PCBL Chemical Seeks Debenture Holder Nod to Defer Covenant Testing

PCBL Chemical Limited ( (IN:PCBL) ) has shared an update.

PCBL Chemical Limited’s Fund Raising Committee has approved amendments to its existing debenture trust deed dated January 20, 2024, specifically to defer testing of a key financial covenant linked to the ratio of consolidated gross debt to EBITDA for the 2025-2026 period. The move suggests the company is seeking greater financial flexibility in meeting covenant requirements, which may ease near-term pressure on its balance sheet and support operational or strategic initiatives funded by its non-convertible debentures.

Following the board committee’s approval, PCBL Chemical has requested that debenture trustee Catalyst Trusteeship Limited convene a meeting of holders of its ₹700 crore non-convertible debentures, identified by ISIN INE602A07020, on March 13, 2026, at shorter notice to ratify the covenant deferral. Securing debenture holder consent will be crucial for implementing the amended terms, with potential implications for investor protections and the company’s financing flexibility in the coming financial years.

More about PCBL Chemical Limited

PCBL Chemical Limited, formerly known as PCBL Limited, operates in the chemical sector and issues non-convertible debentures as part of its funding strategy. The company is active in India’s capital markets, with its securities listed on both the National Stock Exchange of India and BSE, indicating reliance on debt capital to support its business operations and growth plans.

Average Trading Volume: 272,795

Technical Sentiment Signal: Buy

Current Market Cap: 110.5B INR

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