181 / 220
179
(
`
cr)
Note 17 Borrowings
Maturity
Terms of
repayment
Effective
interest
rate p.a.
As at
March 31, 2018
As at
March 31, 2017
Current
Non-current
Current
Non-current
a)
Secured
i)
Rupee term loan from a foreign
financial institution (refer Note a)
January 2018 15 equal
half yearly
installments
6.99% -
7.46%
–
–
–
10.42
ii)
Foreign currency term loans from
banks (refer Note b and c)
September
2017
12 equal
quarterly
installments
3 months
LIBOR +
2.90%
–
–
–
10.81
iii) Working capital loans from banks
(refer Note e)
1-12 months Repayable on
demand
2.43% -
11.00%
3.38
–
13.43
–
iv) Rupee term loans from bank (refer
Note d)
June 2018 60 equal
monthly
installments
Base rate +
2.50%
–
–
–
1.87
b)
Unsecured
i)
Loan from banks including foreign
banks
1-6 months 1-6 months 1.00% -
5.00%
1.00
–
52.95
–
ii)
Loan from Related Parties
1-6 months 1-6 months 9.25%
11.52
–
4.25
–
iii) Commercial papers
1-3 months 1-3 months 6.50%
–
–
73.95
–
iv)
Deposit from the Directors
1-12 months 1-12 months 6.50%
1
0.01
–
0.01
–
15.91
–
144.59
23.10
Amount of current maturities of long-term debt disclosed under the head ’Other
financial liabilities‘ (refer Note 18)
–
–
–
(22.72)
15.91
–
144.59
0.38
1
9.00% p.a. during the previous year.
a) Rupee term loan from a foreign financial institution was secured by first
pari passu
charge by way of hypothecation of
all movable property, plant and equipment and mortgage of immovable properties of the Company, present and future,
excluding specific assets with first
pari passu
charge with other lenders and second charge on entire current assets of the
Company, both present and future.
b) Foreign currency term loan from a foreign bank was secured by first
pari passu
charge by way of hypothecation of all
movable property, plant and equipment and mortgage of immovable properties of the Company, present and future,
excluding specific assets with first
pari passu
charge and second charge on entire current assets of the Company, both
present and future.
c) Foreign currency term loan from a bank was secured by first
pari passu
charge on the entire movable and immovable
property, plant and equipment of the Company, both present and future.
d) Rupee term loan from bank was secured by exclusive charge on the property, plant and equipment of a subsidary
company as a whole, both present and future.
e) Security details:
Working capital loans repayable on demand from banks is secured by hypothecation of tangible current assets, namely,
inventories and book debts of the Company and certain subsidiary companies as a whole and also secured by second and
subservient charge on immovable and movable assets of the Group to the extent of individual bank limit as mentioned
in joint consortium documents. This also extends to guarantees and letters of credit given by the bankers aggregating to
`
88.30 cr (March 31, 2017:
`
82.47 cr).
f) The carrying amount of assets hypothecated | mortgaged as security for current and non-current borrowings is:
(
`
cr)
Particulars
As at
March 31, 2018
As at
March 31, 2017
First charge for current and second charge for non-current
borrowings
i)
Inventories
378.95
367.89
ii)
Trade receivables
717.68
507.06
iii) Current assets other than inventories and trade receivables
184.60
158.25
1,281.23
1,033.20
First charge for non-current and second charge for current
borrowings
Property, plant and equipment excluding leasehold land
937.06
946.51
Total assets as security
2,218.29
1,979.71
Notes
to the Consolidated Financial Statements