EBITDA / Net Interest (Interest Cover) refers to interest coverage ratio calculated as EBITDA divided by net interest expense. It indicates how comfortably operating earnings can cover finance cost. In MSME underwriting, it is read as part of the financial assessment and is usually compared across periods, peers, banking conduct and management explanations. For example, a rising margin can show pricing power, while a sudden fall may point to cost pressure, discounting or weak operating control. It matters because the number can influence eligibility, limit sizing, repayment comfort, leverage view and early-warning assessment. The common mistake is to use it mechanically; seasonality, accounting treatment, one-off items and data mismatches can change the credit interpretation.