AGS Transact Technologies Limited
Annexure VI: Notes to the Revised Restated Consolidated Financial Information
Note 47

Capital management

‘The Group's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The primary objective of the Group's Capital
“Management is to maximise shareholders value.
‘The Board of Directors seeks to maintain a balance between the higher returns that might be passible with higher levels of borrowing and the advantages and security afforded by a sound capital position.

‘The Group monitors capital using a rato of adjusted net debt to total equity. For this purpose, adjusted net debt is defined as total liabilities comprising interest-bearing borrowings (Including Non Convertible Debentures)
and lease liabilities, less cash, cash equivalents, other bank balances, non-current margin money and) Investment in Quoted Mutual Funds and current investment. Total equity comprises of all components of equity.

"The Group's adjusted net debt to equity ratio is as follows:
(Rs. in million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Particulars BL August 2021] 31 March 2021 31March 2020] 31 March 2019]
Non-carrent borrowings 8887.18 e683 348881 321661
[Current borrowings 3,549.16 3,668.20 3,300.07 2,859.09
Non-curren lease liabilities 2,744.78 258751 3,281.88 3,506.46,
Curren lease liabilities 1,363.85, 1,305.87, 1519.41 1,410.87
Gross debt 16,544.97 16,223.41 11,590.17 11,053.03
Less : Cash, cash equivalents and other bank balances (909.83) (6,942.10) (738.80) (381.08)
Less : Margin money (non-current) (227.12) (211.80) 31.11) (40.49)|
Less - Investment in Quoted Mutual Funds (98.28) (98.3) : -

Less - Current Investment (6,500.00) : :

[Adjusted net debt 8,809.74 8972.60, 10,600.26 10,631.48
[Total equity Sagas 550662 490955 A294
[Adjusted net debt to equity ratio Tez iat za 250

 

“The Group has provided the definitions of adjusted net debt and ‘otal equity because they are aiemative performance measures and are not defined in Ind AS,

Following the adoption of Ind AS 116 - Leases, adjusted net debt to equity rato has increased due to inclusion of lease liabilities,
"The Group raised funds from outside India amounting to USD 25 million under External Commercial Borrowings (ECB) in accordance with the approval granted by Reserve Bank of India under automatic route and is in
conformity withthe applicable ECB Guidelines. The tenure of the facility is 4 years

During the year ended 31 March 2021, the Group had issued 12% rated, secured, Non Convertible Debentures ("NCD") on a private placement basis aggregating Rs. 5,500 million. The Debentures ae listed on National
Stock Exchange as at 26 March 2021. The tenure of the NCDs is 6 year.

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