Investor Presentaiton
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2023
h.
(i)
Revenue expenditure on Research and Development activities during the year ended 31st March, 2023:
(Crores)
Particulars
Salaries Wages and Other Benefits
Repairs, and Maintenance
Year Ended 31.03.2023
Year Ended 31.03.2022
1)
2)
3)
Power
4)
Travelling and Vehicle Running
5)
Cost of Materials/Tyres used for Rallies / Test Purpose
47.87
43.19
15.43
15.63
10.13
7.81
4.03
2.48
16.23
11.36
16.23
15.15
109.92
95.62
(ii)
6) Other Research and Development Expenses
Capital Expenditure on Research and Development during the year, as certified by the management is 25.15 Crores (Previous year - 6.71 Crores).
This information complies with the terms of the Research and Development recognition granted upto 31st March, 2024 for the Company's in-house
Research and Development activities by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of
India, vide their Letter No.TU/IV-RD/118/2021 dated 20th October, 2021.
Terms of Repayment and Security Description of Borrowings: (refer note 11)
Current Borrowings
i.
a)
i)
Loans repayable on demand from banks are secured by hypothecation of Inventories and book debts, equivalent to the outstanding amount
and carries interest rates at the rate of 4.00% to 7.90% (Previous year 3.8% to 6.85%).
Quarterly returns or statements of current assets filed by the Company with the banks in connection with the working capital limit sanctioned
are in agreement with the books of accounts.
Non Current Borrowings
b)
i)
Indian Rupee Term Loan (Unsecured) from the HSBC Bank
a)
b)
Indian Rupee Term Loan of 150 Crores availed in February, 2019 is for capital expenditure. Interest is payable at a rate equal to
the three months T-Bill rate plus a margin of 1.49% (Previous year- 1.49%) payable monthly. The said Loan is repayable in one full
installment in Febuary, 2024.
Indian Rupee Term Loan of 150 Crores availed in July, 2021 is for capital expenditure. Interest is payable at a rate equal to the three
months T-Bill rate plus a margin of 1.33% payable monthly. The said Loan is repayable in three equal annual installment in July, 2025/
July 2026/July 2027.
Indian Rupee Term Loan (Unsecured) from the HDFC Bank.
ii)
a)
iii)
b)
Indian Rupee Term Loan of 300 Crores availed in June, 2020 is for capital expenditure. Interest is payable at a rate equal to repo rate
plus a margin of 1.70% payable monthly. The said Loan is repayable in three equal annual installment in June, 2024/June 2025/June
2026.
Indian Rupee Term Loan of 150 Crores availed in June, 2021 is for capital expenditure. Interest is payable at a rate equal to repo rate
plus a margin of 0.75% payable monthly. The said Loan is repayable in three equal annual installment in June, 2025/June 2026/June
2027.
15,000 [Floating Interest rate linked to 6 months T-Bill rate] Listed Unsecured rated redeemable Taxable Non-Convertible Debentures of
1,00,000/- each aggregating to 150 Crore issued on 24th February 2023, are to be redeemed on 24th February, 2026.
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