payment towards lease liability of = 167.31 million and net proceeds from short-term borrowings of % 1,094.51
million.

Net cash used in financing activities in Fiscal 2019 was = 182.34 million, primarily consisting of proceeds from
long-term borrowings of 2 4,215.87 million availed for capital expenditure, repayment of long-term borrowings
of 2 1,555.39 million, repayments to short term borrowings of % 1,411.53 million, principal payment towards lease
liability of = 121.70 million, interest paid of = 1,297.50 million (including interest of lease liability) and dividends
paid of 2 12.10 million.

Net cash used in financing activities in Fiscal 2018 was % 603.12 million, primarily consisting of proceeds from
long-term borrowings of 2 1,444.97 million availed for capital expenditure, repayment of long-term borrowings
of = 1,291.10 million, net proceeds from short-term borrowings of % 469.45 million, interest paid of = 1,133.15
million (including interest of lease liability), principal payment towards lease liability of = 86.33 million and
dividends paid of % 6.96 million.

Capital Expenditure

Our historical capital expenditures were, and we expect our future capital expenditures to be, primarily for
investments in property, plant and equipment for our manufacturing facilities and other intangible assets. We have
undertaken significant capital expenditure in the earlier years of our business, with a view to further enhance our
machining and manufacturing capacities to meet the growing demand for our Automotive - Powertrain and Others
and Automotive — Aluminium products from our customers and to expand into newer segments such as our storage
solutions business, based on revenue visibility.

For the nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018, our capital expenditure aggregated
to 507.29 million, = 1,206.01 million, = 4,559.86 million and % 1,811.24 million, respectively, used to modernize
and upgrade our manufacturing facilities, infrastructure, machines, equipment and technology to allow us to offer
a diverse product suite, reduce operating costs and drive productivity.

As of the nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018, the Gross Block was =
22,307.42 million, = 21,855.56 million, = 20,700.44 million and % 16,284.26 million.

For the nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018, our ROCE was 10.55%, 13.80%,
18.66% and 14.00%, while, given our net worth of 2 7,161.88 million, % 6,634.75 million, = 6,278.36 million and
% 5,412.34 million as on December 31, 2020 and March 31, 2020, 2019 and 2018, respectively, our ROE for the
same periods was 7.07%, 6.19%, 15.51% and 5.83%.

Indebtedness

As of December 31, 2020, our aggregate outstanding borrowing (including sales bill discounting, sales/purchase
invoice bill discounting, buyer’s credit and letter of credit facilities availed by our Company) was 2 8,901.12
million. For further information, see “Financial Statements — Restated Financial Information - Annexure VII -
Note No. 20” and “Financial Indebtedness” on pages 257 and 322, respectively.

Set forth below is a summary of our Company’s aggregate borrowings, in a consolidated basis, as on December
31, 2020:

(in million)

 

Category of borrowing Sanctioned amount Outstanding amount as on
December 31, 2020

Secured

Term loans 11,038.20 7,364.90
Working capital facilities*

. Fund based 3,300.00 1,566.91
, Non-fund based 870.00 826.49
Unsecured** 120.00 95.74
Total 15,328.20 9,854.04

 

*includes buyer's credit and letter of credit facilities availed by our Company.

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