annual-report-FY2021

332 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 26. Employee Benefits Expense Rupees crores Particulars 2021 2020 Salaries and wages, including bonus....................................................................................................................... 6,806.34 6,966.73 Contribution to provident and other funds........................................................................................................... 464.77 567.53 Share based payment expenses. .............................................................................................................................. 142.72 204.05 Staff welfare expenses.............................................................................................................................................. 399.43 476.51 Total ............................................................................................................................................................................ 7,813.26 8,214.82 27. Finance Cost Rupees crores Particulars 2021 2020 Interest expense on Financial liabilities at amortised cost.................................................................................... 5,856.84 5,761.17 Interest on lease liability ......................................................................................................................................... 133.51 133.87 Other borrowing cost. .............................................................................................................................................. 111.87 126.11 Total ............................................................................................................................................................................ 6,102.22 6,021.15 Out of the above, finance cost related to: – financial services business. ............................................................................................................................... 5,265.45 5,349.32 – others................................................................................................................................................................. 836.77 671.83 Total............................................................................................................................................................................ 6,102.22 6,021.15 Other borrowing cost mainly includes discounting charges and unwinding of discount on financial liabilities other than lease liability. 28. Other Expenses Rupees crores Particulars 2021 2020 Stores consumed........................................................................................................................................................ 183.68 211.81 Tools consumed......................................................................................................................................................... 45.79 52.33 Power & fuel.............................................................................................................................................................. 429.56 530.92 Rent including lease rentals .................................................................................................................................... 232.79 292.60 Insurance.................................................................................................................................................................... 181.46 160.51 Repairs and maintenance......................................................................................................................................... 608.70 767.04 Advertisement. .......................................................................................................................................................... 356.82 940.56 Commission on sales/contracts (net)........................................................................................................................ 227.12 322.62 Freight outward. ....................................................................................................................................................... 3,049.13 3,143.78 Sales promotion expenses. ....................................................................................................................................... 362.43 844.24 Travelling and conveyance expenses....................................................................................................................... 219.00 612.21 Cost of projects.......................................................................................................................................................... 374.95 907.58 Subcontracting, hire and service charges................................................................................................................ 1,310.28 1,339.03 Provision for expected credit losses including write offs $................................................................................... 4,139.62 2,533.36 Miscellaneous expenses @........................................................................................................................................ 2,820.59 3,212.61 Total ............................................................................................................................................................................ 14,541.92 15,871.20 @ Short term leases and low value leases recongised as an expense for the year ended 31 st March, 2021 is aggregating to Rs. 204.58 crores (2020: Rs. 251.80 crores) and Rs. 28.21 crores (2020: Rs. 40.80 crores) respectively. $ Break-up of expected credit loss recognised during the year is as follows :- Rupees crores Particulars 2021 2020 Expected credit loss on: – Trade receivables............................................................................................................................................... 96.93 188.97 – Contract assets. ................................................................................................................................................. 0.70 1.92 – Financial services receivables. .......................................................................................................................... 4,017.37 2,323.89 – Other financial assets. ...................................................................................................................................... 24.62 18.58 Total ............................................................................................................................................................................ 4,139.62 2,533.36