Certificate on commercial paper proceeds: Rs. 13,750 crore CPs issued this financial year up to Sep 30, 2026
Titan shared a quarterly certificate on its Commercial Paper (CP) borrowings for the quarter ended Sep 30, 2026.
By ScoutQuest · · 2 min read
- Total CP issuance FY to Sep 30, 2026
- Rs. 13,750 crore
- End use of CP proceeds
- Working Capital
- Bank/FI fund-based facility classification
- Standard
What was shared
Titan Company has sent the stock exchanges its quarterly certificate on Commercial Paper (CP) — a short-term borrowing that a company repays within a year. The certificate covers the quarter ended Sep 30, 2026 and confirms that the money raised through CPs was used for the purposes stated, and that the other listing conditions were adhered to.
What the company certified
- The CP proceeds were utilised for the purposes mentioned in the annexure.
- The conditions of the offer document and the CP issuance directions were adhered to.
- The asset classification of its fund-based facilities from banks and financial institutions continues to be Standard, which means lenders are not treating these facilities as stressed.
- There has been no material change in the company's financial status which may adversely affect the credit rating of the Commercial Paper.
Amount and end use
- Total CP issuance during the financial year up to the quarter ended 30th Sep 2026 was Rs. 13,750 crore, which matches the total shown at the bottom of the annexure.
- Every issue listed in the annexure is marked for Working Capital.
- The largest issue listed carries a face value of 1,600 (INR crore), issued on 07-Aug-2026 with maturity 05-Nov-2026, made up of 32,000 units.
- The smallest issue listed carries a face value of 400 (INR crore), issued on 27-May-2026 with maturity 22-Jun-2026, made up of 8,000 units.
- Maturity dates in the annexure run from 08-Jun-2026 to 10-Dec-2026.
How to read this
Commercial Paper is money borrowed for the short term, typically to fund day-to-day operations, and it is repaid on the maturity date. A certificate like this is a periodic confirmation to the exchanges that the borrowing was used as stated and that the company's loan accounts remain in good standing with lenders. The end-use stated for all the listed issues is working capital, which is the usual use for such borrowings in a retail-led business.
The flags to note are the "Standard" asset classification of bank facilities and the statement that there has been no material change in financial status that may hurt the CP credit rating. Both point to stability in the company's short-term borrowing profile. The Rs. 13,750 crore figure is the cumulative issuance for the financial year to date, not a single borrowing, and CPs are typically rolled over or repaid as they mature.
Also from Titan Company
Titan fully redeems commercial paper of ₹ 1600 crore on maturity
5 Nov 2026
Titan Q2 FY27: consolidated total income up 13.8% to ₹21,430 crores, PAT up 114%
5 Nov 2026
Q2 results, Noel Tata's retirement, ₹2,500 crore NCDs and a new statutory auditor proposed
5 Nov 2026
More numbers
- Total CP issuance in FY up to quarter ended 30 Sep 2026Rs. 13,750 crore
- Annexure-1 aggregate (FV in INR Cr)13,750
- Face value of largest CP issue listed (INR crore)1,600
- Units in largest CP issue listed32,000
- Face value of smallest CP issue listed (INR crore)400
- Units in smallest CP issue listed8,000
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