annual-report-FY2021

254 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 16. Other Financial Liabilities Rupees crores Particulars Non-Current Current 2021 2020 2021 2020 Carried at Amortised Cost: Current maturities of long-term borrowings.................................................. — — 572.04 135.92 Interest accrued and not due on borrowings................................................. — — 188.69 20.83 Unclaimed dividends......................................................................................... — — 18.43 19.87 Unclaimed matured deposits and interest accrued thereon......................... — — 0.09 0.10 Security Deposits. .............................................................................................. 86.51 91.94 — — Other liabilities.................................................................................................. 324.51 321.18 1,126.77 840.41 Carried at Fair Value: Derivative financial Liabilities. ......................................................................... — 54.44 70.60 35.72 Derivatives on Interest in Subsidiaries, Associates and Joint Ventures........ 65.53 92.51 50.85 — Total other financial liabilities . ........................................................................ 476.55 560.07 2,027.47 1,052.85 Other liabilities include salaries and wages payable, capital creditors, brand licenses payable and monies adjusted from share capital and other equity on account of shares held by M&M ESOP Trust pending transfer to the eligible employees. 17. Provisions Rupees crores Particulars Non-Current Current 2021 2020 2021 2020 Provision for Employee Benefits....................................................................... 662.73 595.54 108.63 177.99 Provision for Warranty....................................................................................... 274.02 302.03 298.27 312.11 Provision for Service coupons. .......................................................................... 18.67 25.41 79.58 105.46 Total Provisions . ................................................................................................. 955.42 922.98 486.48 595.56 Provision for warranty relates to provision made in respect of sale of certain products, the estimated cost of which is accrued at the time of sale. The products are generally covered under a free warranty period ranging from 8 months to 5 years. Provision for employee benefits includes gratuity, provident fund, post retirement benefits, compensated absence etc. The movement in provision for warranty and service coupon is as follows: Rupees crores Particulars Warranty Service coupons 2021 2020 2021 2020 Opening Balance............................................................................................... 614.14 595.55 130.87 154.76 Additional net provisions recognised during the year.................................. 160.69 265.63 46.90 77.93 Amounts utilised during the year.................................................................... (233.48) (285.26) (86.80) (111.90) Unwinding of discount..................................................................................... 30.94 38.22 7.28 10.08 Closing Balance . ................................................................................................ 572.29 614.14 98.25 130.87