Patspin India Limited, a leading textile and industrial manufacturing company, has disclosed a default of Rs 14.58 crore on its financial obligations to banks and financial institutions as of September 30, 2025. The disclosure, made pursuant to SEBI Circular SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, is in compliance with SEBI Listing Regulations.

Details of the Default

The total outstanding borrowings of Patspin India from banks and financial institutions amount to Rs 56.67 crore, which includes both short-term and long-term debt. Out of this, the defaulted amount consists of:

• Principal: Rs 10 crore

• Interest: Rs 4.58 crore

The default pertains to loans and revolving facilities such as cash credit from the following lenders:

• Central Bank of India: Principal Rs 33 crore, Interest Rs 2.68 crore, Total Default Rs 5.81 crore

• State Bank of India: Principal Rs 20.77 crore, Interest Rs 1.68 crore, Total Default Rs 3.66 crore

• Karur Vysya Bank: Principal Rs 2.91 crore, Interest Rs 0.22 crore, Total Default Rs 0.51 crore

The date of default for these obligations was reported as September 30, 2025.

Nature of Financial Obligation

The defaults are in relation to financial facilities extended by the banks to Patspin India, including short-term loans and revolving credit facilities. The company has provided a detailed breakup of principal and interest obligations for each lender in its official disclosure. This transparency aligns with regulatory requirements and ensures stakeholders are informed about the financial health of the company.

Compliance with SEBI Regulations

The disclosure has been submitted to BSE Limited in accordance with SEBI circular SEBI/HO/CFD/CMD1/CIR/P/2019/140 and relevant Listing Regulations. Patspin India has highlighted the current outstanding amount, nature of the obligations, and the banks involved to maintain full transparency with investors, regulators, and market participants.

Implications of the Default

The default reflects the company’s temporary inability to meet certain repayment obligations on time. While the total financial indebtedness remains Rs 56.67 crore, the company is expected to take steps to regularize the payments and manage its liquidity position.

About Patspin India Limited

Patspin India Limited is an established company in the textile and industrial sector, with its corporate office located in Kochi, Kerala. The company is ISO 9001:2005 and 14001:2005 certified and maintains a strong operational presence in India. Its financial obligations and loan management are closely monitored to align with regulatory compliance and corporate governance standards.

Conclusion

The disclosure of a Rs 14.58 crore default by Patspin India Limited underscores the importance of financial transparency and accountability under SEBI regulations. By providing detailed information about principal and interest defaults, lender details, and total outstanding borrowings, Patspin India ensures stakeholders are fully informed about the company’s financial position.

This announcement also serves as a reminder to investors, financial institutions, and market regulators about the critical nature of loan repayments and debt management, highlighting the corporate governance practices adopted by Patspin India Limited in line with regulatory expectations.

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