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  • RA-01 Sub

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    Faizan Sajjad
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    1. The CFO was interviewed about Property, Plant and Equipment (PPE), IFRS 16 leases, and long-term loans. 2. For PPE, all required costs have been capitalized and no impairment was found. The operations and maintenance building was completed during the year. 3. For IFRS 16, no new rental agreements or changes requiring adjustment were reported. 4. For long-term loans, the company received a final disbursement but is in compliance with payments except for some non-significant loan covenant breaches for which a waiver will be obtained.

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    1. The CFO was interviewed about Property, Plant and Equipment (PPE), IFRS 16 leases, and long-term loans. 2. For PPE, all required costs have been capitalized and no impairment was found. The operations and maintenance building was completed during the year. 3. For IFRS 16, no new rental agreements or changes requiring adjustment were reported. 4. For long-term loans, the company received a final disbursement but is in compliance with payments except for some non-significant loan covenant breaches for which a waiver will be obtained.

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    © All Rights Reserved
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    6 views1 page

    RA-01 Sub

    Uploaded by

    Faizan Sajjad
    1. The CFO was interviewed about Property, Plant and Equipment (PPE), IFRS 16 leases, and long-term loans. 2. For PPE, all required costs have been capitalized and no impairment was found. The operations and maintenance building was completed during the year. 3. For IFRS 16, no new rental agreements or changes requiring adjustment were reported. 4. For long-term loans, the company received a final disbursement but is in compliance with payments except for some non-significant loan covenant breaches for which a waiver will be obtained.

    Copyright:

    © All Rights Reserved
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    of 1

    Inquiries from Management

    Name of interviewee
    Designation CFO/ Manager Accounts & Finance
    GT Representatives

    S. Description Management response


    No.
    1 Property, Plant and Equipment

    1. Are all the costs required to be capitalized as per the 1. Yes, all directly attributable cost which needs
    Project Plan capitalized till 30 June 2022? capitalization are capitalized, further capitalization
    only relates to translation of outstanding financing
    and other land improvements from time to time.
    2. If the cost is still in CWIP, reason for not 2. All costs are transferred from CWIP to operating
    capitalizing? fixed assets along with O&M building which was
    completed during the year.
    3. How the management has determined that PPE is 3. Based on NPV (discounting of future cash flows),
    not impaired at the reporting date? we determine the PPE is not impaired.
    4. What are the significant milestones not achieved till 4. All milestones related to project was achieved.
    30 June 2022 and when the management expects to
    complete it?
    5. What is the status of O and M building under 5. The building is completed and transferred during
    construction? the year. Further expenditure of Rs. 82 M is
    incurred during the year.
    6. Are there any changes to useful life of PPE, 6. No change.
    depreciation policy and or depreciation method?

    2 IFRS 16
    1. Has the company entered into any new rent 1. No.
    agreement or other agreement that could
    potentially attract the provisions of IFRS 16? 2. No.
    2. Is there any change to lease term, discount factor,
    escalation frequency or other means of lease
    modification that would require adjustment to
    IFRS 16?

    3 Long Term Loan


    1. Has the Company entered into any new Long 1. No.
    Term Loan facilities or subordinated debt?
    2. Are there any changes to the existing loans 2. No. There are no changes except repayment
    agreements terms, conditions, interest rates, schedules which incorporates the effects of 7th
    repayment schedules etc.? disbursement received during the year.

    3. Has the Company received any new disbursements 3. Yes. 7th and final disbursement was received during
    from its existing facilities during the year? the year.
    4. Is the Company complied with payments of 4. Yes
    installments along with markup as per repayment
    schedule agreed with the lenders?
    5. Are there any breaches by the Company to the 5. There are certain breaches of loan covenants but
    terms of Section 9 and Schedule 5 of the Common extent of such breaches are not significant against
    Terms Agreement that would lead to event of which financing becomes immediately repayable.
    default and consequently loan becoming This is no such communication from Intercreditor
    immediately payable on demand? Agent. Further waiver has been applied and will be
    obtained in meanwhile.

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