20 - CURRENT BORROWINGS

Working Capital Borrowings from Banks

(a)

Secured

54.25

170.59

(b)

Unsecured

123.30

13.83

(i) Working Capital borrowings from banks represent Cash Credit, Working Capital Demand Loan, Export Packing Credit with rate of interest as MCLR of respective banks plus spread ranging from 0% -1.25% p.a., Packing Credit in Foreign Currency, Buyers' Credit against Letter of Undertaking with rate of interest ranging from LIBOR/EURIBOR plus spread ranging from 0.50% p.a. to 1.30% p.a. These borrowings are repayable on demand.

(ii)Working Capital borrowings are secured by way of first Hypothecation charge over Company's Raw Materials, Semi-Finished and Finished Goods, Consumable Stores and Book Debts and second charge on all Property, Plant & Equipment by way of hypothecation and mortgage.

(iii) Commercial Paper placed by the Company during the year are unsecured and carries interest rate ranging from 5.70% p.a. to 6.50% p.a., tenure of each placement ranging from 81 days to 90 days. The outstanding Commercial Papers (listed) of the Company as on March 31, 2020 have maturity value of ₹ 125 crore.