Jindal Stainless Limited has informed the Exchange about security cover certificate for quarter ended 31st March 2026
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Jindal Stainless Limited has submitted its quarterly Security Cover Certificate for Non-Convertible Debentures (NCDs) as at 31st March 2026, as required under SEBI regulations. The certificate is issued by Lodha & Co LLP, the company's Joint Statutory Auditors. Total outstanding NCDs stand at Rs. 99 crores (ISIN: INE220G07127) with accrued interest of Rs. 4.34 crores. The security cover ratio for exclusive charge on assets is 4.02 times, while the pari-passu security cover ratio is 4.26 times, indicating adequate asset coverage for debenture holders. The company has confirmed full compliance with financial covenants under the Debenture Trust Deed with Catalyst Trusteeship Limited, the debenture trustee. Total assets covered amount to Rs. 34,967.19 crores against total liabilities of Rs. 15,699.08 crores.
This is a routine regulatory filing confirming the company maintains sufficient asset cover for its debenture holders. The healthy cover ratio of over 4x indicates strong security for NCD investors, which is positive for credit risk perception. No immediate impact on equity shareholders expected.