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Mahanagar Telephone Nigam Limited — Bonds & AAA (India Ratings) Rating

PSU · IT & Technology

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
AAA (India Ratings)
Most common current rating on senior bonds
6 of 6 rated · India Ratings, 30 Nov 2023
Total Debt Outstanding
₹24,071 Cr
Across 11 instruments
Active Bonds
11
First Issue
12 Oct 2020
Latest Issue
6 Mar 2024
Maturity Range
2030 - 2034
Observation
11 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies

Latest events

Last 90 days · company disclosures to the exchanges and agency announcements. Not our assessment.
  • 9 Oct 2026 Default disclosure Quarterly Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount on loans from banks / financial…
  • 14 Sep 2026 Default disclosure Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for loans including revolving facilities l…
  • 9 Sep 2026 Record date The company has fixed Regulation 60(2) Record Date Interest Payment / Redemption / Dividend for the purpose of…
  • 25 Aug 2026 Placed on rating watch CRISIL
Issuer health card 2 items to look at
  • Current ratings India Ratings AAA, CARE AAA, Brickwork AAA
  • Rating range All current ratings are AAA (Brickwork 31 Oct 2020, CARE 31 Aug 2023, CRISIL 31 Dec 2020, India Ratings 30 Nov 2023)
  • Rating direction, 12 months 0 upgrades, 0 downgrades
  • Watch / negative outlook 1 watch placement
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating No agency rating on file newer than 30 Nov 2023
  • Payment record No payment disclosures since 17 Jul 2026
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 5 of 11 active bonds had an exchange trade
  • Exchange filings, 90 days 40 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about Mahanagar Telephone Nigam Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
IT & Technology
Issuer Type
PSU
First Tracked Bond
12 Oct 2020
Start of this issuer's debt program timeline
  • 11 active bonds tracked from this issuer.
  • 0 of 11 tracked bonds with a stated security status are secured. (based on 11 bonds with a disclosed security status)
  • Most recent rating action: watch by CRISIL on 25 Aug 2026.

Operating in the IT & Technology sector, Mahanagar Telephone Nigam Limited is classified as a public sector undertaking (PSU). Bond coupons here span 6.85% - 8.00%, paid semi-annually. The maturity ladder spans 2030 - 2034.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
11
Tracked by RetailBonds
Amount Tracked
₹24,071 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt
Avg Coupon
7.60%
Range 6.85% - 8.00%
Avg Remaining Tenure
6.1 Yrs
Nearest maturity Oct 2030
Secured
0%
0 of 11 bonds with known status
Callable
0
Of 11 bonds
Avg Spread vs G-Sec
+86 bps
Credit premium, from 5 bonds with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (6 bonds).

0 2030: 2 bonds, ₹6,500 Cr tracked, avg coupon 6.95% 2 bonds 2030 2032: 2 bonds, ₹8,868 Cr tracked, avg coupon 7.94% 2 bonds 2032 2033: 6 bonds, ₹8,148 Cr tracked, avg coupon 7.72% 6 bonds 2033 2034: 1 bond, ₹556 Cr tracked, avg coupon 7.51% 1 bond 2034

Security Type / Instrument Mix

  • NCD 11 bonds · 100% · ₹24,071 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2020: ₹6,500 Cr issued 2020 2022: ₹8,868 Cr issued 2022 2023: ₹8,148 Cr issued 2023 2024: ₹556 Cr issued 2024 Cumulative: ₹6,500 Cr Cumulative: ₹15,368 Cr Cumulative: ₹23,515 Cr Cumulative: ₹24,071 Cr

Based on 11 of 11 active bonds with a known issue date and issue size.

Financial Snapshot

Q1 FY27
Debt / Equity
-0.01
 
Debt Service Coverage (DSCR)
0.00
 
Interest Service Coverage (ISCR)
0.00
 
Total Financial Indebtedness
₹37,223.00 Cr
 
Unlisted Debt Securities Outstanding
₹0.00 Cr
 
Defaults on Unlisted Debt Securities
₹0.00 Cr
 
Revenue from Operations
₹216.89 Cr
 
Net Profit / Loss
₹-842.35 Cr
 
Profit Before Tax
₹-842.66 Cr
 

As filed under SEBI LODR Reg 52(4) / Integrated Filing, filed 12 Aug 2026. Figures are reported facts, not a rating or recommendation.

03 Credit Profile
  • AAA 11 bonds · 100%
AgencyRatingOutlookBonds
India Ratings AAA — 2
Brickwork AAA — 1
CARE AAA — 1
CRISIL AAA — 1
India Ratings AAA Stable 1
India Ratings AAA NSDL record — 3
CARE AAA NSDL record — 2

Recent Rating Actions

—
Watch · Watch Negative
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE153A08089 Mahanagar Telephone Nigam 7.05% Oct 2030 NCD 7.05% AAA (Brickwork) 2030-10-11 8.45% 2026-11-04
INE153A08097 Mahanagar Telephone Nigam 6.85% Dec 2030 NCD 6.85% AAA (CRISIL) 2030-12-20 7.09% 2026-10-27
INE153A08105 Mahanagar Telephone Nigam 8.00% Nov 2032 NCD 8.00% AAA (India Ratings) 2032-11-15 8.32% 2026-11-04
INE153A08113 Mahanagar Telephone Nigam 7.87% Dec 2032 NCD 7.87% AAA (CARE, NSDL record 2022) 2032-12-01 8.32% 2026-11-06
INE153A08121 Mahanagar Telephone Nigam 7.78% Feb 2033 NCD 7.78% AAA (India Ratings, NSDL record 2022) 2033-02-10 — —
INE153A08139 Mahanagar Telephone Nigam 7.80% Feb 2033 NCD 7.80% AAA (CARE, NSDL record 2022) 2033-02-24 — —
INE153A08147 Mahanagar Telephone Nigam 7.75% Mar 2033 NCD 7.75% AAA (India Ratings, NSDL record 2022) 2033-03-24 — —
INE153A08154 Mahanagar Telephone Nigam 7.59% Jul 2033 NCD 7.59% AAA (India Ratings) 2033-07-20 — —
INE153A08162 Mahanagar Telephone Nigam 7.61% Aug 2033 NCD 7.61% AAA (CARE) 2033-08-24 — 2026-06-25
INE153A08170 Mahanagar Telephone Nigam 7.80% Nov 2033 NCD 7.80% AAA (India Ratings) 2033-11-07 8.36% 2026-11-04
INE153A08188 Mahanagar Telephone Nigam 7.51% Mar 2034 NCD 7.51% AAA (India Ratings, NSDL record 2024) 2034-03-06 — —
Compare (/) Compare Bonds

YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

BSE Traded Value (Last 30 Days)
₹2.6 Cr
Number of Trades (Last 30 Days)
22
Avg. Yield (Last 30 Days)
8.28%
06 Regulatory Filings
BSE Corporate Announcements
LETTER ATTACHED 4 Nov 2026
The Exchange has sought clarification from Mahanagar Telephone Nigam Ltd on November 4, 2026, with reference to Movement in Volume.<BR><BR>The reply is awaited. 4 Nov 2026
LETTER ATTACHED 2 Nov 2026
LETTER ATTACHED 23 Oct 2026
The Exchange has sought clarification from Mahanagar Telephone Nigam Ltd on October 23, 2026, with reference to Movement in Volume. <BR><BR>The reply is awaited. 23 Oct 2026
LETTER ATTACHED 21 Oct 2026
LETTER ATTACHED 15 Oct 2026
LETTER ATTACHED 14 Oct 2026
LETTER ATTACHED 12 Oct 2026
NSE Corporate Announcements
General Updates 17 Jul 2026
General Updates 13 Jul 2026
General Updates 10 Jul 2026
General Updates 1 Jul 2026
General Updates 19 Jun 2026
General Updates 16 Jun 2026
General Updates 11 Jun 2026
Trading Window 11 Jun 2026
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 11 2024-02-27
Rating Actions History 1 2026-08-25
Secondary-Market Trades 74 2026-11-06
Reg52(4) Payment Disclosures 0 —

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Mahanagar Telephone Nigam Limited have?

Mahanagar Telephone Nigam Limited currently has 11 active bonds with coupons of 6.85% - 8.00%, maturities spanning 2030 - 2034.

What is Mahanagar Telephone Nigam Limited's credit rating?

The most common current rating on Mahanagar Telephone Nigam Limited's senior bonds is AAA (India Ratings). Ratings on file come from Brickwork, CARE, CRISIL, India Ratings.

Are Mahanagar Telephone Nigam Limited's bonds secured?

Of the 11 bonds with a disclosed security status, 0 are secured (0%) and 11 are unsecured.

When do Mahanagar Telephone Nigam Limited's bonds mature?

Mahanagar Telephone Nigam Limited's active bonds mature between 2030 - 2034; the nearest matures in Oct 2030; the average tenure is 6.1 Yrs.

What is the average coupon on Mahanagar Telephone Nigam Limited's bonds?

The average coupon across Mahanagar Telephone Nigam Limited's 11 active bonds is 7.60%.

Disclaimer: This page aggregates publicly available data about Mahanagar Telephone Nigam Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.