICI Bank had petitioned the court in November 2020 to pursue the recovery of its $1.35 billion lent through its Dubai, Bahrain and Singapore branches along with 3 other lenders. Court documents show GPIL owes more than $2.6 billion in loans and corporate guarantees issued by lenders, mainly from foreign branches.

NCLT admits GVK Power & Infra with dues of Rs 18k cr to insolvency

GVK Power and Infrastructure Ltd (GVKPIL) will face insolvency proceedings for failure to pay loans to lenders, a corporate insolvency court has said.

GVK Power and Infrastructure faces insolvency proceedings on loan default

NCLT appointed Satish Kumar Gupta as an interim resolution professional for managing the company during pendency of the insolvency. “The corporate debtor has acknowledged its liabilities and admitted the factum of corporate guarantee in its annual reports for the FYs 2018-19, 2019-20, and 2020-21. As on June 13, 2022, the borrower was liable to pay USD 1.84 billion comprising principal amount of USD 1.13 billion, interest of USD 731.57 million and agency fee of USD 144,000,” according to the NCLT order, which was made public by GVKPIL in the stock exchange filing.

GVK Power and Infrastructure Ltd faces insolvency proceedings

GVK Power and Infrastructure is the parent company of GVK Power (Goindwal Sahib). The RP did not respond to ETs request for comments. GVK Power (Goindwal Sahib) operates two thermal power plants of 270 MW each in Punjab and partnered with Coal India for coal supply.

Adani and Jindal companies, Vedanta in race for GVK Power’s Punjab unit

Its profit was Rs 2,395.01 crore in the July-September period of the preceding 2021-22 fiscal, the company said in a BSE filing

GVK Power net profit falls manifold to Rs 153.87 crore in Sep qtr

Debenture holders have moved the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against GVK Power and Infrastructure, the ultimate holding company of GVK, claiming the holding company had guaranteed repayment of funds worth ₹312 crore provided to group companies, according t…

Debenture holders move NCLT over ’312-crore claim against GVK power

This is the second company of the GVK group, after GVK Industries, that has entered insolvency proceedings. The company has a debt of around Rs 3000 crore.

GVK Power (Goindwal Sahib) admitted for insolvency

Total income of the company rose to Rs 620.37 crore in the quarter from Rs 73.21 crore a year ago.

GVK Power & Infrastructure’s net loss widens to Rs 400 crore in Q1

Hasn't fared well - amongst the low performers

Performance

Undervalued compared to the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

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

GVK Power & Infrastructure Limited is a holding company. The Company operates in energy, airports, transportation and has presence in other business, such as resources and urban infrastructures.