PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

183 Annual Report 2020-21 CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS Exposure to liquidity risk: The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements. 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 36,630.67 36,630.67 3,445.85 5,847.70 24,184.10 3,153.02 Other borrowings 16,433.30 16,433.30 16,433.30 – – – Trade payables 16,739.41 16,739.41 16,739.41 – – – Other financial liabilities 6,455.18 6,455.18 6,455.18 – – – Lease liabilities 431.25 431.25 156.45 153.98 120.82 – Derivative financial liabilities Interest rate swaps 637.03 637.03 637.03 – – – Total 77,326.84 77,326.84 43,867.22 6,001.68 24,304.92 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 24,719.41 24,719.41 2,147.65 3,423.74 14,282.70 4,865.32 Other borrowings 25,538.86 25,538.86 25,538.86 – – – Trade payables 14,972.40 14,972.40 14,972.40 – – – Other financial liabilities 5,732.48 5,732.48 5,732.48 – – – Lease liabilities 619.43 619.43 79.63 136.32 483.11 – Derivative financial liabilities Interest rate swaps 1,615.18 1,615.18 1,615.18 – – – 73,197.76 73,197.76 50,086.20 3,560.06 14,765.81 4,865.32 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 Group is exposed to currency risk on account of its borrowings and other payables in foreign currency. The functional currency of the Group is Indian Rupee. The Group 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 CONSOLIDATED FINANCIAL STATEMENTS for the year ended March 31, 2021 (Currency: Indian Rupees in lakhs) 34 Financial risk management (continued)