Heritage Foods Limited | 30th Annual Report 2021-22

30 th Annual Report 2021-22 Heritage Foods Limited 162 19. Borrowings As at 31 March 2022 31 March 2021 Non-current Secured Term loans from banks [refer note 19(a)] - 223.23 Deferred payment liabilities 21.10 37.48 21.10 260.71 Current Secured Current maturities of Long term borrowings [refer note 19(a)] - 242.33 Deferred payment liabilities 16.37 15.99 Loans repayable on demand from banks [refer note 19(b)] - 4.69 16.37 263.01 (i) Reconciliation of liabilities arising from financial activities* For the year ended 31 March 2022 31 March 2021 Balance at beginning of the year 465.56 1,954.97 Proceeds from long term borrowings - 282.52 Repayments of long term borrowings (465.56) (1,771.93) Balance at end of the year - 465.56 *Includes only current and non-current portions of term loans from banks. (ii) Reconciliation of interest accrued but not due on term loans from banks For the year ended 31 March 2022 31 March 2021 Balance at beginning of the year 3.37 13.32 Interest expense for the year 18.18 143.40 Interest paid during the year 21.55 153.35 Balance at end of the year - 3.37 19 (a) Terms and conditions of term loans from banks S. No Name Outstanding balance as on* Interest rate (%) Repayment terms Type of security 31 March 2022 31 March 2021 1 HDFC Bank - 77.35 One year MCLR +0.50% per annum Repayable in24quarterly installments commenced from March 2020 and ending in December 2025. The Company has pre-paid the entire outstanding borrowing during the year ended 31 March 2022. Subservient charge on movable fixed assets of the Company. 2 HDFC Bank - 107.94 One year MCLR +0.50% per annum Repayable in 24 quarterly installments commenced from December 2020 and ending in September 2026. The Company has pre-paid the entire outstanding borrowing during the year ended 31 March 2022. - First pari passu charge on entire fixed assets of the Company. - Second pari passu charge on current assets of the Company. 3 Kotak Mahindra Bank - 50.89 One year MCLR + spread per annum Repayable in 16 quarterly installments commenced from September 2020 and ending in June 2024. The Company has pre-paid the entire outstanding borrowing during the year ended 31 March 2022. - Exclusive charge on assets financed by the loan taken. 4 Kotak Mahindra Bank - 229.38 One year MCLR + spread per annum Repayable in24quarterly installments commenced from November 2020 and ending in August 2026. The Company has pre-paid the entire outstanding borrowing during the year ended 31 March 2022. - Exclusive charge on assets financed by the loan taken. - 465.56 * Including current maturities of term loans from banks. Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated)