204 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD Standalone STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 13. Inventories As at 31 March 2024 31 March 2023 Raw materials 258.26 711.58 Work-in-progress 17.79 12.03 Semi finished goods 1,179.94 1,457.42 Finished goods 798.63 1,246.11 Stock-in-trade 69.08 70.37 Packing materials 114.01 105.37 Stores, spares and consumables 54.47 58.10 2,492.18 3,660.98 Note: The write down of inventories to net realisable value during the year ended 31 March 2024 aggregated to ₹66.79 (31 March 2023 : ₹ 41.57). This write down is included in the changes in inventories of finished goods, semi finished goods and stock-in-trade in the statement of profit and loss. 14. Trade receivables As at 31 March 2024 31 March 2023 Unsecured, considered good 286.97 279.23 Unsecured, significant increase in credit risk 11.68 9.06 Unsecured, credit impaired 69.27 65.45 367.92 353.74 Less: Allowance for credit loss (80.95) (74.51) Less: Expected credit loss (0.15) (0.14) 286.82 279.09 The movement in the allowance for credit loss and expected credit loss for the year ended 31 March 2024 and 31 March 2023 is as follows: For the year ended March 31, 2024 March 31, 2023 Opening balance at beginning of the year 74.65 70.94 Add: Provision made during the year 9.86 6.24 Less: Bad debts written off during the year (3.41) (2.53) Closing balance at end of the year 81.10 74.65 Trade Receivables ageing schedule as on 31 March 2024 Particulars Outstanding for following periods from due date of payment Less than 6 months 6 months - 1 year 1-2 years 2-3 years More than 3 years Total Undisputed Considered good 286.97 - - - - 286.97 Significant increase in credit risk 8.23 - - - - 8.23 Credit impaired - 3.82 2.04 63.41 - 69.27 Disputed Considered good - - - - - - Significant increase in credit risk - - - - 3.45 3.45 Credit impaired - - - - - - Summary of the material accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated)
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