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Mac Charles India Ltd (507836)

📊 BSE: 507836 🏢 Hotels & Resorts 📢 Latest filing: 13 Aug 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Mac Charles' revenue was ₹32.2 Cr (+46.5% year on year, +0.7% on the previous quarter), and net profit ₹-19.4 Cr (a smaller loss than a year earlier); the operating margin was 78.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹32.2	+46.5%	+0.7%
Operating profit	₹25.1	+93.4%	+4.7%
Net profit	₹-19.4	loss narrowed	loss widened
EPS (₹)	-14.82	loss narrowed	loss widened
Operating margin	78.0%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Mac Charles India Shareholders Approve FY26 Financials and Director Re-appointment at 46th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Aug 2026, 06:06 PM

Mac Charles India Ltd held its 46th Annual General Meeting on August 13, 2026, where shareholders approved the audited financial statements for FY26. The company reported a TTM revenue of ₹111 Cr but remains under significant financial stress with a TTM loss of ₹116 Cr and a negative net worth of ₹-11 Cr. Shareholders also passed a special resolution for the continuation of Mr. P.R. Ramakrishnan as a Non-Executive Director beyond the age of 75. All resolutions were passed with a near-unanimous majority of 99.998%.

99.998% of the 1,04,90,290 votes cast were in favor of adopting the FY26 financial statements.
Special resolution passed for Mr. P.R. Ramakrishnan to continue as Director beyond age 75, effective June 19, 2027.
Company reported a TTM loss of ₹116 Cr against a revenue of ₹111 Cr.
Debt levels remain extremely high at ₹1508 Cr compared to a negative net worth of ₹-11 Cr.

💡 Investors should focus on the company's high debt-to-equity situation and persistent losses rather than these routine AGM approvals. Monitor future filings for any debt restructuring or capital infusion plans.

Mac Charles India Reports ₹1,528.8 Cr Total Assets in Q1 FY27 Asset Cover Filing

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 13 Aug 2026, 05:08 PM

Mac Charles India has submitted its quarterly asset cover certificate for the period ended June 30, 2026, as required for its listed debt securities. The company reports total book value assets of ₹15,288.50 million (approx ₹1,528.8 Cr), with the 'Embassy Zenith' investment property being the largest component at ₹6,319.28 million. Total liabilities on a book value basis are reported at ₹11,459.61 million, primarily driven by term loans of ₹10,704.58 million. This filing provides transparency on the collateral backing the company's significant debt, which stands at ₹1,508 Cr against a negative net worth of ₹-11 Cr.

Total book value of assets stood at ₹15,288.50 million as of June 30, 2026.
Investment property (Embassy Zenith) is valued at ₹6,319.28 million on a book value basis.
Term loans and vehicle loans constitute the majority of liabilities at ₹10,704.58 million.
Investments in subsidiaries, equity, and mutual funds are recorded at ₹2,035.20 million.
Loans given to subsidiaries and other loans amount to ₹3,156.10 million.

💡 Investors should monitor the company's quarterly interest coverage and debt servicing capability, given the high leverage and negative net worth reported in recent financials.

Mac Charles India Repays ₹50 Cr NCDs; Extends ICD Tenure by 5 Years

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 13 Aug 2026, 05:00 PM

Mac Charles India approved its Q1 FY27 financial results and reported a total financial indebtedness of ₹1,070.46 crore as of June 30, 2026. The company successfully repaid ₹50 crore of Non-Convertible Debentures (NCDs) during the quarter. Additionally, the board approved a 5-year tenure extension for Inter Corporate Deposits (ICDs) with Mac Charles Hub Projects Private Limited and a ₹3.5 crore related-party transaction for electricity supply. The company continues to operate under significant leverage with a negative net worth.

Repaid ₹500 million (₹50 crore) of Non-Convertible Debentures during the June 2026 quarter
Total financial indebtedness reported at ₹10,704.58 million (₹1,070.46 crore) as of June 30, 2026
Extended the tenure of existing Inter Corporate Deposit agreements with a group entity by 5 years
Approved a related party transaction for electricity wheeling worth up to ₹3.5 crore
Security cover includes investment property (Embassy Zenith) with a book value of ₹6,319.28 million

💡 Investors should monitor the company's ability to service its remaining ₹1,070 crore debt given its negative net worth and TTM losses. The 5-year extension of ICDs suggests a prolonged timeline for settling inter-group financial obligations.

Mac Charles India Q1 Results: Repays ₹50 Cr NCDs and Extends ICD Tenure by 5 Years

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 13 Aug 2026, 04:57 PM

Mac Charles India approved its Q1 FY27 results, highlighting a total financial indebtedness of ₹1,070.46 Cr as of June 30, 2026. The company successfully repaid ₹50 Cr of Non-Convertible Debentures (NCDs) during the quarter. Additionally, the board approved a related party transaction for electricity supply worth up to ₹3.5 Cr and extended the tenure of Inter-Corporate Deposits (ICDs) with a group entity by 5 years. The company continues to operate under significant financial stress with a negative net worth of ₹11 Cr and high leverage.

Repayment of ₹500 million (₹50 Cr) in Non-Convertible Debentures during the June 2026 quarter.
Total financial indebtedness reported at ₹10,704.58 million (₹1,070.46 Cr) as of June 30, 2026.
Extension of existing Inter-Corporate Deposit (ICD) agreements with Mac Charles Hub Projects Private Limited by 5 years.
Approval of a Related Party Transaction with Embassy Services Private Limited for electricity supply up to ₹3.5 Cr.
Security cover for outstanding debt maintained, with investment property (Embassy Zenith) valued at ₹631.93 Cr in book value.

💡 Investors should closely monitor the full P&L statement for Q1 to see if operational cash flows are improving to service the ₹1,070 Cr debt. The extension of ICDs suggests a need to manage liquidity within the group structure.

Mac Charles India Approves ₹3.5 Cr Related Party Transaction and Extends ICD Tenure by 5 Years

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 13 Aug 2026, 04:48 PM

Mac Charles India held a board meeting on August 13, 2026, approving a related party transaction (RPT) with Embassy Services Private Limited for electricity supply worth up to ₹3.5 crore. The board also extended the tenure of existing Inter Corporate Deposit (ICD) agreements with Mac Charles Hub Projects Private Limited by 5 years. During the quarter ended June 2026, the company repaid ₹50 crore (500 million) of Non-Convertible Debentures (NCDs). Despite this repayment, the company remains highly leveraged with total financial indebtedness of ₹1,070.46 crore against a TTM revenue of ₹111 crore.

Approved a related party transaction for electricity wheeling worth up to ₹3.5 crore with Embassy Services.
Extended the tenure of Inter Corporate Deposits (ICDs) with Mac Charles Hub Projects by 5 years.
Repaid ₹50 crore (500 million) of Non-Convertible Debentures during the June 2026 quarter.
Reported total financial indebtedness of ₹1,070.46 crore as of June 30, 2026.
Security cover certificate lists Embassy Zenith investment property at a book value of ₹631.93 crore.

💡 Investors should monitor the full Q1 FY27 financial results for operational improvements, as the company continues to struggle with negative net worth and high debt-servicing requirements.

51% of Mac Charles India Shares Pledged by Promoter for Rs 270 Cr Debt

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 07 Aug 2026, 05:53 PM

Promoter Embassy Property Developments has pledged 66,81,537 shares, representing 51% of the company's total share capital, to secure Rs 270 Cr worth of unlisted NCDs issued by group entity Calatheas Developments. This encumbrance accounts for 69.47% of the total promoter holding (73.41%). The funds are earmarked for inter-corporate loans to develop a mall project and for general corporate purposes. This high level of pledging is significant given the company's negative net worth of -Rs 11 Cr and high debt of Rs 1508 Cr.

66,81,537 shares pledged, constituting 51% of the total share capital of the company
Pledge covers 69.47% of the total promoter holding which stands at 73.41%
Rs 270 Cr debt raised by group entity Calatheas Developments via unlisted, unrated NCDs
Asset cover ratio for the pledge is 1.72x based on a share valuation of Rs 464.20 Cr
Funds to be utilized for Embassy Maverick Malls Private Limited project and general corporate purposes

💡 Investors should monitor the financial stability of the promoter group and the borrower entity, as any default could trigger a pledge invocation and a change in control. Watch for share price volatility that could affect the 1.72x asset cover ratio.

Board Meeting on August 13, 2026, to Approve Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 07 Aug 2026, 05:05 PM

Mac Charles India Ltd has scheduled a board meeting for August 13, 2026, to approve its unaudited financial results for the quarter ended June 30, 2026. The company is currently under significant financial pressure, reporting a TTM net loss of ₹116 Cr and a negative net worth of ₹11 Cr. With a substantial debt of ₹1508 Cr, the upcoming results will be critical to assess the company's ability to service its obligations despite a high operating profit margin of 70.3%.

Board meeting scheduled for August 13, 2026, to review Q1 FY27 results
Company reported a TTM net loss of ₹116 Cr as of March 2026
Total debt stands at ₹1508 Cr, which is approximately 1.67x its market capitalization of ₹901 Cr
Net worth is currently negative at -₹11 Cr
Operating profit margin remains high at 70.3% despite bottom-line losses

💡 Monitor the financial results on August 13, 2026, specifically looking for any reduction in net losses and updates on debt restructuring or capital infusion given the negative net worth.

51% of Equity Shares Pledged to Catalyst Trusteeship as Security for Debentures

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 01 Aug 2026, 11:42 AM

Catalyst Trusteeship Ltd has disclosed an encumbrance (pledge) over 66,81,537 equity shares of Mac Charles India Ltd, representing 51% of the total share capital. The pledge was created on July 29, 2026, to secure non-convertible debentures issued by an entity named Calatheas. This is a significant development given the company's fragile financial state, characterized by a negative net worth of Rs -11 Cr and a massive debt of Rs 1508 Cr. Investors should note that a majority of the company's equity is now effectively collateralized.

66,81,537 shares (51% of total capital) placed under encumbrance as of July 29, 2026
Pledge created in favor of Catalyst Trusteeship Ltd acting as a common security trustee
Company reports a negative net worth of Rs -11 Cr and a TTM PAT loss of Rs 116 Cr
Total debt stands at Rs 1508 Cr, which is approximately 1.66x the current market capitalization of Rs 908 Cr

💡 Investors should monitor the company's debt servicing capability and any further disclosures regarding the terms of the debentures. The high level of encumbrance combined with negative net worth represents a significant risk of change in control if covenants are breached.

51% of Share Capital Pledged by Promoter to Secure ₹270 Cr Group Debt

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 01 Aug 2026, 11:01 AM

Promoter Embassy Property Developments has pledged 66,81,537 shares, representing 51% of Mac Charles India's total share capital, to secure ₹270 crore in debt. This pledge accounts for 69.47% of the promoter's total 73.41% stake in the company. The debt was raised by a group entity, Calatheas Developments, via unlisted NCDs to fund a mall project and general corporate purposes. This occurs against a backdrop of the company having a negative net worth of ₹11 crore and high existing debt of ₹1,508 crore.

Pledge created on 66,81,537 shares, constituting 51% of the company's total paid-up capital.
Debt amount involved is ₹270 crore, which is approximately 29.7% of the company's current market capitalization.
Promoter's encumbered holding has reached 69.47% of their total stake in the company.
Security cover for the transaction is 1.72x, based on a share valuation of ₹464.20 crore at the time of agreement.
Funds are earmarked for an inter-corporate loan to Embassy Maverick Malls Private Limited for project development.

💡 Investors should monitor the repayment capability of the borrowing group entity (Calatheas Developments) and the progress of the mall project, as any default could trigger a change in control or a forced sale of the 51% stake.

51% of Mac Charles India Shares Pledged by Promoter for Rs 270 Cr NCD Issue

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 01 Aug 2026, 10:57 AM

Promoter Embassy Property Developments Private Limited (EPDPL) has pledged 66,81,537 shares, representing 51% of the company's total share capital, to secure a Rs 270 Cr debt issue. The pledge was created on July 29, 2026, in favor of Catalyst Trusteeship Limited to support senior, secured, unlisted NCDs issued by Calatheas Developments Private Limited. This encumbrance accounts for 69.47% of the total promoter holding (73.41%). The funds are intended for inter-corporate loans to Embassy Maverick Malls for project development and general corporate purposes.

Promoter pledged 66,81,537 shares, equivalent to 51% of the total equity capital of the company.
The pledge secures a Rs 270 Cr NCD issue by a group entity, Calatheas Developments Private Limited.
Encumbered shares represent 69.47% of the total promoter holding of 73.41%.
The security cover is 1.72x based on a share valuation of Rs 464.20 Cr at the time of the agreement.
Funds will be utilized for project development costs at Embassy Maverick Malls Private Limited.

💡 Investors should monitor the repayment schedule of the Rs 270 Cr NCDs and the financial stability of the Embassy Group, as any default could lead to the invocation of the pledge and a potential change in control.

Mac Charles India Reports FY26 Revenue of ₹110.3 Cr in Annual Sustainability Filing

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Jul 2026, 06:27 PM

Mac Charles (India) Limited has released its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, reporting a total turnover of ₹1,103.04 million. The company's revenue is heavily concentrated, with rental income accounting for 92.2% and windmill operations contributing 7.8%. A significant improvement was noted in employee retention, with the turnover rate dropping to 6% from 147% in the previous year. The company maintains a lean operational structure with only 22 employees and reported zero stakeholder complaints for the period.

Total turnover for FY 2025-26 reached ₹1,103.04 million
Rental income constitutes the core business at 92.2% of total turnover
Employee turnover rate improved significantly to 6% from 147% in FY 2024-25
Net worth of the company stands at ₹3,608.95 million as of March 2026
The entity operates with a lean workforce of 22 total employees

💡 Investors should monitor the stability of the rental income stream, which forms the bulk of the company's revenue, and check for any future diversification beyond the current 7.8% windmill contribution.

46th AGM on Aug 13; ₹6,235 Million 'Project Zenith' Capitalized in FY26

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 14 Jul 2026, 06:19 PM

Mac Charles India has scheduled its 46th Annual General Meeting for August 13, 2026. The company successfully capitalized its commercial tower, 'Project Zenith,' involving a transfer of ₹6,235.05 million from investment property under development following the receipt of its occupancy certificate. Total non-current investments stood at ₹4,435.63 million as of March 31, 2026, primarily across real estate subsidiaries. Shareholders will also vote on the continuation of Director Mr. P.R. Ramakrishnan beyond the age of 75.

Capitalized ₹6,235.05 million for the 'Project Zenith' commercial tower upon receiving the occupancy certificate
Investment property under development (IPUD) significantly reduced to ₹297.28 million from ₹5,883.45 million year-on-year
Total non-current investments increased to ₹4,435.63 million, with major stakes in Blue Lagoon and Mac Charles Hub Projects
Seeking special resolution for Mr. P.R. Ramakrishnan to continue as Director after attaining age 75 on June 19, 2027
Zero coupon non-convertible debenture of ₹0.10 million invested in a subsidiary during the year

💡 Investors should monitor the upcoming quarterly results for rental income or sales traction from the newly capitalized 'Project Zenith' to assess its contribution to the bottom line.

Mac Charles India Ltd Schedules 46th AGM for Aug 13, 2026; Proposes Director Continuation

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Jul 2026, 06:12 PM

Mac Charles India Ltd has released its 46th Annual Report for FY 2025-26 and scheduled its Annual General Meeting (AGM) for August 13, 2026. The agenda includes the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026. A key special resolution involves approving the continuation of Mr. P.R. Ramakrishnan as a Non-Executive Director beyond the age of 75, effective June 2027. The meeting will be held virtually via video conferencing.

46th Annual General Meeting scheduled for August 13, 2026, at 11:00 A.M.
Special resolution proposed for Director Mr. P.R. Ramakrishnan, who turns 75 on June 19, 2027
Speaker registration for the AGM is open from July 31, 2026, to August 06, 2026
The facility for participation through VC/OAVM is available for at least 1,000 members
Audited financial statements for the year ended March 31, 2026, are up for adoption

💡 Investors should review the Management Discussion & Analysis (MD&A) section of the full Annual Report for insights into the company's hospitality and real estate performance during FY26.

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