Jindal Stainless Limited has informed the Exchange about Security cover
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Jindal Stainless Limited has submitted its quarterly Security Cover Certificate to the stock exchanges for the period ending 30th June 2025, as required under SEBI Regulation 54. The certificate, issued by joint statutory auditor Lodha & Co LLP, covers Rs. 99 Crores of listed, rated, redeemable Non-Convertible Debentures (ISIN: INE220G07127) with Rs. 6.46 Crores in accrued interest. The statement details assets pledged under exclusive and pari-passu charges, with total liabilities of Rs. 33,217 Crores. The auditor confirmed that the book values were accurately extracted from unaudited books and that the company has complied with the financial covenants in the Debenture Trust Deed. The security cover ratio on book value stands at 3.69 times.
This is a routine quarterly compliance filing with no material negative implications for shareholders. The healthy 3.69x security cover ratio indicates that debenture holders are well-protected, reinforcing the company's credit profile.