Scheduleforming part of the Balance Sheet - Domain-b

The Indian Hotels Company Limited
142
Notes on Consolidated Balance Sheet and Profit and Loss Account (Contd.)
11. Interest expense is net of interest income and it comprises of:
Particulars Current Year Previous Year
Interest Expenses
Rs. crores Rs. crores
Fixed Loans * 208.90 133.97
Other Loans ** 15.84 37.75
224.74 171.72
Less : Interest Capitalised 4.45 1.63
Total Expenses
Interest Income (Gross)
220.29 170.09
Inter-Corporate Deposits 1.94 1.48
Deposits with Banks 7.43 2.32
Interest on IT Refund 2.20 -
Others 6.40 44.14
Total Income 17.97 47.94
Interest (net) 202.32 122.15
* Interest on Fixed Loans includes Rs. 3.83 crores (Previous year - Rs. 2.28 crores) being expenses on loans amor
tised over the tenure of the loan.
** Includes interest on luxury tax amounting to Rs. 2.14 crores (previous year - Nil).
12. Derivative Instruments :
The Group uses forward exchange contracts, interest rate swaps, currency swaps and options to hedge its exposure
in foreign currency borrowings and interest rates. The information on derivative instruments is as follows:
Derivative Instruments outstanding:
Particulars Current Year Previous Year
(USD million) (USD million)
Currency Swaps - 5.5
Principal only swaps 22.73 22.73
Interest only swaps 80.00 37.86
13. Details of Cash and Cash Equivalents:
Particulars 31 st March, 2008 31 st March, 2007
Rs. crores Rs. crores
Cash and Bank Balances (as per Schedule 7) 257.60 177.15
Add : Investments in Liquid Mutual Funds (as per Schedule 6) 2.61 13.08
Less : Secured Bank Overdraft (as per Schedule 3) 35.38 14.66
Less : Unsecured Bank Overdraft (as per Schedule 4) 2.87 8.56
Cash and Cash Equivalents 221.96 167.01