Heritage Foods Limited | 30th Annual Report 2021-22

30 th Annual Report 2021-22 Heritage Foods Limited 168 For the year ended 31 March 2022 31 March 2021 Closing balance - Finished goods 625.79 648.64 - Semi finished goods 348.32 398.41 - Work-in-progress 14.45 5.41 - Stock-in-trade 38.70 28.36 1,027.26 1,080.82 53.56 (314.29) 29, Employee benefit expenses For the year ended 31 March 2022 31 March 2021 Salaries and wages 1,554.89 1,509.32 Contribution to provident and other funds 83.12 68.10 Gratuity expense (refer note 21(a)(iv)) 15.94 14.23 Compensated absences expense 66.86 71.27 Staff welfare expenses 47.32 40.96 1,768.13 1,703.88 (a) The amount recognized as an expense towards contribution to provident fund and employee state insurance schemes for the year ended 31 March 2022 amounts to ` 83.12 (31 March 2021: ` 68.10). 30 Finance costs For the year ended 31 March 2022 31 March 2021 Interest on borrowings calculated using effective interest method 20.44 162.60 Interest on income tax - 2.87 Interest on lease liabilities 6.77 5.86 Other borrowing costs 4.80 7.15 32.01 178.48 31 Other expenses For the year ended 31 March 2022 31 March 2021 Consumption of stores, spares and consumables 226.31 199.87 Power and fuel 348.77 331.97 Rent 37.14 19.98 Repairs and maintenance - Buildings 8.04 6.01 - Plant and equipment 19.35 25.92 - Others 69.73 55.77 Insurance 27.78 20.59 Electricity charges 9.39 9.18 Rates and taxes, excluding taxes on income 48.15 22.63 Freight outwards 721.83 632.86 Communication 19.16 18.45 Office maintenance 6.84 5.97 Travelling and conveyance 30.91 23.49 Legal and professional fees 142.31 126.96 Property, plant and equipment written off 14.35 6.18 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated)