v3.26.1
Loans and borrowings
 12 Months Ended
Mar. 31, 2026
Borrowings [abstract]  
Loans and borrowings
16.
Loans and borrowings
 
Short-term borrowings
 
Short-term borrowings primarily consist of “pre-shipment credit” drawn by the parent company and other unsecured loans drawn by parent company and certain of its subsidiaries in Russia, Brazil and Mexico which are repayable within 12 months from the date of drawdown.
 
Short-term borrowings consist of the following:
 
 
 
As of March 31,
 
 
 
2026
 
 
2025
 
Pre-shipment credit
 
Rs.
19,600
 
 
Rs.
32,855
 
Working capital borrowings
 
 
39,535
 
 
 
5,129
 
Bank overdraft
 
 
-
 
 
 
61
 
 
 
Rs.
59,135
 
 
Rs.
38,045
 
 
The interest rate profile of short-term borrowings from banks is given below:
 
 
Currency
(1)
 
Interest Rate
(2)
 

 
As of March 31, 2026
 
As of March 31, 2025
 
RUB
 
Key rate + 348 bps to 398 bps
 
Key rate + 470 bps to 590 bps
 
MXN
 
TIIE + 1.35%
 
TIIE + 1.35%
 
INR
 
T-bill + 35 bps to 55 bps
 
7.50%
 
 
 
Repo + 75 bps
 
T-bill + 35 bps to 70 bps
 
BRL
 
CDI+1.55%
 
CDI+1.55%
 
U.S.$
 
-
 
6 Month SOFR + 10 bps to 65 bps
 
 
(1)
“BRL” means Brazilian reals, “INR” means Indian rupees, “MXN” means Mexican pesos, “RUB” means Russian rubles and “U.S.$” means U.S. dollars.
 
(2)
“CDI” means Brazilian interbank deposit rate (Certificado de Depósito Interbancário), “Key rate” means the key interest rate published by the Central Bank of Russia, “REPO” means the “Repurchasing option” rate published by the Reserve Bank of India, “SOFR” means Secured Overnight Financing Rate, “T-bill” means India Treasury bill interest rate and “TIIE” means the Equilibrium Inter-banking Interest Rate (Tasa de Interés Interbancaria de Equilibrio).
 
Long-term borrowings
 
Long-term borrowings consist of the following:
 
 
 
As of March 31,
 
 
 
2026
 
 
2025
 
 
 
Non – current
 
 
Current
 
 
Non – current
 
 
Current
 
Rupee term loan from bank to subsidiary
(1)
 
Rs.
-
 
 
Rs.
3,799
 
 
Rs.
3,800
 
 
Rs.
-
 
Obligations under leases
(2)
 
 
12,203
 
 
 
2,204
 
 
 
4,064
 
 
 
857
 
 
 
Rs.
12,203
 
 
Rs.
6,003
 
 
Rs.
7,864
 
 
Rs.
857
 
 

(1)
The Rupee term loan obtained from a bank by the Company’s subsidiary, Aurigene Pharmaceutical Services Limited is subject to certain covenants that are required to be maintained on a consolidated basis during the period of the loan. The covenant is to be tested on an annual basis at the end of each financial year. As at March 31, 2026 and March 31, 2025, the Company is in compliance with the covenants and has no indication that it will have difficulty in complying with the same.
(
2
)
Refer
to
N
ote
11.B
of these consolidated financial statements for further details.
 
The interest rate profiles of long-term borrowings (other than obligations under leases) as of March 31, 2026 and 2025 were as follows:
 
 
 
As of March 31,
 
 
 
2026
 
 
2025
 
 
 
Currency
(1)
 
 
Interest Rate
(2)
 
 
Interest rate
(
2
)
 
Rupee term loan from bank
 
 
INR
 
 
 
3 Months T-bill + 84 bps
 
 
 
3 Months T-bill + 84 bps
 
 
(1)
“INR” means Indian rupees.
(2)
“T-bill” means India Treasury bill interest rate.
 
 
 
The aggregate maturities of long-term loans and borrowings, based on contractual maturities were as follows:
 
 
 
As of March 31, 2026
 
 
As of March 31, 2025
 
Maturing in
 
 
Long term
borrowings
 
 
Obligations
under leases
 
 
Total
 
 
Long term
borrowings
 
 
Obligations
under leases
 
 
Total
 
Less than 1 year
 
Rs.
3,799
 
 
Rs.
2,582
 
 
Rs.
6,381
 
 
Rs.
-
 
 
Rs.
1,104
 
 
Rs.
1,104
 
1-2 years
 
 
-
 
 
 
2,272
 
 
 
2,272
 
 
 
3,800
 
 
 
911
 
 
 
4,711
 
2-3 years
 
 
-
 
 
 
2,131
 
 
 
2,131
 
 
 
-
 
 
 
840
 
 
 
840
 
3-4 years
 
 
-
 
 
 
1,977
 
 
 
1,977
 
 
 
-
 
 
 
594
 
 
 
594
 
4-5 years
 
 
-
 
 
 
1,861
 
 
 
1,861
 
 
 
-
 
 
 
539
 
 
 
539
 
Thereafter
 
 
-
 
 
 
8,214
 
 
 
8,214
 
 
 
-
 
 
 
2,736
 
 
 
2,736
 
 
 
Rs.
3,799
 
 
Rs.
19,037
 
 
Rs.
22,836
 
 
Rs.
3,800
 
 
Rs.
6,724
 
 
Rs.
10,524
 
Less: Finance component
 
 
-
 
 
 
(4,630
)
 
 
(4,630
)
 
 
-
 
 
 
(1,803
)
 
 
(1,803
)
 
 
Rs.
3,799
 
 
Rs.
14,407
 
 
Rs.
18,206
 
 
Rs.
3,800
 
 
Rs.
4,921
 
 
Rs.
8,721
 
 
Uncommitted lines of credit from banks
 
The Company has uncommitted lines of credit of Rs.49,109 and Rs.50,904 as of March 31, 2026 and 2025, respectively, from its banks for working capital requirements. The Company draw upon these lines of credit based on its working capital requirements.
 
Reconciliation of liabilities arising from financing activities during the year ended March 31, 2026:
 
Particulars
 
Long-term
borrowings
(1)
 
 
Short-term
borrowings
(2)
 
 
Total
 
Opening balance
 
Rs.
8,721
 
 
Rs.
37,984
 
 
Rs.
46,705
 
Recognition of 
lease
liabilit
ies
 during the year
 
 
9,709
 
 
 
-
 
 
 
9,709
 
Payment of principal portion of lease liabilities
 
 
(1,263
)
 
 
-
 
 
 
(1,263
)
Borrowings made during the year
 
 
-
 
 
 
119,829
 
 
 
119,829
 
Borrowings repaid during the year
 
 
(1
)
 
 
(99,572
)
 
 
(99,573
)
Effect of changes in foreign exchange rates
 
 
1,040
 
 
 
894
 
 
 
1,934
 
Closing balance
 
Rs.
18,206
 
 
Rs.
59,135
 
 
Rs.
77,341
 
 
Reconciliation of liabilities arising from financing activities during the year ended March 31, 2025:
 
Particulars
 
Long-term
borrowings
(1)
 
 
Short-term
borrowings
 
 
Total
 
Opening balance
 
Rs.
7,297
 
 
Rs.
12,723
 
 
Rs.
20,020
 
Recognition of
lease
liabilit
ies
during the year
 
 
2,576
 
 
 
-
 
 
 
2,576
 
Payment of principal portion of lease liabilities
 
 
(1,294
)
 
 
-
 
 
 
(1,294
)
Borrowings made during the year
 
 
-
 
 
 
80,646
 
 
 
80,646
 
Borrowings repaid during the year
 
 
-
 
 
 
(56,156
)
 
 
(56,156
)
Effect of changes in foreign exchange rates
 
 
142
 
 
 
771
 
 
 
913
 
Closing balance
 
Rs.
8,721
 
 
Rs.
37,984
 
 
Rs.
46,705
 
 
(1)
Includes current portion.
(2)
Does not include movement in bank overdraft.