173 Corporate Overview Performance Overview Financial Statements Governance Overview Statutory Reports Nature and purpose of reserves a) Securities premium Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013. b) Retained earnings Retained earnings are the profits that the Company has earned till date, less, any transfers to general reserve, 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 lakh to Atul Ltd (promoter) and received interest free secured loan of ` 1,128.89 lakh and interest free unsecured loan of ` 539.58 lakh 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. (` lakh) Note 12 Borrowings As at March 31, 2025 As at March 31, 2024 Non-current Current Non-current Current a) Term loan from Axis Bank secured - - 1,500.00 - b) Working capital loan from Axis Bank secured - - - 421.41 c) Rupee term loan from related party - - 450.00 - - - 1,950.00 421.41 Amount of current maturities of long-term debt disclosed under the head ‘short-term borrowing’ - - (100.00) 100.00 - - 1,850.00 521.41 Notes: i) Security a) The secured loan is secured by the whole immovable and movable properties including machinery, machinery spares, tools and accessories, inventory and other movable assets both present and future. b) Corporate Guarantee given by Amal Ltd. c) Quarterly statement of current assets filed with banks during the year are in agreement with the books of accounts. Note 11 Other equity (continued)
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