Heritage Foods Limited | 30th Annual Report 2021-22

Financial Statements Company Overview Statutory Reports 163 19(b) Terms and conditions of loans repayable on demand from banks S. No Name Outstanding balance as on Interest rate (%) Repayment terms Type of security 31 March 2022 31 March 2021 1 ICICI Bank - 4.69 Six months IMCLR + spread per annum Repayable on demand First pari passu charge on current assets and second pari passu charge on fixed assets of the Company, excluding project specific assets. 2 Bank of Baroda - - One year MCLR + 0.4% per annum Repayable on demand First pari passu charge on current assets and second pari passu charge on fixed assets of the Company, excluding project specific assets. 3 Union Bank of India - - One year MCLR + 0.85% per annum Repayable on demand First pari passu charge on current assets and second pari passu charge on fixed assets of the Company, excluding project specific assets. - 4.69 20. Other financial liabilities As at 31 March 2022 31 March 2021 Non-current Financial guarantee 8.83 11.57 8.83 11.57 Current Current maturities of financial guarantee 3.62 3.62 Interest accrued but not due on borrowings - 3.37 Freight payable 129.21 116.72 Capital creditors 93.18 183.85 Employee related payables 220.16 335.82 Security deposits 328.89 309.88 Unpaid dividend 15.45 14.17 Other payables 227.34 203.33 1,017.85 1,170.76 21. Provisions As at 31 March 2022 31 March 2021 Non-current Compensated absences 163.75 100.52 163.75 100.52 Current Gratuity - 2.06 Compensated absences 79.91 122.71 79.91 124.77 (a) Gratuity The Company provides its employees with benefits under a defined benefit plan, referred to as the “Gratuity Plan”. The Gratuity Plan entitles an employee, who has rendered at least five years of continuous service, to receive 15 days salary for each year of completed service (service of six months and above is rounded off as one year) at the time of retirement/exit in accordance with the Payment of Gratuity Act, 1972. Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Standalone