Jindal Stainless Limited has informed the Exchange regarding 'Intimation under Regulation 54 of SEBI (Listing Obligations and DisclosuresRequirements) Regulations, 2015 - Security Cover Certificate for quarter ended31st March, 2025'.
JSL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jindal Stainless has submitted a Security Cover Certificate for its listed Non-Convertible Debentures (NCDs) as of 31st March 2025, filed under SEBI's Regulation 54. The company has two NCD series outstanding — ISIN INE220G07119 with Rs 187.50 crore and ISIN INE220G07127 with Rs 99 crore — taking total NCD principal to Rs 286.50 crore plus Rs 5.77 crore in accrued interest. Joint statutory auditor Lodha & Co LLP has certified that the book value of assets has been accurately extracted and that the company is in compliance with all financial covenants under the Debenture Trust Deeds with Catalyst Trusteeship Limited. The Exclusive Charge Security Cover Ratio stands at 2.99x on book value, with total assets covered valued at approximately Rs 33,009.67 crore.
A 2.99x security cover ratio offers strong cushion to debenture holders and reflects healthy asset coverage of debt obligations. For equity shareholders, this is a routine SEBI compliance filing with no direct bearing on stock price, though it underscores the company's debt-servicing ability and transparent disclosure practices.