171 (` lakhs) Contractual maturities of financial liabilities as at March 31, 2021 Less than 1 year More than 1 year Total Borrowings 200.00 444.13 644.13 Capital creditors 339.92 - 339.92 Trade payables 314.80 - 314.80 Lease liability - 0.87 0.87 Security deposits payable 19.51 - 19.51 Employee benefits payable 17.97 - 17.97 c) Market risk i) Cash flow and fair value interest rate risk Maturity analysis of financial liabilities of the Group is based on contractually agreed undiscounted cash flows as at the Balance Sheet date: Borrowings of the Company from the Atul Ltd (holding company) and have a fixed rate borrowings that is 0% and are carried at amortised cost. They are therefore not subject to interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates. Borrowings of the Company from Axis Bank Ltd and is mainly exposed to interest rate risk due to its variable interest rate borrowings. The interest rate risk arises due to uncertainties about the future market interest rate of these borrowings. As an estimation of the approximate impact of the interest rate risk, with respect to financial instruments, the Group has calculated the impact of a 25 bps change in interest rates. A 25 bps increase in interest rates might have led to approximately an additional impact of ` 12.33 lakhs (2020-21: ` 0.61 lakhs). A 25 bps decrease in interest rates might have led to an equal but opposite effect. ii) Price risk Exposure The Group is mainly exposed to the price risk due to its investments inmutual funds. The price risk arises due to uncertainties about the future market values of these investments. In order to manage its price risk arising from investments in equity instruments, the Group maintains its portfolio in accordance with the framework set by the risk management policies. Sensitivity (` lakhs) Particulars Impact in the Consolidated Statement of Profit and Loss March 31, 2022 March 31, 2021 Price increase by 10%* - 191.17 Price decrease by 10%* - (191.17) *Ceteris paribus Note 26.7 Financial risk management (continued)
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