PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

104 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) 8 Other non-current assets Particulars Non-Current Portion Current Portion As at March 31, 2021 As at March 31, 2020 (Restated) As at March 31, 2021 As at March 31, 2020 (Restated) Capital advances* Considered good 4,363.93 459.11 – – Considered doubtful 36.15 36.15 – – Less: Allowance for doubtful advances (36.15) (36.15) – – 4,363.93 459.11 – – Advances other than Capital advances Deposits with custom authorities 6.00 6.00 – – Prepaid expenses 1.85 11.36 783.88 1,136.58 Receivable from government authorities 106.24 106.09 5,313.25 3,566.67 Vat/sales tax receivable 38.13 38.13 – – Loans and advances to employees – – 13.98 7.90 Advance for supply of goods and services* – – 3,857.08 4,380.58 Less: Allowance for doubtful advances – – (160.00) (160.00) 4,516.15 620.69 9,808.19 8,931.73 * An amount of Rs. 1375.82 lakhs (March 31 2020 Rs. 360.45 lakhs) due from director, other officer of the Company or firms in which any director is a partner or private companies in which any director is a director or member at anytime during the reporting period. (refer note 30 and below table) Particulars Nature of Transaction As at March 31, 2021 As at March 31, 2020 (Restated) Privi Organics USA Corporation Advance for supply of goods and services 975.82 360.45 Minar Organics Pvt. Ltd. Capital advances 225.00 – Vivira Chemicals Pvt. Ltd. Capital advances 175.00 – Total 1,375.82 360.45 9 Inventories (valued at lower of cost and net realisable value) Particulars As at March 31, 2021 As at March 31, 2020 (Restated) Raw materials including goods in transit Rs. 5,559.88 lakhs (March 31, 2020 : Rs. 7,294.74 lakhs) 9,591.30 11,921.62 Finished goods including goods in transit Rs. 6,392.50 lakhs (March 31, 2020 : Rs. 4,042.70 lakhs) 11,645.11 10,554.55 Work-in-progress 9,306.99 7,639.14 Stores and spares 540.64 411.57 Packing material 86.91 61.28 Fuel 326.57 186.80 31,497.52 30,774.96 i) T he cost of inventories recognised as an expense during the year was Rs. 74,353.76 lakhs (March 31, 2020 Rs. 78,806.14 lakhs) ii) The mode of valuation of inventories has been stated in note 2 xii. iii) Bank overdrafts, cash credit and short-term loan from bank facility are secured by first paripassu charge on inventories (including raw material, finished goods and work-in-progress) and book debts (refer note 10 and 15). NOTES TO THE STANDALONE FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs)