Amal Ltd 2020-21

Amal Ltd | Annual Report 2020-21 b) Retained earnings Retained earnings are the profits that the Company has earned till date, any transfers from or to other comprehensive income, dividends or other distributions paid to shareholders. c) Other reserve As per Modified Sanction Scheme MS-10 and MS-13 approved by the Board of Industrial Finance and Reconstruction, the Company had issued 0% redeemable and non-convertible preference shares of ` 1,000 lakhs to Atul Ltd promoter and received interest free secured loan of ` 1,128.89 lakhs and interest free unsecured loan of ` 539.58 lakhs from Atul Ltd. These financial liabilities are measured at amortised cost and the initial fair value difference is recognised as capital contribution from Atul Ltd. ( ` lakhs) Note 11 Borrowings at amortised cost As at March 31, 2021 As at March 31, 2020 Current 1 Non-current Current 1 Non-current a) 40,00,000 (March 31, 2020: 60,00,000) 0% redeemable and non-convertible preference shares of ` 10 each {refer Note (iii), (iv) and (v) below and also refer Note 25.3} 148.55 172.37 128.02 320.92 148.55 172.37 128.02 320.92 1 Current maturities of long-term debt grouped under other financial liabilities {refer Note 12(e)} Notes: i) Terms | rights attached to preference shares The Company has only one class of 0% redeemable and non-convertible preference shares having a par value of ` 10 per share. These shares are redeemable at par over a period of seven years, starting ` 100 lakhs every year from financial year 2016-17 to 2019-20 and ` 200 lakhs every year from financial year 2020-21 to 2022-23. ii) Preference share capital ( ` lakhs) (a) Details of preference share capital: As at March 31, 2021 As at March 31, 2020 Authorised 1,00,00,000 (March31, 2020: 1,00,00,000) 0%redeemable and non-convertible preference shares of ` 10 each 1,000 1,000 Issued, subscribed and fully paid-up 40,00,000 (March 31, 2020: 60,00,000) 0% redeemable and non-convertible preference shares of ` 10 each 400 600 Note 10 Other equity (continued)