Page 288 - BCML AR 2019-20

FINANCIAL STATEMENTS

Notes forming part of the Consolidated Financial Statements

Note No. : 37 Other disclosures (Contd.)

8. The Company is eligible to receive various financial assistance from government authorities. Accordingly, the Company has
recognised these government grants in the following manner:
(` in Lacs)
Sl. Particulars Treatment in Accounts Year Year
No. ended 31st ended 31st
March, 2020 March, 2019
(i) Grants related to Income
Revenue related Government Grants:
(a) Pradhan Mantri Rojgar Protsahan Yojana Deducted from Contribution to provident and 24.93 33.91
(PMRPY) Plan Scheme other funds under Employee benefits expense
(Refer footnote (i) below)
(b) Cane purchase subsidy Deducted from cost of materials consumed – 4930.98
(Refer footnote (ii) below)
(c) Cane crush subsidy Deducted from cost of materials consumed 1901.33 12722.14
(Refer footnote (iii) and (iv) below)
(d) Defraying expenditure towards internal (i) Deducted from Miscellaneous expenses 1.77 4194.75
transport, freight, handling and other under Other Expenses
charges on export
(Refer footnote (v) and (vi) below) (ii) Shown as separate line item "Re- 90.11 593.88
imbursement of transportation expenses for
export" under Revenue from operations
(e) Towards marketing costs including Shown as separate line item "Export incentive 27225.08 –
handling, upgrading and other processing and assistance" under Revenue from Operations
costs and costs of international and
internal transport and freight charges on
export of sugar (Refer footnote (vii) below)
(f) Financial support for maintaining buffer (i) Shown as separate line item "Insurance 555.70 360.57
stock of sugar inventory and storage charges on buffer stock" under
(Refer footnote (viii) below) Revenue from Operations
(ii) Deducted from interest expense on short
term borrowings
3197.75 2053.01
(g) Interest on term loans (i) Deducted from interest expense on long 125.98 637.71
(Refer footnote (ix) (x) (xi) (xii) below) term borrowings
(Refer footnote (ix) below) (ii) Deducted from interest expense on long 20.47 –
term borrowings capitalised
(Refer footnote (xii) below) (iii) Deducted from interest expense on short
term borrowings 2683.67 29.74
35826.79 25556.69
Amortization of Government Grants:
(h) Government grant relating to interest on Deducted from interest expense on long term 1190.38 410.41
term loans (Refer footnote (xiii) below) borrowings
(i) Government grant relating to property, Shown as separate line item "Deferred income" – 14.17
plant and equipment under Other Income
1190.38 424.58
(ii) Grants related to Assets
Government grant relating to property, Adjusted with carrying amount of property, plant - 1.83
plant and equipment and equipment
- 1.83
37017.17 25983.10

286 | Balrampur Chini Mills Limited