MCMuthoot Capital Services511766Routine SEBI update

Auditor-certified security cover of 1.33x for listed debentures as on September 30, 2026

Muthoot Capital has shared its Security Cover Certificate for its listed secured non-convertible debentures as on September 30, 2026.

By ScoutQuest · Thu 5 Nov 2026, 9:02 PM IST · 2 min read

Security Cover Ratio (exclusive charge)

1.33

Security Cover Ratio (pari-passu)

1.23

Debt securities covered

1,37,300.86 (Rs. in lakh)

What the company shared

Muthoot Capital Services has submitted its Security Cover Certificate for its listed secured non-convertible debentures (NCDs) as on September 30, 2026. The certificate is issued by Sundaram & Srinivasan, Chartered Accountants, the company's statutory auditors, and signed by S. Usha, Partner.

It covers the half year ended September 30, 2026 and is meant for onward submission to the National Stock Exchange, BSE Limited and the debenture trustees, Vardhaman Trusteeship Private Limited and Catalyst Trusteeship Limited.

The numbers that matter

• Security Cover Ratio on exclusive charge basis: 1.33
• Security Cover Ratio on pari-passu charge basis: 1.23
• Debt securities to which this certificate pertains: 1,37,300.86 (Rs. in lakh)
• Minimum asset cover required: hundred percent

Assets shown in the statement include loans and book debts, investments, cash and cash equivalents, bank balances other than cash and cash equivalents, property, plant and equipment, right of use assets and intangible assets. The auditors state they obtained the list and value of assets placed under lien or encumbrance for other loans and confirmed such assets are not counted in this asset cover.

What 'security cover' means

When a company issues debentures, it sets aside a pool of assets that stands behind that borrowing. The security cover ratio compares the value of those charged assets with the debt outstanding. A ratio above 1 means the asset pool is larger than the debt it secures. Here the pool is about 1.33 times the covered debt where the charge is exclusive, and about 1.23 times where the same assets are shared with other secured lenders.

Auditor's conclusion

The auditors state that nothing has come to their attention that causes them to believe the company has not maintained hundred percent asset cover, or the asset cover required by the debenture term sheet and information memorandum. They also state that nothing has come to their attention that causes them to believe the company has not complied, in material respects, with the general and financial covenants of the respective debenture term sheets as of September 30, 2026.

How a retail investor can read this

• It is a periodic compliance disclosure about the company's debt, not an update on its lending business.
• A cover above the minimum, as certified, suggests the asset pool backing the NCDs is intact on that date.
• The certificate speaks only to the security and covenants promised to debenture holders; it is not a view on earnings, loan growth or asset quality.
• The document is limited to the position as at September 30, 2026.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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