Consolidated STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 270 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD 18(a) Terms and conditions of term loans from banks Name Interest rate (%) and terms of repayment Type of security Outstanding balance as on* 31 March 2024 31 March 2023 Bank of Baroda One year MCLR +0.25% per annum; and repayable in 24 quarterly instalments commencing from March 2024 Mortgage of Shamirpet plant and charge on plant and machinery of Shamirpet plant 276.35 - ICICI Bank One year MCLR +0.10% per annum; and repayable in 24 quarterly instalments commencing from June 2024 - First charge by way of equitable mortgage over the identified immovable fixed assets of Borrower. - First charge by way of hypothecation of movable fixed assets of above identified immovable fixed assets of Borrower. 606.92 - Kotak Mahindra Bank Three months MCLR+ spread per annum; and repayable in 24 quarterly instalments commenced from March 2020 - Equitable mortgage on land and building located at Mallavalli village, Krishna District. - Exclusive charge on movable fixed assets located at Mallavalli plant and by second charge on all current assets of the feed division. 37.19 58.44 920.46 58.44 *Including current maturities of term loans from banks. 18(b) Terms and conditions of loans repayable on demand from banks Name Interest rate (%) Type of security Outstanding balance as on 31 March 2024 31 March 2023 ICICI Bank Six months MCLR + 0.50% per annum First pari passu charge on current assets and second pari passu charge on fixed assets of the Holding Company, excluding project specific assets. - 292.95 Bank of Baroda One year MCLR + 0.25% per annum - 369.32 Union Bank of India One year MCLR + 0.10% per annum - 202.73 Kotak Mahindra Bank 6 Months MCLR + 0.30% per annum - 78.51 HDFC Bank One Month MCLR + 2.01% per annum - 50.07 Kotak Mahindra Bank 6 Months MCLR + spread per annum First charge on the present and future current assets of the feed division of the group. - 20.38 ICICI Bank 3 Months MCLR + 0.50% per annum Unsecured - 250.00 - 1,263.96 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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