AGS Transact Technologies Limited

Annexure VI: Notes to the Revised Restated Consolidated Financial Information

 

Note 37

Leases (continued)
The table below provides details of amounts recognised in the Revised Restated Consolidated Statement of Profit and Loss
(Rs, in million)

 

 

 

Particulars 31 August 2021 3H March 2021 ‘31 March 2020 31 March 2019
Depreciation on Right-of-use assets 435.74 1,119.26 1,087.76 7123
Interest on lease liabilities 181.50 465.17 522.23 543.98
Expenses related to short term leases and leases not covered under Ind AS 116 42.20 169.28 212.98 262.24
‘Write back of lease liabilities (net) (14.68) (139.79) (5458) (0.16)
644.76, 1,613.92, 1,768.39, 1,777.29,

 

 

The Group does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due.

 

 

Particulars ‘31 August 2021 31 March 2021 31 March 2020 ‘31 March 2019
Weighted average incremental borrowing rate applied to lease liabilities 6.80% - 10.07% 9.08% - 10.00% | 9.17% - 13.10% 9.17% - 13.10%
The average tenure of leases covered under Ind AS 116 1-9 years 1-9 years 1.9 years 1-9 years

The outflow on account of lease liabilities for the petiod ended 31 August 2021 is Rs. 616.21 million (31 March 2021: Rs. 1,499.24 million, 31 March 2020 Rs. 1,496.82 million, 31 March 2019 Rs. 1,384.50
milion)

The Group has elected to apply the practical expedient of not assessing the rent concessions as a lease modification, as pet MCA notification dated July 24, 2020 on IND AS 116 for rent concessions which are
granted due to COVID-19 pandemic. Total rent concession recorded during the period ended 31 August 2021 amounted to Rs. Nil (31 March 2021: Rs, 37.90 million, 31 March 2020: Nil, 31 March 2019: Nil)
has been recognised in other income.

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