Consolidated STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 265 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24 (a) 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 92.66 93.98 Provision made during the year 9.86 6.25 Amount recovered during the year (3.85) (4.97) Bad debts written off during the year (6.93) (2.60) Closing balance at end of the year 91.74 92.66 (b) Trade receivables ageing schedule 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 As at 31 March 2024 Undisputed Considered good 287.21 - - - - 287.21 Significant increase in credit risk 8.24 - - - - 8.24 Credit impaired - 3.82 2.04 63.41 - 69.27 Disputed Considered good - - - - - - Significant increase in credit risk - - - - 3.45 3.45 Credit impaired - - - - 10.63 10.63 As at 31 March 2023 Undisputed Considered good 280.20 - - - - 280.20 Significant increase in credit risk 5.62 - - - - 5.62 Credit impaired - 2.04 63.41 - - 65.45 Disputed Considered good - - - - - - Significant increase in credit risk - - - - 7.25 7.25 Credit impaired - - - - 14.20 14.20 Trade receivables include dues aggregating to ₹0.26 (31 March 2023: ₹2.21) receivable from Heritage Novandie Foods Private Limited, in which Director of the Holding Company is a Director 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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