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Borrowings (Tables)
 6 Months Ended
Sep. 30, 2024
Debt Instrument [Line Items]  
Schedule of Long Term Borrowings
A.
Long-term borrowings consist of the following:

 

 

 

 

 

 

As of
 September 30,
2024

 

 

As of
March 31,
2024

 

Loans from banks (note a)

 

 

 

 

 

121,796

 

 

 

112,169

 

Secured debentures (note b)

 

 

 

 

 

2,203,787

 

 

 

2,214,754

 

Convertible debenture (note c)

 

 

 

 

 

1,226,560

 

 

 

1,374,481

 

Less: current portion of long-term borrowings

 

 

 

 

 

(2,221,055

)

 

 

(2,228,471

)

 

 

 

 

 

1,331,088

 

 

 

1,472,933

 
Schedule of Loans from Banks
a)
Loan from banks:

 

Particulars

 

 

Interest
rate

 

Maturity
date

 

Amount
outstanding

 

 Long-term borrowings from banks

 

 

8.75%

 

10-Aug-30

 

 

104,986

 

 Long-term borrowings from banks

 

 

9.00%

 

1-May-29

 

 

16,810

 

 

 

 

 

 

 

 

121,796

 
Schedule of Secured Debentures
b)
Secured debentures:

 

Particulars

 

 

Interest
rate

 

 

Maturity
date

 

Amount
outstanding

 

N1 Series Debentures

 

 

 

19.50

%

 

31-Mar-25

 

 

575,274

 

N2 Series Debenture

 

 

 

19.50

%

 

31-Mar-25

 

 

325,791

 

N3 Series Debentures

 

 

 

19.25

%

 

31-Mar-25

 

 

407,614

 

N4 Series Debentures

 

 

 

20.00

%

 

31-Mar-25

 

 

895,108

 

 

 

 

 

 

 

 

 

2,203,787

 

 

 

 

 

 

 

 

 

 

 
Schedule Of Changes In Repayment Terms

During the three month period ended September 30, 2024, the Company has entered into a modification arrangement with the debenture holders, resulting in changes to the repayment terms for the following series of debentures:

 

Particulars

 

 

 

 

Original terms (Months)

 

 

Modified Terms (Months)

 

N1 Series Debentures

 

 

 

 

 

24

 

 

 

34

 

N2 Series Debenture

 

 

 

 

 

24

 

 

 

32

 

N3 Series Debentures

 

 

 

 

 

18

 

 

 

28

 

N4 Series Debentures

 

 

 

 

 

13

 

 

 

27

 
Schedule of Assumptions Used In Calculating Estimated Fair Value Of Forward Purchase Agreement

Assumptions used in calculating estimated fair value of the Forward Purchase Agreement as of September 30, 2024 are as follows:

 

Volatility

 

 

 

 

 

 

 

60.51

%

Risk-free rate

 

 

 

 

 

 

 

3.79

%

Dividend yield

 

 

 

 

 

 

 

0.00

%

Strike price

 

 

 

 

 

 

 

10.77

 

Remaining term (years)

 

 

 

 

 

 

0.50 year

 
Schedule of Maturities of Long-term Borrowings Excluding Convertible Notes

d. As of September 30 2024, the aggregate maturities of long-term borrowings are as follows:

 

Period ending March 31, 2025

 

 

 

 

 

 

 

2,212,273

 

Period ending March 31, 2026

 

 

 

 

 

 

 

18,057

 

Period ending March 31, 2027

 

 

 

 

 

 

 

19,718

 

Period ending March 31, 2027 onwards

 

 

 

 

 

 

 

75,535

 

 

 

 

 

 

 

 

 

2,325,583

 
Schedule of Short Term Borrowings
B.
Short-term borrowings

 

 

 

 

 

 

As of
 September 30,
2024

 

 

As of
March 31,
2024

 

Loans from banks (note a)

 

 

 

 

 

236,173

 

 

 

781,455

 

Loans from related parties (note b)

 

 

 

 

 

1,080,444

 

 

 

1,096,109

 

Loans from others (note c)

 

 

 

 

 

18,866,800

 

 

 

13,877,265

 

 

 

 

 

 

20,183,417

 

 

 

15,754,829

 

 
Summary of Loans from Banks and Others
a)
Loans from banks and others

 

Particulars

 

Weighted average borrowing rate

 

Short-term borrowings from banks and others

 

 

14.91

%

 

 

 

 
Summary of Estimated Fair Value of Working Capital Loan

Fair Value of the Warrants:

 

 

 

 

 

 

 

 

 

 

Closing price

 

 

 

 

 

 

$

0.06

 

Open price

 

 

 

 

 

 

$

0.06

 

High

 

 

 

 

 

 

$

0.06

 

Low

 

 

 

 

 

 

$

0.06

 
Warrants Entitlement  
Debt Instrument [Line Items]  
Schedule of Assumptions Used In Calculating Estimated Fair Value Of Forward Purchase Agreement

The assumptions used in calculating estimated fair value of warrants due as of June 30, 2024 are as follows:

 

Risk free rate

 

 

 

 

3.58

%

Volatility

 

 

 

 

169.23

%

Annual Interest rate

 

 

 

 

13

%

Conversion Price

 

 

 

$10