Titan Company Limited has submitted its mandatory compliance certificate for the quarter ending December 31, 2025, to the stock exchanges. The filing confirms adherence to listing requirements concerning the utilization of proceeds from Non-Convertible Debentures (NCDs). The company certified that there were no NCD issuances during the quarter and that previously raised funds have been fully utilized for their intended purposes, resulting in no deviation or variation in fund usage.
Quarterly Disclosure of Proceeds Utilization
Titan Company Limited has formally issued a certificate to the stock exchanges regarding the utilization of proceeds from its outstanding debt instruments for the period ending 31st December 2025. This filing is mandated under the relevant disclosure regulations for listed entities.
Statement on Non-Convertible Debentures (NCDs)
The disclosure provides two main statements concerning debt instruments:
A. Statement of Utilisation of Issue Proceeds:
- It is explicitly stated that no issuance of Non-Convertible Debentures (NCDs) occurred during the quarter ended 30th September 2025 (Note: The main letter references the Q3-ended Dec 31, 2025, certificate, while the schedule references the Q2-ended Sept 30, 2025, certification period, which is noted as ‘Nil’).
- As no funds were raised, the section detailing utilization against raised funds is marked as ‘Nil’.
B. Statement of Deviation/Variation in Use of Issue Proceeds:
- The company confirms that proceeds from NCDs issued to date have been fully utilized for the purposes outlined in the respective offer documents.
- There were No deviations or variations reported regarding the use of funds.
- Consequently, no approvals were required to vary the objects of the issue, and related sections (Committee Comments, Auditor Comments) are marked as NA (Not Applicable).
Certification Details
The document was authorized and certified by Dinesh Shetty, General Counsel & Company Secretary, and Ashok Sonthalia, Chief Financial Officer, confirming compliance as of 10th February 2026.
Source: BSE
