228 Atul Ltd | Annual Report 2022-23 Atul Ltd | Annual Report 2022-23 Atul Ltd Atul House G I Patel Marg Ahmedabad 380 014, Gujarat India Atul Ltd | Annual Report 2022-23 Reconnect | Reimagine | Regrow Corporate Overview Statutory Reports Financial Statements (` cr) Note 16 Borrowings Maturity Terms of repayment Interest rate p.a. As at March 31, 2023 As at March 31, 2022 Noncurrent Current Noncurrent Current a) Secured i) Rupee term loan from banks (refer Note a) September 2027 20 equal quarterly installments 7.90% (March 31, 2022: 8.25% ) 21.30 - 49.33 - ii) Foreign currency term loan from banks (refer Note b) May 2023 50 equal monthly installments 5.25% - - 0.79 - August 2023 48 equal monthly installments starting from September 2019 2.75% (Base rate + 2%) 5.44 - - - iii) Working capital loans from banks (refer Note c) September 2024 48 equal quarterly installments 9.40 % (March 31, 2022: 8.25%) 0.18 0.36 0.53 0.02 1 - 12 months Repayable on demand 8.75% to 9.40% (March 31, 2022: 9.75% to 10.15%) - 9.29 - 4.25 Short-term Repayable on demand 9.00% to 9.25% (March 31, 2022: 7.10% to 7.35%) - 5.41 - 22.77 b) Unsecured i) Loan from related parties (refer Note 30.4) March 2028 5 equal annual installments 9.40% (March 31, 2022: 9%) 5.00 - 10.50 - ii) Working capital demand loan from banks 0 - 90 days 0 - 90 days 3.8% to 4% - - - 50.17 31.92 15.06 61.16 77.22 Amount of current maturities of long-term debt disclosed under the head 'current borrowing' (3.21) 3.21 (0.11) 0.11 28.71 18.27 61.05 77.33 Notes: a) Rupee term loans from banks are secured by exclusive charge on the property, plant and equipment of respective subsidiary companies, both present and future. b) Foreign currency term loans from banks are secured by exclusive charge on the building of respective subsidiary companies, both present and future. c) Working capital loans repayable on demand from banks (March 31, 2023: ` 14.70 cr, March 31, 2022: ` 72.94 cr) are secured by hypothecation of tangible current assets, namely, inventories and book debts and secured by second and subservient charge on immovable and movable assets of the Company and certain subsidiary comapnies to the extent of individual bank limit as mentioned in joint consortium documents. This also extends to guarantees and letters of credit given by the bankers aggregating to ` 200.08 cr (March 31, 2022: ` 195.80 cr). d) Quarterly statement of current assets filed with banks during the year are in agreement with the books of accounts.
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