Page 263 - Tata_Chemicals_yearly-reports-2020-2021

Integrated Report Statutory Reports Financial Statements
1-59 60-146 Consolidated

(2020: ` 3.00 crore) has been grouped in note 20 within current maturities of non-current borrowings under Other financial
liabilities (current), which are payable in next 12 months.
(iv) Debt owed by Tata Chemicals Magadi Limited ('TCML'):
The outstanding loan as at the year end is ` 350.94 crore (USD 48 million) (2020: ` 363.19 crore (USD 48 million)) of which
` 116.98 crore (2020: Nil) ((USD 16 million (2020: USD Nil) has been grouped in note 20 within current maturities of non-current
borrowings under Other financial liabilities (current). The loan is repayable in instalments commencing July 2021 and ending
January 2024. Interest on this loan is payable, every six months i.e. in January and July, based on 6 months USD LIBOR plus a
margin of 1.80% per annum.
(v) Debt owed by Tata Chemicals International Pte. Limited ('TCIPL'):
The outstanding loan as at March 31, 2021 is ` 1,462.20 crore (2020: ` 1,513.30 crore) (USD 200 million (2020: USD 200 million)).
The loan bear an effective interest rate of 3.91% (2020: 3.81%). The loan is repayable in full on December 12, 2022.
(vi) Debt owed by Valley Holdings Inc. ('VHI'):
The Bridge loan of ` 731.10 crore (2020: ` Nil) (USD 100 Million (2020: USD Nil) is unsecured and is repayable in full on December
19, 2021 and the same has been disclosed in note 20 within the heading current maturity of long term debt under other
financial liabilities (current). The applicable margin on the Bridge loan is 3.35% per annum on LIBOR borrowings.
(d) Debt owed by Rallis:
Term loan from Council of Scientific and Industrial Research: The balance payable as on March 31, 2021 is ` 0.08 crore (2020: ` 0.42
crore), out of which ` 0.08 crore (2020: ` Nil) has been disclosed in note 20 within the heading current maturity of long term debt
under other financial liabilities (current). The same is repayable alongwith interest in 7 annual installments. The loan bears interest of
3% per annum.
(e) Debt owed by Rallis:
Sales Tax Deferral Scheme: The loan is repayable in annual installments which range from a maximum of ` 1.13 crore to a minimum of
` 0.15 crore over the period stretching from April 1, 2020 to March 31, 2027. The amount outstanding is free of interest. The balance
outstanding as at March 31, 2021 is ` 5.31 crore (2020: ` 5.54 crore), out of which ` 0.63 crore (2020: ` 0.31 crore) has been disclosed
in note 20 within the heading current maturity of long term debt under other financial liabilities (current).
(f) Debt owed by Rallis:
Bank overdrafts and cash credit facility ` 0.05 (2020: ` 24.12 crore) are secured by first pari passu charge on inventories (including raw
material, finished goods and work-in-progress) and book debts.
(g) (i) Debt owed by TCML:
Outstanding loan of ` 14.21 crore (2020: ` 17.38 crore)(2021: USD 1.94 million and 2020: USD 2.3 million). It is a secured overdraft
facility against dues receivable from Kenyan Revenue Authority. The rate of interest for this borrowing is 8.08% per annum.
(ii) Debt owed by Rallis India Limited:
Loan of ` 30.00 crore (2020: ` 25.50 crore) is secured by first pari passu charge on stock (including raw material, finished goods
and work-in-progress) and book debts and carries a weighted average interest of 7.12 % per annum (2020: 8.50% per annum).
(h) Term loan of VHI, comprised of a ` Nil (2020: ` 1,324.14 crore) (USD Nil (2020: USD 175 million) term loan ('Bridge loan')
The Bridge loan is unsecured and has been repaid in full in June 2020. The effective interest rate for the year ended March 31, 2020
was ranging from 2.94% to 3.19%.
(i) Debt owed by TCIPL:
` 204.71 crore (June 2020: ` 378.33 crore)(2021: USD 28 million and 2020: USD 50 million) is towards unsecured working capital
facility and is repayable within 90 days (2020: 90 days). Interest is charged at 0.80% to 2.62% (2020: 1.39% to 3.99%) per annum.
(j) Suppliers' credit:
Unsecured Supplier's credit repayable on demand bears interest ranging from 1.13 % to 2.49 % per annum (2020: 1.91 % to 3.14 %
per annum)

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