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

 

Note 17 (a)
Non-current financial liabilities - Borrowings

(Rs. in milion)

BH August 202 ‘Bi March 202131 March 2020, ‘31 March 2019

Term loans - Secured (Refer note (a),(b) and (c) below)
Borrowings In India

Foreign currency term loan from banks (refer note (0), (x), (xvi), (xx), (xxvil) and (exvil) below) 9752 209.76 293,51
Indian rupee term loan from banks (refer note (i, (il), (x), (x), (Xd), (8X) and (xxix) below) 1,538.78 2,198.11 1,976.97
Indian rupee vehicle loan from banks (refer note (iv), (xi) and (xxi), and (xxx) below) 361.75 388.91 110.76
Indian rupee vehicle loan from others (refer note (¥, (xiv) and (xxlv) and (xxx!) below) 280.17 302.53 207.01
Indian rupee term loan from others (reler note (vi), (vl), (8v), (v1), (xv), (xv), (xi, (vil) and (sex) below) 429.86 389.50 628.36

3488.81 oI

   

Borrowings Outside India
Term loan from banks ( ECB ) (refer note (vil) and (xvii) below) 494.77

484.77 : =
Non convertible Debentures (Refer note (a)(b) and (c) below)
5,500 (31 March 2021 : 5,500, 31 March 2020: Nil, 41 March 2019: Nil) Non convertible Debentures of face value é isis .
‘of Rs.10,00,000/- each (refer not (Ix) and (xix) below) i -

   

 

Notes:
‘As at 31 August 2021, 31 March 2021, 31 March 2020 and 31 March 2019

(@) There ate no material breaches of the cavenants associated with the borrowings (refer to above) and none of the borrowings were called back during the period / year

(©) The Group has used the borrowings from banks and financial institutions forthe specific purpose for which it was taken at the balance sheet date

(©) The Group has availed borrowings from banks or financial institutions on the basis of security of current assets. The Group is required to file periodic returns with banks and financial institutions, including those
related to current asses, The retums are based on unaudited financial information extacted from the books and records of the Group as adjusted for certain quarterly closing ents. The differences between the
returns and the adjusted financial information are not material

As at 31 August 2021:
(@) Foreign currency term loan from bank carry an interest rate of 6.01% p.a. to 7.26% p.a. The loans are repayable as per the amortisation schedule spread over from 15 months to 42 months. Loans are secured by
charge on specific assets comprising of ATMS, specific receivables and other related equipments of assigned contract.

(W Indian eupee term loan from banks carry an interest rate inthe range of 7.95% p.a. o 10.20% p.a. The loans are repayable as per the balance amortisation schedule spread over from & months to 53 months. Loans
are secured by charge on specific assets comprising of ATMS, specific receivables and other related equipments of assigned contract. Further, few of the term loans from banks availed by one of the subsidiary
‘company are secured by way of second charge on the vehicles funded by respective lenders

(Ui) One Indian rupee term loan from banks carry an interest rate of 9.08% p.a. The loans is repayable as per the balance amortisation schedule spread over 30 months. Loans are secured by charge on specific assets
comprising of building, ATMS, specific receivables and other related equipments of assigned contract.

(iv) Indian eupee vehicle loan from banks for purchase of vehicles cartes arate of interest in the range of 8.25% to 9.80% p.a. The loans have repayment year in range of 3 to 57 months. The loans are secured by a
hhypothecation of the vehicles. Further, few of the vehicle loan availed by one of the subsidiary company is secured by way af corporate guarantee given by the parent company.

(¥) Indian rupee vehicle loan from others for purchase of vehicles carries arate of interest inthe range of 8.00% to 9.15% p.a. The loans have repayment year in range of 19 10 66 months. The loans are secured by a
bhypothecation of the vehicles.

(i) Indian rupee term loan from others carry an interest rate in the range of 9.25% p.a, to 14.00% p.a. The loans are repayable as per the amortisation schedule spread over from 4 months to 53 months. Loans are
secured by charge on specific assets comprising of ATMSs, specific receivables and other related equipments of assigned contract Further, one of the term loans from others availed by one of the subsidiary company is
secured by way of second charge on the vehicles funded by respective lenders and one of the term loan from others availed by one of the subsidiary company is secured by hypothecation of plant and machinery and
corporate guarantee glven by the Parent Company

(vi) One Indian rupee term loan from others carry an interest rate of 11.25% p.a. The loans are repayable as per the balance amortisation schedule spread over 8 months. Loans are secured by charge on specific assets
‘comprising of land and building, ATMs, specific receivables and other related equipments of assigned conteact.

(vill) Loan in the form of External Commercial Borrowings (ECB) from banks outside India carry an interest rate in the range of 1 month USD LIBOR plus 360 bps to 400 bps. The loans are repayable as per the
balance amortization schedule spread over 37 to 48 months. Loans are secured by charge on specific assets comprising of ATMs and specific receivables.

(Ga) The Company has issued 12% rated, secured, Non Convertible Debentures ("NCD")on a private placement basis during the year 31 March 2021. The Debentures ate listed on National Stock Exchange as at 26
‘March 2021.

Details of the NCDs are as follows:

 

‘Number of| JAmount (Rs. in [Period of maturity

 

 

 

IName of security NCD. [Dateot Issue |Terms of Repayment eines) Interest rate irom Balance sheet
ldate
[Non Convertible Debentures | 5,500 | 26-Mar-21 [Coupon Payment - Monthly 7500 [Coupon Rate: 12%6pa, |S years 7 mons
Principal repayment - p.m. (fixed)
Year 3: 26%
Year 4: 20% IRR: 18.75% pa.
Year 5: 30%

Year 6: 24% (subject to any
prepayment being done prior to
Year 6 from the Pay-in Date)

 

 

 

 

 

 

 

 

Security deta
{an exclusive charge by way of hypothecation over the recelvables under specified Charged Contracts with Identified customers as defined under Debenture Trust Deed;

2. an exclusive charge by way of hypothecation on 2,047 ATMs under specified ATM Charged Contracts;

3. first ranking charge by way of hypothecation on security deposit and termination amount recaverable under the Charged Contacts

4. a second ranking charge by way of hypothecation on all the current assets (other than the current assets exclusively charged to the Existing Lenders) and movable

5. second ranking mortgage over all the identified immovable properties as included in Property, Plant and Equipment;

6.an exclusive charge over the AGS Escrow Account, Debt Service Reserve Account as defined under Debenture Trust Deed; and

7. Personal Guarantee of Mr, Ravi B Goyal.

£8. The security creation and perfection isin process.

9. The Company is required to maintain security as per clause 12 of the Debenture Trust Deed which is based on current and furure wade receivables for the charged contract assets along with specified assets. The
‘Company have maintained an amount of Rs. 65.30 million in Debt Service Reserve Account to maintain the specified security

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