annual-report-FY2021

252 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 15. Borrowings a) Long Term Borrowings i) Non Current borrowings Rupees crores Particulars 2021 2020 Unsecured (Carried at Amortised Cost) : Debentures.................................................................................................................................................. 3,463.75 973.96 Term loan from banks................................................................................................................................ 3,050.00 413.48 Lease liabilities............................................................................................................................................ 80.19 68.80 Other loans................................................................................................................................................. 476.09 575.79 Total Unsecured Borrowings ..................................................................................................................... 7,070.03 2,032.03 (a) Debentures: Rupees crores 2021 2020 – 9.55 % p.a. Senior Redeemable Non-Convertible Debentures maturing in July 2063 .......... 500.00 500.00 – 7.57 % p.a. Redeemable Non-Convertible Debentures maturing in September 2026 .......... 475.00 475.00 – 6.19 % p.a. Redeemable Non-Convertible Debentures maturing in June 2025 # ................... 500.00 — – 6.78 % p.a. Redeemable Non-Convertible Debentures maturing in April 2023 .................... 1,000.00 — – 6.65 % p.a. Redeemable Non-Convertible Debentures maturing in April 2023 .................... 1,000.00 — Less : Unamortised finance cost ..................................................................................................... 11.25 1.04 3,463.75 973.96 # The Company and the debentures holders have call and put option respectively to redeem, in part or in full, the debentures on 8 th June, 2023 and 8 th June, 2024. (b) Term Loan from Banks: The Company has taken Unsecured Term Loan from Banks aggregating to Rs. 3,050.00 crores which are repayable over a period of maximum five years upto August 2025 and carry interest rates which are linked to Repo rate with spread ranging from 2.15% p.a.p.m. to 2.35% p.a.p.m. Certain loans have floor rate and ceiling rate defined such that the effective interest rate would range between 5.50% p.a.p.m. to 7.95% p.a.p.m. (c) Lease liabilities comprises of liabilities on account of long term leases in accordance with requirement of Ind AS 116 - Leases. (d) Other loans comprise deferred sales tax loans which are interest free and repayable in five equal installments after ten years from the year of availment of respective loan. ii) Current maturities of long term borrowings Rupees crores Particulars 2021 2020 Debentures . ............................................................................................................................................... 0.01 0.01 Term Loan From Banks ............................................................................................................................. 428.74 — Lease Liabilities .......................................................................................................................................... 43.79 41.04 Other Loans ............................................................................................................................................... 99.70 94.87 Less : Unamortised finance cost ............................................................................................................... 0.20 — Total ............................................................................................................................................................. 572.04 135.92 Refer Note 16. Term loan from banks comprise of EURO External Commercial Borrowings carrying an average margin of 95 basis points over three month EURO LIBOR and are repayable after five years and one day from the date of respective availment of loan. Lease Liabilities comprise of current portion of long term lease liability.