Key Quantitative Figures

  • Outstanding NCD value: ₹37.50 crores (face value ₹1 lakh each, original issue amount ₹100 crores)
  • Accrued interest on NCDs: ₹0.07 crores as of September 30, 2026
  • Security cover ratio: 3.76 times (book value basis)
  • Debt Service Coverage Ratio (DSCR): 2.12 times
  • Total Outside Liabilities/Tangible Net Worth: 1.72 times
  • Total asset book value: ₹19,816.47 crores
  • Market value of pari-passu charge assets: ₹1,446.58 crores

Dates of Action

  • Certificate date: October 24, 2026
  • Reporting period: Quarter ended September 30, 2026
  • Debenture Trust Deed date: March 20, 2023
  • Valuation report date for market value: May 18, 2024

Parties Involved

  • Statutory Auditors: S.R. Batliboi & Co. LLP
  • Debenture Trustee: IDBI Trusteeship Services Limited
  • Signatories: Bhumika Sood (Company Secretary & Compliance Officer), Anoop Kumar Shukla (President Accounts & Consolidation), Sanjay Vij (Partner at S.R. Batliboi & Co. LLP)

Asset Coverage Details

The NCDs are secured against pledge of fixed assets related to Company's immovable and movable fixed assets (excluding mining land, mining lease, Captive Power plant and vehicles) of Grey cement plant situated at Muddapur, Karnataka.

Financial Covenant Compliance

The company is in compliance with all financial covenants as specified in the Debenture Trust Deed:

  • DSCR requirement: Minimum 1.10 times (actual: 2.12 times)
  • Total Outside Liability/Total Net Worth requirement: Maximum 4.00 times (actual: 1.72 times)
  • Security assets cover requirement: Minimum 1.20 times (actual: 3.76 times)

Other Covenant Compliance

The management confirms compliance with all non-financial covenants including:

  • No change in nature and conduct of business
  • No amendments to Memorandum and Articles having Material Adverse Effect
  • No modification to debenture structure
  • No abandonment of business or amalgamation/merger activities
  • No dividend distribution during default periods
  • No investments during event of default
  • No voluntary winding up or insolvency proceedings
  • No settlement of litigation without consent

Methodology

Security assets cover calculated as: Book value of assets having pari-passu charge divided by (Outstanding value of corresponding debt + interest accrued). All values considered as at September 30, 2026 from unaudited standalone financial results.

#JK Cement #SEBIDisclosure #RegulatoryCompliance #AssetCover #Neutral