Atul Ltd 2019-20

191 Consolidated | Notes to the Financial Statements e) Cash flow hedging reserve The Group uses hedging instruments as part of its management of foreign currency risk associated with its highly probable forecast sale and inventory purchases and interest rate risk associated with variable interest rate borrowings. For hedging foreign currency risk, the Company uses foreign currency forward contracts, foreign currency option contracts and interest rate swaps. They are designated as cash flow hedges to the extent these hedges are effective, the change in fair value of the hedging instrument is recognised in the cash flow hedging reserve. Amounts recognised in the cash flow hedging reserve is reclassified to profit or loss when the hedged item affects profit or loss (for example, sales and interest payments). When the forecast transaction results in the recognition of a non-financial asset (for example, inventory), the amount recognised in the cash flow hedging reserve is adjusted against the carrying amount of the non-financial asset. f) Foreign currency translation reserve Exchange differences arising on translation of the foreign operations are recognised in other comprehensive income as described in accounting policy and accumulated in a separate reserve within equity. The cumulative amount is reclassified to the Consolidated Statements of Profit and Loss when the net investment is disposed-off. ( ` cr) Note 16 Borrowings Maturity Terms of repayment As at March 31, 2020 As at March 31, 2019 Current Non-current Current Non-current a) Secured i) Rupee term loan from banks (refer Note a) July 2025 20 equal quarterly installments - 40.94 - 27.82 December 2025 22 equal quarterly installments - 32.78 - 2.00 ii) Foreign currency term loan from banks (refer Note b) May 2023 50 equal monthly installments - 0.99 - 0.99 August 2023 48 equal monthly installments starting from September 2019 - 16.85 - 10.37 iii) Working capital loans from banks (refer Note c) 1 - 12 months Repayable on demand 3.39 2.00 4.32 - b) Unsecured - i) Rupee term loan from a bank March 2021 8 quarterly installments - 4.52 - 4.17 ii) Loan from banks including foreign banks 1 - 6 months 1 - 6 months - - - - iii) Loan from Related Parties 1 - 6 months 1 - 6 months 7.00 - 5.08 - 10.39 98.08 9.40 45.35 Amount of current maturities of long-term debt disclosed under the head 'Other financial liabilities' (refer Note 17) - (11.50) - (2.21) Interest accrued disclosed under the head 'Other financial liabilities' (refer Note 17) - (0.08) - 10.39 86.58 9.32 43.14 Notes: a) R upee term loans from banks are secured by exclusive charge on the property, plant and equipment of respective subsidiary companies, both present and future. b) F oreign currency term loans from banks are secured by exclusive charge on the building of respective subsidiary companies, both present and future.