Heritage Foods Limited

Heritage Foods Limited 192 Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated) Particulars For the year ended 31 March 2021 31 March 2020 Closing balance - Finished goods 648.64 649.30 - Semi fi nished goods 398.41 95.56 - Work-in-progress 5.41 5.08 - Stock-in-trade 28.36 16.59 1,080.82 766.53 (314.29) (131.98) 29 Employee bene fi t expenses Particulars For the year ended 31 March 2021 31 March 2020 Salaries and wages 1,509.32 1,306.09 Contribution to provident and other funds (refer note a below) 68.10 67.80 Gratuity expense (refer note 21(a)(iv)) 14.23 11.62 Compensated absences expense 71.27 74.43 Sta ff welfare expenses 40.96 35.74 1,703.88 1,495.68 (a) The amount recognized as an expense towards contribution to provident fund and employee state insurance schemes for the year ended 31 March 2021 amounts to ₹ 68.10 (31 March 2020: ₹ 67.80). 30 Finance costs Particulars For the year ended 31 March 2021 31 March 2020 Interest on borrowings calculated using e ff ective interest method 162.60 197.14 Interest on income tax 2.87 0.26 Interest on lease liabilities (refer note 44) 5.86 3.14 Other borrowing costs 7.15 7.53 178.48 208.07 31 Other expenses Particulars For the year ended 31 March 2021 31 March 2020 Consumption of stores, spares and consumables 199.87 225.40 Power and fuel 331.97 348.70 Rent 19.98 30.70 Repairs and maintenance - Buildings 6.01 10.70 - Plant and equipment 25.92 30.91 - Others 55.77 57.80 Insurance 20.59 15.36