PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

114 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) Particulars Year ended March 31, 2021 Year ended March 31, 2020 (Restated) 24 Changes in inventories of finished goods and work in progress Closing stock: Finished goods 11,645.11 10,554.55 Work in progress 9,306.99 7,639.14 20,952.10 18,193.69 Opening stock: Finished goods 10,554.55 10,489.31 Work in progress 7,639.14 6,186.55 18,193.69 16,675.86 (Increase)/ decrease in inventories (2,758.41) (1,517.83) 25 Employee benefits expense Salaries, wages and bonus 5,533.21 5,304.52 Contribution to provident and other funds 293.15 274.69 Staff welfare expenses 459.04 411.13 6,285.40 5,990.34 26 Finance cost Interest on term loans using effective interest rate measured at amortised cost 1,286.57 1,097.58 Add - Exchange difference regarded as an adjustment as per para 6E to borrowing costs 189.35 372.77 Less: Exchange loss capitalised as per para 6E from borrowing Cost (162.35) (108.73) Less: Interest capitalised (532.94) (500.98) Net interest on term loans 780.63 860.64 Interest on working capital loans using effective interest rate measured at amortised cost 1,218.29 2,233.64 Interest on vehicle loans using effective interest rate measured at amortised cost 11.89 18.05 Loan arrangement fees amortised using effective rate of interest basis 14.72 10.10 Interest on delayed payment of income tax 13.15 126.92 Interest cost lease liability using effective interest rate measured at amortised cost 84.89 97.52 2,123.57 3,346.87 27 Depreciation and amortisation Depreciation on property, plant and equipment 6,379.42 5,008.00 Amortisation of intangible assets 200.36 188.61 Amortisation right to use assets 340.49 310.91 6,920.27 5,507.52 NOTES TO THE STANDALONE FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs)