Gillette_India_Limited_AR_20

Annual Report 2019-20 97 Notes to Financial Statements for the year ended June 30, 2020 Company Overview Board's Report MD&A Corporate Governance Financial Statements Gillette India Limited As at June 30, 2020 ` in lakhs As at June 30, 2019 ` in lakhs Current Prepaid expenses 30 16 Other advances (including advance to vendors) 862 672 Advance to employees (refer note (a) below) 8 53 Balances with government authorities (includes Service Tax and Cenvat credit receivable) 2 740 1 475 3 640 2 216 (a) Advances given to employees as per the Company’s policy are not considered for the purposes of disclosure under Section 186 (4) of the Act. (b) Includes amounts deposited with Excise, Sales Tax and other authorities, pending resolution of disputes. 8 Inventories As at June 30, 2020 ` in lakhs As at June 30, 2019 ` in lakhs Inventories (lower of cost and net realisable value) Raw materials (including packing materials) 6 130 4 034 Work-in-progress 963 766 Finished goods 4 233 3 649 Stock-in-trade [Includes in transit ` 8 741 lakhs (June 30, 2019: ` 6 373 lakhs in transit)] 14 795 13 073 Consumable stores and spares 2 306 1 879 28 427 23 401 (a) The cost of inventories recognised as an expense during the year is disclosed in note 21, 22 and 25. (b) The cost of inventories recognised as an expense includes ` Nil lakhs (during 2018-2019: ` Nil lakhs) in respect of write-downs of inventory to net realisable value. There has been no reversal of such write down in current and previous years. 9 Trade receivables As at June 30, 2020 ` in lakhs As at June 30, 2019 ` in lakhs Unsecured, considered good 19 067 18 249 Credit Impaired 575 288 19 642 18 537 Less: Allowance for expected credit loss (575) (288) 19 067 18 249 The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix. The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information. The expected credit loss allowance is based on the ageing of the days the receivables are due and the rates as per the provision matrix. The concentration of credit risk is limited due to the fact that the customer base is large and unrelated. 7 Other assets (Contd.)