The table below summarises the maturity profi le of the Company’s fi nancial liabilities based on contractual undiscounted payments: Particulars As at 31 March 2023 As at 31 March 2022 On demand Up to 1 year More than 1 year Total On demand Up to 1 year More than 1 year Total Financial guarantees # 189.03 - - 189.03 199.95 - - 199.95 Borrowings 1,243.58 - - 1,243.58 - - - - Deferred payment liabilities - 13.33 7.77 21.10 - 16.37 21.10 37.47 Lease liabilities - 59.80 521.82 581.62 - 33.65 53.17 86.82 Trade payables - 427.66 - 427.66 - 482.04 - 482.04 Other fi nancial liabilities - 1,013.38 - 1,013.38 - 1,014.23 - 1,014.23 1,432.61 1,514.17 529.59 3,476.37 199.95 1,546.29 74.27 1,820.51 # Represents loan amount outstanding to the bankers by the entities, against which fi nancial guarantees were extended by the Company as at 31 March 2023 and 31 March 2022. C. Market risk Market risk is the risk of loss of future earnings, fair values or future cash fl ows that may result from adverse changes in the market rates and prices. Market risk is attributable to all market risk-sensitive fi nancial instruments, all foreign currency receivables and payables and all short-term and long-term borrowings. Market risk comprises three types of risk: interest rate risk, currency risk and other price risks such as equity price risk. i. Interest risk: Interest rate risk is the risk that the fair value or future cash fl ows of a fi nancial instrument shall fl uctuate because of changes in the market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s short-term obligations with fl oating interest rates. The impact on account of change in interest rate on the Company’s long-term obligations is not considered as signifi cant. ii. Foreign currency risk: Foreign currency risk is the risk that the fair value or future cash fl ows of an exposure shall fl uctuate because of changes in foreign exchange rates. The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the Company’s operating and investing activities (when revenue or expense including capital expenditure is denominated in a foreign currency). The exposure of foreign currency risk to the entity is low as it enters very limited transactions in foreign currencies and accordingly any impact on account of change in the exchange rate is not considered as signifi cant. The carrying amounts of the Company’s unhedged foreign currency denominated monetary items in ₹ terms as at 31 March 2023 and 31 March 2022 are as follows: Financial assets - Trade receivables 31 March 2023 31 March 2022 - USD - - Financial liabilities- capital creditors 31 March 2023 31 March 2022 - EURO - 2.65 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Heritage Foods Limited | 31st Annual report 2022-23 232
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