Statutory Reports
Corporate Overview
69th Annual Report 2013-14
142
Financial Statements
(Standalone)
NOTES FORMING PART OF FINANCIAL STATEMENTS
I.
Information regarding long term borrowings
(i) Nature of security (on loans including interest accrued thereon) :
(a)
During the year 2009-10, the Company issued 2% secured non-convertible credit enhanced rupee debentures in four tranches, having tenor
upto seven years, aggregating
`
4,200 crores on a private placement basis. These are secured by a second charge in favour of Vijaya Bank,
Debenture Trustee and first ranking pari passu charge in favour of State Bank of India as security trustee on behalf of the guarantors, by way
of English mortgage of the Company’s lands, freehold and leasehold, together with all buildings, constructions and immovable and movable
properties situated at Chinchwad, Pimpri, Chikhali and Maval in Pune District and plant and machinery and other movable assets situated at
Pantnagar in the State of Uttarakhand and at Jamshedpur in the state of Jharkhand. As at March 31, 2014, the outstanding is
`
1,250 crores.
(b)
Rated, Listed, Secured, 9.95%Coupon, Non-Convertible Debentures amounting to
`
200 crores and 10.25%Coupon, Non-Convertible Debentures
amounting to
`
500 crores are secured by a pari passu charge by way of an English mortgage of the Company’s freehold land together with
immovable properties, plant and machinery and other movable assets (excluding stock and book debts) situated at Sanand in the State
of Gujarat.
(c)
Buyers line of credit from banks are secured by hypothecation of existing current assets of the Company viz. stock of raw materials, stock in
process, semi-finished goods, stores and spares not relating to plant and machinery (consumable stores and spares), bills receivable and book
debts including receivable from hire purchase / leasing and all other moveable current assets except cash and bank balances, loans and
advances of the Company both present and future.
(d)
The term loan is due for repayment from the quarter ending March 31, 2033 to quarter ending March 31, 2034, along with simple interest at the
rate of 0.10 % p.a. The loan is secured by a second and subservient charge (creation of charge is under process) over Company’s freehold land
together with immovable properties, plant and machinery and other movable assets (excluding stock and book debts) situated at Sanand plant
in the State of Gujarat.
(ii) Schedule of repayment and redemption for Non-Convertible Debentures :
(
`
in crores)
Non Convertible Debentures (NCDs)
Redeemable on Principal
Premium Total
(a)
Secured :
10.25% Non-Convertible Debentures (2025) #
April 30, 2025
150.00
-
150.00
10.25% Non-Convertible Debentures (2024) #
April 30, 2024
150.00
-
150.00
10.25% Non-Convertible Debentures (2023) #
April 30, 2023
100.00
-
100.00
10.25% Non-Convertible Debentures (2022) #
April 30, 2022
100.00
-
100.00
9.95% Non-Convertible Debentures (2020)
March 2, 2020
200.00
-
200.00
2% Non-Convertible Debentures (2016)
March 31, 2016
1,250.00
919.23
2,169.23
# The Company has a call option to redeem, either in part or full, at the end of 8th year from the date of allotment i.e. April 30, 2018.
(b)
Unsecured :
9.70% Non-Convertible Debentures (2020)
June 18, 2020
150.00
-
150.00
9.75% Non-Convertible Debentures (2020)
May 24, 2020
100.00
-
100.00
9.90% Non-Convertible Debentures (2020)
May 7, 2020
150.00
-
150.00
10.00% Non-Convertible Debentures (2019)
May 28, 2019
250.00
-
250.00
9.69% Non-Convertible Debentures (2019)
March 29, 2019
200.00
-
200.00
10.30% Non-Convertible Debentures (2018)
November 30, 2018
200.00
-
200.00
9.45% Non-Convertible Debentures (2018)
March 29, 2018
200.00
-
200.00
10.00% Non-Convertible Debentures (2017)
May 26, 2017
250.00
-
250.00
9.84% Non-Convertible Debentures (2017)
March 10, 2017
300.00
-
300.00
8.73% Non-Convertible Debentures (2016)
May 17, 2016
300.00
-
300.00
8.95% Non-Convertible Debentures (2016)
April 29, 2016
300.00
-
300.00
9.22% Non-Convertible Debentures (2015)
December 1, 2015
300.00
-
300.00
9.05% Non-Convertible Debentures (2015)
October 30, 2015
300.00
-
300.00
9.15% Non-Convertible Debentures (2015)
June 3, 2015
300.00
-
300.00
9.85% Non-Convertible Debentures (2015) *
March 30, 2015
300.00
-
300.00
* Classified as current liabilities being maturity before March 31, 2015
(iii)
The buyers’ line of credit from banks is repayable within a maximum period of three years from the drawdown dates. All the repayments are due from
financial year ending March 31, 2015 to financial year ending March 31, 2017.
