Heritage Foods Limited

Heritage Foods Limited 202 Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated) (x) A Prabhakara Naidu Short-term employee bene fi ts 6.24 5.66 Post-employment bene fi ts 0.32 0.31 Other long-term bene fi ts 0.43 0.31 (xi) Umakanta Barik Short-term employee bene fi ts 3.10 2.81 Post-employment bene fi ts 0.16 0.15 (c) Balances receivable/(payable) As at 31 March 2021 As at 31 March 2020 (i) Heritage Nutrivet Limited Trade payable (9.94) (4.61) Other receivables - 0.05 (ii) Heritage Finlease Limited Loan proceeds payable (8.14) (29.77) Other receivables 0.23 0.17 (iii) Heritage Novandie Foods Private Limited Other receivables 0.36 0.18 Other payables (0.45) (0.45) (iv) Heritage Farmers Welfare Trust Other receivables 0.01 0.01 (v) N Bhuvaneswari Short-term employee bene fi ts payable (92.80) (20.36) (vi) N Brahmani Short-term employee bene fi ts payable (78.89) (22.20) (vii) M Sambasiva Rao Short-term employee bene fi ts payable (21.73) (9.22) Notes: (a) The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. For the year ended 31 March 2021, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (31 March 2020: Nil). This assessment is undertaken each fi nancial year through examining the fi nancial position of the related parties and the market in which such parties operates. (b) As at 31 March 2021 and 31 March 2020, the Company has outstanding guarantees given to bankers towards loans availed by its wholly owned subsidiary i.e. Heritage Nutrivet Limited and its joint venture i.e. Heritage Novandie Foods Private Limited. Amount outstanding to bankers by Heritage Nutrivet Limited and Heritage Novandie Foods Private Limited as at 31 March 2021 is ₹ 265.15 (31 March 2020: ₹ 261.38). (c) Post-employment and other long-term bene fi ts, disclosed above, does not include those bene fi ts which are computed for the Company as a whole.