208 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD Standalone STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 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. 18. Borrowings As at 31 March 2024 31 March 2023 Non-current Secured Term loans from banks [refer note 18(a)] 735.53 - Deferred payment liabilities [refer note 18(iv)] - 7.77 735.53 7.77 735.53 7.77 Current Secured Current maturities of long term borrowings [refer note 18(a)] 147.74 - Loans repayable on demand from banks [refer note 18(b)] - 993.58 Current maturities of deferred payment liabilities [refer note 18(iv)] 7.77 13.33 155.51 1,006.91 Unsecured Loans repayable on demand from banks [refer note 18(b)] - 250.00 - 250.00 155.51 1,256.91 (i) Reconciliation of liabilities arising from financial activities* For the year ended 31 March 2024 31 March 2023 Balance at beginning of the year - - Proceeds from long term borrowings 908.00 - Repayments of long term borrowings (12.05) - Others (12.68) - Balance at end of the year 883.27 - *Includes only current and non-current portions of term loans from banks. 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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