Heritage Foods Limited | 30th Annual Report 2021-22

30 th Annual Report 2021-22 Heritage Foods Limited 214 Warrants money appropriated Warrants money appropriated represents forfeiture of share application money made during the earlier years. General reserve The reserve has arisen on transfer of a portion of the net profit pursuant to the provisions of the erstwhile Companies Act, 1956. Mandatory transfer to general reserve is not required under the Act. Changes in fair value of equity instruments This represents the cumulative gains and losses arising on the fair valuation of equity instruments measured at FVTOCI, under an irrevocable option, net of amounts reclassified to retained earnings when such assets are disposed off. Retained earnings Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distribution to the shareholders. 19. Borrowings As at 31 March 2022 31 March 2021 Non-current Secured Term loans from banks [refer note 19(a)] 58.44 302.92 Deferred payment liabilities 21.10 37.48 79.54 340.40 Current Secured Current maturities of term loans from banks [refer note 19(a)] 21.25 263.58 Current maturities of deferred payment liabilities 16.37 15.99 Loans repayable on demand from banks [refer note 19(b)] - 19.36 37.62 298.93 (i) Reconciliation of liabilities arising from financial activities* For the year ended 31 March 2022 31 March 2021 Balance at beginning of the year 566.50 2,107.15 Proceeds from long term borrowings - 282.52 Repayments of long term borrowings (486.81) (1,823.17) Balance at end of the year 79.69 566.50 *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 4.07 14.53 Interest expense for the year 25.60 154.92 Interest paid during the year 29.11 165.38 Balance at end of the year 0.56 4.07 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated)