Xpro India gives up to ₹215 crore guarantee for subsidiary facility
- Agreement
- Packaging
Reviewed byKeshav SehgalBlacklitt Research
Xpro India (NSE: XPROINDIA) has approved a corporate guarantee of up to AED 83 million, approximately ₹215 crore, in favour of Emirates Development Bank for the repayment of principal and interest on a term facility of its subsidiary Xpro Dielectric Films FZ-LLC, it said in a filing on 3 Nov 2026.
Key highlights
- Guarantee amount: up to AED 83 million, approximately ₹215 crore
- Term facility covered: AED 63 million
- Earlier EUR 23.72 million guarantee to AKA to be cancelled
- Board approval date: 3 Nov 2026
- Standalone profit for the quarter ended 30 Sep 2026: ₹9.52 crore
The guarantee in numbers
| Item | Detail |
|---|---|
| Guarantor | Xpro India Limited |
| Beneficiary | Emirates Development Bank P.J.S.C. (EDB) |
| Party secured | Xpro Dielectric Films FZ-LLC (XDF), a subsidiary |
| Guarantee amount | Up to AED 83 million (approximately ₹215 crore) |
| Term facility covered | AED 63 million |
| Earlier guarantee to be cancelled | EUR 23.72 million, given to AKA Ausfuhrkredit-Gesellschaft mbH |
| Consolidation | The financials of XDF are consolidated with the Company |
| Stated impact on the Company | No effective impact, according to the filing |
A guarantee for a subsidiary's term facility
The Board approved issuance of a corporate guarantee of up to AED 83 million, approximately ₹215 crore, in favour of Emirates Development Bank P.J.S.C. The guarantee secures repayment by Xpro Dielectric Films FZ-LLC (XDF), a subsidiary of the Company, of principal and interest on an AED 63 million term facility.
The term facility is proposed for refinancing and repayment of XDF's existing Euro-denominated facility availed from AKA Ausfuhrkredit-Gesellschaft mbH (AKA), and an AED 20 million cash credit facility. The EUR 23.72 million guarantee given earlier to AKA would stand cancelled subsequently, upon completion of necessary documentation and formalities.
Results and board items approved on the same day
The Board approved the un-audited standalone and consolidated financial results for the quarter and half year ended 30 Sep 2026. Standalone profit for the quarter was ₹9.52 crore, against ₹5.86 crore for the quarter ended 30 Sep 2025, and standalone revenue from operations was ₹176.69 crore.
The Board approved the appointment of BSRS & Co LLP as Statutory Auditors for five consecutive years, from the conclusion of the 30th Annual General Meeting in FY 2027-28 to the conclusion of the 35th in FY 2032-33, subject to shareholder approval.
K Balakrishnan's re-appointment as a Non-Executive Independent Director for a second term of five consecutive years, from 25 May 2027 to 24 May 2032, was also approved. Girish Behal's appointment as Managing Director & Chief Executive Officer takes effect 1 Jan 2027.
What the guarantee means for Xpro India's shareholders
The filing says there will be no effective impact on the Company, as XDF's financials are consolidated with the Company's. The filing does not say what fee, if any, applies to the guarantee, what interest rate or repayment schedule applies to the term facility, or when the AKA guarantee will be cancelled.
The next dated step is the Managing Director's appointment, effective 1 Jan 2027. The auditor appointment goes to shareholders for approval at a later date.
Filed with NSE on . Reference: Original filing (PDF)
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