Jindal Stainless has released its Security Cover Certificate for the quarter ended September 30, 2025. The certificate, provided by Lodha & Co LLP, Chartered Accountants, confirms the asset coverage for the company’s Non-Convertible Debentures (NCDs). The company affirmed that the book value of assets provides adequate cover as stipulated in its Debenture Trust Deed, complying with financial covenants.
Security Cover Certificate Overview
Jindal Stainless announced the issuance of a Security Cover Certificate relating to its Non-Convertible Debentures (NCDs) for the quarter ending September 30, 2025. This certificate, prepared by Lodha & Co LLP, Joint Statutory Auditors, confirms the company’s adherence to security cover requirements as outlined in relevant regulations and the Debenture Trust Deed.
Asset and Liability Summary
As of September 30, 2025, the company’s assets and liabilities related to the security cover are summarized as follows:
Assets:
- Property, Plant, and Equipment: ₹8,180.40 crores
- Capital Work-in-Progress: ₹2,211.87 crores
- Right of Use Assets: ₹374.85 crores
- Intangible Assets: ₹89.95 crores
- Intangible Assets under Development: ₹596.68 crores
- Other Assets: Significant investments, loans, inventories, trade receivables, and cash equivalents contribute to total asset value.
Liabilities:
- Debt Securities (including accrued interest): ₹99.08 crores
- Other Debt (sharing pari-passu charge): ₹3,911.43 crores
Security Cover Ratios
The company reports the following security cover ratios:
- Cover on Book Value: 3.74
Confirmation of Compliance
The certificate confirms that the book value of the company’s assets has been accurately extracted from the unaudited books and the company has complied with the financial covenants as stipulated in the Debenture Trust Deed for the period ended September 30, 2025.
Source: BSE
