Heritage Foods Limited | 30th Annual Report 2021-22

Financial Statements Company Overview Statutory Reports 221 29. Employee benefits expense For the year ended 31 March 2022 31 March 2021 Salaries and wages 1,618.17 1,572.26 Contribution to provident and other funds (refer note a below) 87.66 72.00 Gratuity expense 16.18 14.45 Compensated absences expense 70.32 74.85 Staff welfare expenses 50.55 45.31 1,842.88 1,778.87 (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 ` 87.66 (31 March 2021: ` 72.00). 30. Finance costs For the year ended 31 March 2022 31 March 2021 Interest on borrowings calculated using effective interest method 28.25 176.88 Interest on income tax - 2.87 Interest on lease liabilities 6.77 5.86 Other borrowing costs 5.05 6.19 40.07 191.80 31. Other expenses For the year ended 31 March 2022 31 March 2021 Consumption of stores and spares and consumables 233.03 210.31 Power and fuel 358.44 346.36 Rent 37.72 20.77 Repairs and maintenance - Buildings 8.91 6.02 - Plant and equipment 19.90 26.15 - Others 71.38 57.38 Insurance 28.67 21.42 Electricity charges 9.39 9.18 Rates and taxes, excluding taxes on income 49.39 23.83 Freight outwards 788.54 699.50 Communication 20.39 19.32 Office maintenance 7.16 6.18 Travelling and conveyance 33.81 26.07 Legal and professional fees 145.76 129.65 Property, plant and equipment written off 14.36 6.18 Payment to auditors 9.52 9.13 Corporate social responsibility (CSR) expenditure 30.27 20.64 Selling and distribution expenses 145.92 95.40 Provision for doubtful advances - 11.82 Provision towards doubtful debts and bad debts written off 61.27 3.05 Bank charges 16.28 14.36 Advertisement expenses 2.56 8.23 Security charges 62.46 51.81 Miscellaneous expenses 67.52 44.21 2,222.65 1,866.97 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Consolidated