18. Borrowings As at 31 March 2023 31 March 2022 Non-current Secured Term loans from banks [refer note 18(a)] 37.19 58.44 37.19 58.44 Unsecured Deferred payment liabilities 7.77 21.10 7.77 21.10 44.96 79.54 Current Secured Current maturities of term loans from banks [refer note 18(a)] 21.25 21.25 Loans repayable on demand from banks [refer note 18(b)] 1,013.96 - 1,035.21 21.25 Unsecured Loans repayable on demand from banks [refer note 18(b)] 250.00 - Current maturities of deferred payment liabilities 13.33 16.37 263.33 16.37 1,298.54 37.62 (i) Reconciliation of liabilities arising from financial activities* For the year ended 31 March 2023 31 March 2022 Balance at beginning of the year 79.69 566.50 Proceeds from long term borrowings - - Repayments of long term borrowings (21.25) (486.81) Balance at end of the year 58.44 79.69 *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 2023 31 March 2022 Balance at beginning of the year 0.56 4.07 Interest expense for the year 6.21 25.60 Interest paid during the year 6.28 29.11 Balance at end of the year 0.49 0.56 (iii) Deferred Payment Liabilities represents sales tax collected under deferment scheme which the Holding Company is obligated to repay in 14 yearly installments starting from September 2010 and ending by September 2024 in case of its Gokul plant and in 14 yearly installments starting from November 2010 and ending by November 2023 for its Bayyavaram plant. The Holding Company has created a charge on its specifi ed fi xed assets. 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 2022-23 282
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