MCCHRLS-B · price
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Mac Charles (India) Limited has filed auditor certificates from Walker Chandiok & Co LLP confirming compliance with SEBI regulations for its listed non-convertible debentures (NCDs) as of 31 March 2025. The company has issued all 3,200 senior, secured, redeemable, listed, rated NCDs of ₹1 million each (total ₹3,200 million). The security cover ratio stands at 7.11 times against the listed NCD obligation of approximately ₹753.45 million (₹500 million principal + ₹253.45 million accrued redemption premium), well above the required 1.00 times. Fair value of secured assets is ₹5,359 million, covering project land, investments, loans, and bank balances. The company is also in compliance with all financial covenants: Guarantor's (Embassy Property Developments Pvt Ltd) net worth is ₹23,826.30 million versus the ₹10,000 million requirement, and Loan-to-Value ratio is 15.32% versus the 66.66% cap.
This is a routine regulatory compliance filing under SEBI LODR Regulation 56(1)(d). The strong 7.11x asset cover and well-below-cap LTV (15.32% vs 66.66%) signal solid financial health and ample cushion for NCD holders, with no negative implications for shareholders.