Mahindra & Mahindra Financial Services Limited has informed the Exchange regarding 'Security Cover Certificate'.
M&MFIN · price
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Mahindra & Mahindra Financial Services has submitted a Security Cover Certificate to the exchanges for the quarter ended 30th June 2025, as required under SEBI's listing regulations for companies with listed non-convertible debentures (NCDs). The certificate, certified by M M Nissim & Co. LLP (one of the joint statutory auditors), confirms that the company's records are in order. Key figures: book debt receivables pledged as exclusive security stand at Rs 22,908.35 crore, against outstanding secured listed NCDs of Rs 21,114.46 crore, giving an Exclusive Security Cover Ratio of 1.08x. Bank borrowings total Rs 69,552.19 crore, and total assets reported across the cover statement aggregate to about Rs 1.36 lakh crore. Axis Trustee Services Limited acts as the debenture trustee. The auditor issued a limited assurance conclusion with no exceptions noted.
This is a routine quarterly compliance disclosure and does not signal any new event. The 1.08x exclusive cover ratio indicates asset coverage only marginally above the outstanding secured NCDs, suggesting adequate but limited cushion for debenture holders. No material impact on share price is expected from this filing alone.