Jindal Saw Limited — Others, 27-06-2025: Security Cover Certificate

Jindal Saw Ltd has announced a security cover certificate showing a strong coverage ratio of 10.23 times on book and market value for its secured non-convertible debentures (NCDs). This improvement from 9.03 times last quarter is driven by asset growth and a decrease in other secured debt. The certificate, issued by P A Tulsyan and Company, confirms full compliance with all financial covenants related to the NCDs. Key secured assets include property, plant and equipment valued over ₹7,54,280 lakh and investments worth ₹2,09,010 lakh, providing robust backing to the outstanding debt of ₹500 Cr (including accrued interest). This reinforces the company’s credit quality and security for debt holders.