PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

100 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) NOTES TO THE STANDALONE FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs) 3 Property, plant and equipment Description Gross carrying amount Accumulated Depreciation Net carrying amount As at April 01, 2020 (Restated) Addition during the year Disposal during the year As at March 31, 2021 As at April 01, 2020 (Restated) Depreciation for the year Disposal during the year As at March 31, 2021 As at March 31, 2021 At cost : Building 13,087.86 1,959.84 – 15,047.70 1,252.94 436.43 – 1,689.37 13,358.33 Leasehold Improvement 547.20 – – 547.20 462.02 39.72 – 501.74 45.46 Plant and equipment 61,174.88 3,980.81 – 65,155.69 23,057.87 5,347.17 – 28,405.04 36,750.65 Electrical installation 3,336.49 152.49 – 3,488.98 1,304.20 291.58 – 1,595.78 1,893.20 Furniture and fittings 97.86 13.65 – 111.51 47.60 3.87 – 51.47 60.04 Office equipment 380.28 7.84 – 388.12 114.57 30.14 – 144.71 243.41 Computers 673.00 289.39 1.73 960.66 306.39 97.69 0.57 403.51 557.15 Lab equipment 1,114.93 73.63 – 1,188.56 515.32 84.26 – 599.58 588.98 Vehicles 404.29 192.09 – 596.38 95.18 48.56 – 143.74 452.64 80,816.79 6,669.74 1.73 87,484.80 27,156.09 6,379.42 0.57 33,534.94 53,949.86 Capital work-in-progress 3,026.99 21,270.97 6,853.01 17,444.95 – – – – 17,444.95 83,843.78 27,940.71 6,854.74 1,04,929.75 27,156.09 6,379.42 0.57 33,534.94 71,394.81 a) The net carrying amount of property, plant and equipment, amounting to Rs. 53,949.86 lakhs (March 31, 2020 Rs. 53,660.70 lakhs) are pledged as first charge security to banks providing term loans and second charge to banks providing working capital loans. b) The Plant and machinery, Building and electrical installation includes an amount of Rs. 53.21 lakhs, Rs. 21.58 lakhs and Rs. 2.54 lakhs respectively (March 31, 2020 : Rs. 343.25 lakhs, Rs. 130.65 lakhs and Rs. 9.98 lakhs) that represent borrowing cost capitalized @ 6.75% during the year. (March 31, 2020 : 8.6%). c) The Company has not recognised any impairment loss during the current year (March 31, 2020 - Nil). Description Gross carrying amount Accumulated Depreciation Net carrying amount As at April 01, 2019 (Restated) Addition during the year Disposal during the year As at March 31, 2020 (Restated) As at April 01, 2019 (Restated) Depreciation for the year Disposal during the year As at March 31, 2020 (Restated) As at March 31, 2020 (Restated) At cost : Building 8,058.93 5,028.93 – 13,087.86 935.44 317.50 – 1,252.94 11,834.92 Leasehold Improvement 547.20 – – 547.20 422.20 39.82 – 462.02 85.18 Plant and equipment 42,358.90 18,815.98 – 61,174.88 18,832.61 4,225.26 – 23,057.87 38,117.01 Electrical installation 2,538.22 798.27 – 3,336.49 1,049.16 255.04 – 1,304.20 2,032.29 Furniture and fixtures 92.17 5.69 – 97.86 42.87 4.73 – 47.60 50.26 Office equipment 145.98 234.30 – 380.28 104.03 10.54 – 114.57 265.71 Computers 442.77 230.23 – 673.00 245.69 60.70 – 306.39 366.61 Lab equipment 786.13 328.80 – 1,114.93 456.46 58.86 – 515.32 599.61 Vehicles 387.97 28.58 12.26 404.29 71.89 35.55 12.26 95.18 309.11 55,358.27 25,470.78 12.26 80,816.79 22,160.35 5,008.00 12.26 27,156.09 53,660.70 Capital work-in-progress 9,377.81 19,274.08 25,624.90 3,026.99 – – – – 3,026.99 64,736.08 44,744.86 25,637.16 83,843.78 22,160.35 5,008.00 12.26 27,156.09 56,687.69 a) T he net block of property, plant and equipment, amounting to Rs. 53,660.70 lakhs (March 31, 2019 Rs. 34,339.66 lakhs) are pledged as first charge security to banks providing term loans and second charge to banks providing working capital loans. b) T he Plant and Machinery, Building and electrical installation includes an amount of Rs. 343.25 lakhs, Rs. 130.65 lakhs and Rs. 9.98 lakhs respectively (March 31, 2019 : Rs. 156.54 lakhs, Rs. 8.74 lakhs and Rs. 10.48 lakhs) that represent borrowing cost capitalized @ 8.6% during the year.(March 31, 2019 : 8.6%). c) The Company has not recognised any impairment loss during the current year (March 31, 2019 - Nil).