255 iii) T he following table provides details regarding the contractual maturities of lease liabilities on an undiscounted basis (` cr) Particulars As at March 31, 2023 As at March 31, 2022 Less than one year 0.86 0.82 One to five years 4.46 4.30 More than five years 2.15 3.00 Total 7.47 8.12 The Group does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due. Rent paid to lessor for short-term lease period is recognised into the Consolidated Statement of Profit and Loss as Rent in Note 29 ‘Other expenses’. Cash payments for the principal portion and interest of the lease liabilities are classified within financing activities and shortterm lease payments within operating activities. b) As a lessor i) Operating lease T he Group has entered into operating leases on its office buildings and land. These are cancellable by the Group, having a term between 11 months and three years and have no specific obligation for renewal. Rents received are recognised in the Consolidated Statement of Profit and Loss as lease income in Note 23 ‘Other income’. ii) Finance lease The Group has given a building on finance lease for a term of 30 years and machines for a term of 10 years. F uture minimum lease payments receivable under finance leases, together with the present value of the net minimum lease payments (MLP), are as under: (` cr) Particulars As at March 31, 2023 As at March 31, 2022 MLP receivable Present value of MLP receivable MLP receivable Present value of MLP receivable Not later than one year 1.11 1.07 0.91 0.87 Later than one year and not later than five years 4.05 3.11 4.07 3.15 Later than five years 4.42 2.37 5.50 2.87 Total MLP receivable 9.58 6.55 10.48 6.89 Less: unearned finance income 3.03 - 3.59 - Present value of MLP receivable 6.55 6.55 6.89 6.89 Less: allowance for uncollectible lease payments - - - - 6.55 6.55 6.89 6.89 Note 30.13 Rounding off Figure less than ` 50,000 have been shown as ‘0.00’ in the relevant notes in these Consolidated Financial Statements. Note 30.14 Buy-back of shares The Board of Directors in its meeting held on March 25, 2022, had approved a proposal to buy-back fully paid-up equity shares of face value of ` 10 each of the Company. The buy-back of equity shares through the open market stock exchange route commenced on April 07, 2022, and it was completed on May 09, 2022. The Company bought back and extinguished a total of 73,296 equity shares at an average buy-back price of ` 9,536.31 per equity share, constituting 0.25% of the pre Note 30.12 Leases (continued)
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