MAHINDRA & MAHINDRA LTD. Consolidated Accounts 391 20. Borrowings (Continued) Rupees crores Particulars 2025 2024 (ii) Current maturities of long-term borrowing Secured (Measured at amortised cost): Debentures & bonds...................................................................................................................................................................................................... 6,964.38 4,587.10 Term loan (i) From banks.............................................................................................................................................................................................................. 23,022.40 16,277.93 (ii) From other parties............................................................................................................................................................................................. 87.34 8.34 30,074.12 20,873.37 Unsecured (Measured at amortised cost): Debentures & bonds...................................................................................................................................................................................................... 909.24 1,082.77 Term loan (i) From banks.............................................................................................................................................................................................................. 23.62 665.51 (ii) From other parties ........................................................................................................................................................................................... — 75.01 Deposits.................................................................................................................................................................................................................................. 2,265.67 1,757.22 Other loans........................................................................................................................................................................................................................... — 100.02 3,198.53 3,680.53 Total .................................................................................................................................................................................................................................................... 33,272.65 24,553.90 Grand Total .................................................................................................................................................................................................................................... 41,465.76 35,483.54 Secured borrowings are secured by a pari-passu charge on immovable properties, both present and future of certain entities in the Group, subject to certain exclusions and are also secured by pari-passu charge on the movable properties of certain entities including inventories, movable machinery, machinery spares, tools and accessories, both present and future, subject to certain exclusions. For Financial Services business, secured borrowings are secured by exclusive charges on receivables under loan contracts. C. Reconciliation of movement in borrowings and lease liabilities to cash flow from financing activities Rupees crores Particulars 2025 2024 Opening balance – Long term borrowings........................................................................................................................................................................................................... 67,719.69 55,027.39 – Non Current lease liabilities.............................................................................................................................................................................................. 2,813.92 2,882.50 – Short term borrowings......................................................................................................................................................................................................... 35,483.54 33,739.62 – Current lease liabilities......................................................................................................................................................................................................... 608.37 597.34 – Unclaimed matured deposits............................................................................................................................................................................................ 4.38 4.88 1,06,629.90 92,251.73 Cash flow movements – Proceeds from borrowings................................................................................................................................................................................................. 82,589.64 61,307.84 – Repayment of borrowings.................................................................................................................................................................................................. (64,227.06) (46,443.19) – Net increase in loans repayable on demand and cash credit ................................................................................................................. (462.16) (362.03) – Repayment of lease liabilities ........................................................................................................................................................................................ (887.11) (785.50) 17,013.31 13,717.12 Non-cash movements – Addition to lease liabilities during the year ......................................................................................................................................................... 1,017.89 658.86 – On account of acquisition/(disposal) of subsidiaries (net) ......................................................................................................................... — 28.96 – Other adjustments................................................................................................................................................................................................................... 165.21 81.07 – Effect of amortisation of loan origination costs and foreign exchange translation................................................................. 126.83 (107.84) 1,309.93 661.05 Closing balance – Long term borrowings........................................................................................................................................................................................................... 79,707.19 67,719.69 – Non Current lease liabilities.............................................................................................................................................................................................. 3,170.14 2,813.92 – Short term borrowings......................................................................................................................................................................................................... 41,465.76 35,483.54 – Current lease liabilities......................................................................................................................................................................................................... 606.22 608.37 – Unclaimed matured deposits............................................................................................................................................................................................ 3.83 4.38 Total...................................................................................................................................................................................................................................................... 1,24,953.14 1,06,629.90 Refer note 39(d)(i) for reconciliation of movement in Compulsorily convertible preference shares
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