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Vandan Foods Approves Rs 9.90 Cr Corporate Guarantee for Ditya Agri Industry
Vandan Foods Ltd's board approved issuing a corporate guarantee of up to Rs 9.90 crore in favour of Canara Bank for credit facilities availed by Ditya Agri Industry (OPC) Private Limited. The facilities include a Rs 5.00 crore term loan for acquiring an industrial unit at Vijapur, Gujarat, and Rs 4.90 crore for working capital. This contingent liability represents approximately 20.6% of Vandan Foods' net worth of Rs 48 crore. The borrower is not classified as a related party, though its sole shareholder holds 35,200 equity shares (0.42%) in Vandan Foods.
Confidence: HIGH
What changedVandan Foods has agreed to act as a guarantor for Rs 9.90 crore in bank credit facilities for a third-party entity.
Why it mattersThe guarantee adds Rs 9.90 crore of contingent liability, equivalent to ~20.6% of the company's net worth (Rs 48 crore), creating financial risk if the borrower defaults.
Total Guarantee Amount: Up to 9.90 CroreTerm Loan Facility: Up to 5.00 CroreWorking Capital Facility: Up to 4.90 CroreBorrower Shareholding in Company: 0.42%Guarantee vs Net Worth: ~20.6%
📅 Short termExecution of the corporate guarantee deed post Canara Bank's formal facility sanction; minimal immediate cash flow impact as it is off-balance-sheet.
📈 Long termLimited operational benefit disclosed; introduces credit exposure relative to the company's Rs 48 crore net worth base.
⚠ Risk flags
- Contingent liability risk: potential exposure of Rs 9.90 crore upon default
- Guarantee provided to an OPC entity where commercial synergy is not explicitly detailed
- Borrower's sole director holds equity stake in Vandan Foods
Key Highlights
Board approved corporate guarantee of up to Rs 9.90 crore to Canara Bank
Guarantee covers Rs 5.00 crore term loan and Rs 4.90 crore working capital for Ditya Agri Industry (OPC) Pvt Ltd
Term loan supports acquisition of factory land, building, and machinery at Vijapur, Dist. Mehsana
Sole shareholder of the borrower holds 35,200 shares (0.42%) in Vandan Foods Ltd
Maximum liability upon invocation is limited to Rs 9.90 crore as a contingent liability
👀 What to Watch
Monitor whether the bank formally sanctions the credit facilities and check future quarterly disclosures for any invocation risk or commercial rationale behind backing an OPC entity.
