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THDC India Limited — Bonds & AA (CARE) Rating

PSU · Power & Energy

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
AA (CARE)
Most common current rating on senior bonds
9 of 10 rated · CARE, 31 Jul 2025
Total Debt Outstanding
₹9,863 Cr
Across 12 instruments
Active Bonds
12
First Issue
3 Oct 2016
Latest Issue
22 Jul 2025
Maturity Range
2029 - 2035
Observation
12 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
Issuer health card 2 items to look at
  • Current ratings CARE AA, India Ratings AA, ICRA AA
  • Rating range Current ratings range from AA- (India Ratings 31 Jan 2024) to AA (CARE 31 Jul 2025, ICRA 31 Jan 2021, India Ratings 30 Sep 2023)
  • Rating direction, 12 months No rating actions on file
  • Watch / negative outlook None in 12 months
  • 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  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months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 31 Jul 2025
  • Payment record 9 payment disclosures since 17 Jul 2026: all on time
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 3 of 12 active bonds had an exchange trade
  • Exchange filings, 90 days 0 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names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility.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.

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01 Issuer Overview
Sector
Power & Energy
Issuer Type
PSU
First Tracked Bond
3 Oct 2016
Start of this issuer's debt program timeline
  • 12 active bonds tracked from this issuer.
  • 5 of 12 tracked bonds with a stated security status are secured. (based on 12 bonds with a disclosed security status)

Operating in the Power & Energy sector, THDC India Limited is classified as a public sector undertaking (PSU). Bond coupons here span 7.19% - 8.75%, paid annually. The maturity ladder spans 2029 - 2035.

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
12
Tracked by RetailBonds
Amount Tracked
₹9,863 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt
Avg Coupon
7.72%
Range 7.19% - 8.75%
Avg Remaining Tenure
6.2 Yrs
Nearest maturity Sep 2029
Secured
41%
5 of 12 bonds with known status
Callable
0
Of 12 bonds
Avg Spread vs G-Sec
+103 bps
Credit premium, from 3 bonds with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (3 bonds).

0 2029: 1 bond, ₹1,500 Cr tracked, avg coupon 8.75% 1 bond 2029 2030: 1 bond, ₹800 Cr tracked, avg coupon 7.19% 1 bond 2030 2031: 2 bonds, ₹1,950 Cr tracked, avg coupon 7.42% 2 bonds 2031 2032: 2 bonds, ₹1,400 Cr tracked, avg coupon 7.74% 2 bonds 2032 2033: 1 bond, ₹763 Cr tracked, avg coupon 7.76% 1 bond 2033 2034: 3 bonds, ₹2,150 Cr tracked, avg coupon 7.80% 3 bonds 2034 2035: 2 bonds, ₹1,300 Cr tracked, avg coupon 7.59% 2 bonds 2035

Security Type / Instrument Mix

  • NCD 12 bonds · 100% · ₹9,863 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2019: ₹1,500 Cr issued 2019 2020: ₹800 Cr issued 2020 2021: ₹1,950 Cr issued 2021 2022: ₹1,400 Cr issued 2022 2023: ₹763 Cr issued 2023 2024: ₹2,150 Cr issued 2024 2025: ₹1,300 Cr issued 2025 Cumulative: ₹1,500 Cr Cumulative: ₹2,300 Cr Cumulative: ₹4,250 Cr Cumulative: ₹5,650 Cr Cumulative: ₹6,413 Cr Cumulative: ₹8,563 Cr Cumulative: ₹9,863 Cr

Based on 12 of 12 active bonds with a known issue date and issue size.

03 Credit Profile
  • AA 12 bonds · 100%
AgencyRatingOutlookBonds
CARE AA — 5
ICRA AA Stable 2
India Ratings AA Stable 2
India Ratings AA- Stable 1
CARE AA NSDL record — 2

Recent Rating Actions

No rating action history available.

04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE812V07021 THDC India 8.75% Sep 2029 NCD 8.75% AA (ICRA) 2029-09-06 — —
INE812V07039 THDC India 7.19% Jul 2030 NCD 7.19% AA (CARE) 2030-07-24 — —
INE812V07047 THDC India 7.45% Jan 2031 NCD 7.45% AA (ICRA) 2031-01-20 — —
INE812V07054 THDC India 7.39% Aug 2031 NCD 7.39% AA (India Ratings) 2031-08-25 8.35% 2026-11-05
INE812V07062 THDC India 7.60% Sep 2032 NCD 7.60% AA (CARE, NSDL record 2022) 2032-09-14 — —
INE812V08011 THDC India 7.88% Dec 2032 NCD 7.88% AA (CARE, NSDL record 2022) 2032-12-27 — —
INE812V08029 THDC India 7.76% Sep 2033 NCD 7.76% AA (India Ratings) 2033-09-13 — —
INE812V08037 THDC India 7.93% Jan 2034 NCD 7.93% AA- (India Ratings) 2034-01-16 — —
INE812V08045 THDC India 7.76% May 2034 NCD 7.76% AA (CARE) 2034-05-29 8.25% 2026-10-12
INE812V08052 THDC India 7.72% Sep 2034 NCD 7.72% AA (CARE) 2034-09-03 — —
INE812V08060 THDC India 7.73% Feb 2035 NCD 7.73% AA (CARE) 2035-02-18 8.35% 2026-11-05
INE812V08078 THDC India 7.45% Jul 2035 NCD 7.45% AA (CARE) 2035-07-22 — —
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)
—
Number of Trades (Last 30 Days)
3
Avg. Yield (Last 30 Days)
8.3%
06 Payment Disclosures (SEBI Reg52(4)) 7 disclosed

Interest and redemption payments as broadcast by NSE under SEBI LODR Reg 52(4)/60, across all outstanding bonds from this issuer -- actual disclosed events, not a projected schedule.

Due DateBondTypeAmount DueAmount PaidStatusFiling
14 Sep 2026 THDCIL-7.76%-13-9-33-PVT Interest ₹59,21,00,000.00 ₹59,21,00,000.00 Paid XBRL →
14 Sep 2026 7.60% SECURED RATED LISTED... Interest ₹60,80,00,000.00 ₹60,80,00,000.00 Paid XBRL →
7 Sep 2026 THDCL-8.75%-6-9-29-PVT Interest ₹1,31,25,00,000.00 ₹1,31,25,00,000.00 Paid XBRL →
3 Sep 2026 TIL-7.72%-3-9-34-PVT Interest ₹46,32,00,000.00 ₹46,32,00,000.00 Paid XBRL →
25 Aug 2026 THDC-7.39%-25-8-31-PVT Interest ₹88,68,00,000.00 ₹88,68,00,000.00 Paid XBRL →
24 Jul 2026 THDCIL-7.19%-24-7-30-PVT Interest ₹57,52,00,000.00 ₹57,52,00,000.00 Paid XBRL →
22 Jul 2026 TIL-7.45%-22-7-35-PVT Interest ₹44,70,00,000.00 ₹44,70,00,000.00 Paid XBRL →

Source: NSE Debt Centralised Database, per SEBI LODR Reg 52(4)/60. Coverage begins 2 Aug 2026 — history accumulates as disclosures are broadcast.

07 Regulatory Filings

No regulatory filings captured yet for this issuer.

08 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 12 2025-07-31
Rating Actions History 0 —
Secondary-Market Trades 3 2026-11-05
Reg52(4) Payment Disclosures 7 2026-09-14

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

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Frequently Asked Questions
How many active bonds does THDC India Limited have?

THDC India Limited currently has 12 active bonds with coupons of 7.19% - 8.75%, maturities spanning 2029 - 2035.

What is THDC India Limited's credit rating?

The most common current rating on THDC India Limited's senior bonds is AA (CARE). Ratings on file come from CARE, ICRA, India Ratings.

Are THDC India Limited's bonds secured?

Of the 12 bonds with a disclosed security status, 5 are secured (41%) and 7 are unsecured.

When do THDC India Limited's bonds mature?

THDC India Limited's active bonds mature between 2029 - 2035; the nearest matures in Sep 2029; the average tenure is 6.2 Yrs.

What is the average coupon on THDC India Limited's bonds?

The average coupon across THDC India Limited's 12 active bonds is 7.72%.

Disclaimer: This page aggregates publicly available data about THDC India 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.