PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

126 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) March 31, 2021 Contractual cash flows Carrying amount Total 1 year or less 1-2 years 2-5 years More than 5 years Non-derivative financial liabilities Term loans from banks 36,621.67 36,621.67 3,439.85 5,844.70 24,184.10 3,153.02 Other borrowings 14,228.16 14,228.16 14,228.16 – – – Trade payables 18,042.62 18,042.62 18,042.62 – – – Other financial liabilities 6,260.82 6,260.82 6,260.82 – – – Lease liability 739.56 739.56 156.45 153.98 429.13 Derivative financial liabilities Interest rate swaps 637.03 637.03 637.03 – – – 76,529.86 76,529.86 42,764.93 5,998.68 24,613.23 3,153.02 March 31, 2020 (Restated) Contractual cash flows Carrying amount Total 1 year or less 1-2 years 2-5 years More than 5 years Non-derivative financial liabilities Term loans from banks 24,701.41 24,701.41 2,138.65 8,165.74 12,368.15 2,063.37 Other borrowings 23,654.21 23,654.21 23,654.21 – – – Trade payables 15,729.63 15,729.63 15,729.63 – – – Other financial liabilities 5,636.30 5,636.30 5,636.30 – – – Lease liabilities 898.46 898.46 79.63 153.98 664.85 Derivative financial liabilities Interest rate swaps 1,615.18 1,615.18 1,615.18 – – – 72,235.19 72,235.19 48,853.60 8,319.72 13,033.00 2,063.37 The gross inflows/(outflows) disclosed in the above table represent the contractual undiscounted cash flows relating to derivative financial liabilities held for risk management purposes and which are not usually closed out before contractual maturity. The disclosure shows net cash flow amounts for derivatives that are net cash-settled and gross cash inflow and outflow amounts for derivatives that have simultaneous gross cash settlement. c) Currency Risk The Company is exposed to currency risk on account of its borrowings and other payables in foreign currency. The functional currency of the Company is Indian Rupee. The Company uses forward exchange contracts to hedge its currency risk, most with a maturity of less than one year from the reporting date. NOTES TO THE STANDALONE FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs) 33 Financial risk management (continued) b) Liquidity risk (continued)