Consolidated STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 269 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24 18. Borrowings As at 31 March 2024 31 March 2023 Non-current Secured Term loans from banks [refer note 18(a)] 751.47 37.19 Deferred payment liabilities - 7.77 751.47 44.96 Current Secured Current maturities of term loans from banks 168.99 21.25 Loans repayable on demand from banks [refer note 18(b)] - 1,013.96 Current maturities of deferred payment liabilities 7.77 13.33 176.76 1,048.54 Unsecured Loans repayable on demand from banks [refer note 18(b)] - 250.00 - 250.00 176.76 1,298.54 (i) Reconciliation of liabilities arising from financial activities* For the year ended 31 March 2024 31 March 2023 Balance at beginning of the year 58.44 79.69 Proceeds from long term borrowings 908.00 - Repayments of long term borrowings (33.30) (21.25) Others (12.68) - Balance at end of the year 920.46 58.44 *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 2024 31 March 2023 Balance at beginning of the year 0.49 0.56 Interest expense for the year 25.44 6.21 Interest paid during the year 25.59 6.28 Balance at end of the year 0.34 0.49 (iii) Deferred payment liabilities represents sales tax collected under deferment scheme which the Holding Company is obligated to repay in 14 yearly instalments starting from September 2011 and ending by September 2024 in case of its Gokul plant and in 14 yearly instalments starting from November 2010 and ended by November 2023 for its Bayyavaram plant. The Holding Company has created a charge on its specified fixed assets. 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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