PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

165 Annual Report 2020-21 CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS 13 b) Other equity (continued) The Group’s debt equity ratio as at March 31, 2021 was as follows: Particulars As at March 31, 2021 As at March 31, 2020 (Restated) Total Debt 53,063.97 50,258.27 Less: Cash and cash equivalents and short term investments 1,973.95 8,831.57 Net Liabilities (A) 51,090.02 41,426.70 Equity (B) 72,251.90 61,205.34 Debt - Equity Ratio 0.71 0.68 In addition, the Group has financial covenants relating to the borrowing facilities that it has taken from the lenders like interest coverage service ratio, Debt to EBITDA, etc. 14 a) Non-current borrowings Description 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) Secured: Term Loans from banks Term loan in Indian currency (refer note (b) below) 30,586.99 19,360.78 2,720.00 1,441.50 Term loans in foreign currency 2,582.97 3,116.01 645.74 621.22 Term Loans from financial institutions Vehicle loan (hypothecated with the lender) 11.86 85.97 74.11 75.93 Unsecured: Term Loan from Others Loan from Department of biotechnology (Refer Note (d) below) 3.00 9.00 6.00 9.00 33,184.82 22,571.76 3,445.85 2,147.65 (*) Amount disclosed under the head ‘Other financials liabilities’ Refer Note 19 i) Term loan are secured by a first mortgage on the Holding company’s immovable properties both present and future ranking paripassu interest and a first charge by way of hypothecation of all the Holding company’s assets (save and except book debts and inventories) including movable machinery (save and except spares tools and accessories) both present and future subject to charges created in favour of the Holding company’s bankers for inventories, book debts and other specified movable assets for securing the borrowings of Working Capital. ii) Currency swap on IDFC Rupee loan of Rs. 4,000 lakhs and ICICI bank rupee loan of Rs. 4,000 lakhs are taken @ 64.42 per USD and @ 68.13 per USD respectively and other currency swap on HDFC Bank Rupee loan of Rs. 5,600 lakhs and Rs. 7,400 lakhs are taken @ 76.78 per USD and @ 75.83 per USD respectively, The Currency swap represents derivative instruments which has been mark to market at the year end. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs)