MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

244 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS b) Short Term Borrowings Rupees crores Particulars 2022 2021 Secured (Carried at Amortised Cost): Term Loan from Banks....................................................................................................................................... — 24.74 Loans and Advances on cash credit account from Banks .............................................................................. — 7.61 Other Loan from Bank . .................................................................................................................................... — 61.90 Unsecured (Carried at Amortised Cost): Loan from Related party .................................................................................................................................. — 50.00 Commercial Papers ............................................................................................................................................ 496.48 — Current maturities of long term borrowings . ................................................................................................ 315.45 528.25 Total Short Term Borrowings ............................................................................................................................ 811.93 672.50 Secured term loan from Banks are secured by lien on non-callable Fixed Deposits of equivalent amount. The Company has also availed working capital facilities and other non-fund based facilities viz. bank guarantees and letters of credit, which are secured by hypothecation of inventories. Loan from related parties and Other Loan from Banks (includes working capital loan) carrying fixed interest rate ranging from 5.50% p.a to 9.00% p.a., repayable within a year from the date of availment of loan. Reconciliation of movement in borrowings to cash flows from financing activities Rupees crores Particulars 2022 2021 Opening balance – Long Term Borrowings.................................................................................................................................... 6,989.84 1,963.23 – Short Term Borrowings................................................................................................................................... 672.50 994.88 – Unclaimed matured Deposits......................................................................................................................... 0.09 0.10 Total Opening Balance ....................................................................................................................................... 7,662.43 2,958.21 a) Acquisitions through business combinations [Refer note 44 (B)] . ....................................................... — 413.34 b) Cash flow movements – Proceeds from borrowings..................................................................................................................... 966.61 9,230.97 – Repayment of borrowings..................................................................................................................... (2,233.75) (4,958.71) (1,267.14) 4,272.26 c) Non-cash movements – Effect of amortisation of loan origination costs. ................................................................................ 19.05 3.97 – Foreign exchange translation................................................................................................................ 3.93 14.65 – Forward contract adjustment................................................................................................................ 71.75 — 94.73 18.62 Closing Balance – Long Term Borrowings.................................................................................................................................... 5,678.02 6,989.84 – Short Term Borrowings (other than loans repayable on demand). ........................................................... 811.93 672.50 – Unclaimed matured Deposits......................................................................................................................... 0.07 0.09 Total Closing Balance ......................................................................................................................................... 6,490.02 7,662.43 18. Borrowings (contd.)