Company Overview Financial Statements Notice Statutory Reports 73 Rudolf Atul Chemicals Ltd | Annual Report 2019-20 ii) Following movement in lease liability (` lakhs) Particulars As at March 31, 2020 As at April 01, 2019 133.04 Addition - Deletion - Finance cost occurred 7.20 Payment of lease liability 20.00 As at March 31, 2020 120.24 Future minimum lease payments payable under finance leases together with the present value of the net minimum lease payments (MLP) are as under: (` lakhs) Particulars As at March 31, 2020 As at March 31, 2019 Minimum lease payments Present value of MLP Minimum lease payments Present value of MLP Not later than one year - - 20.00 20.00 Later than one year and not later than five years 40.00 35.42 40.00 33.30 Later than five years 180.00 84.82 180.00 79.74 Total minimum lease payments payable 220.00 120.24 240.00 133.04 Less: future finance cost 99.76 - 106.96 - Present value of minimum lease payments payable 120.24 120.24 133.04 133.04 The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due. Rent paid to lessor for short-term lease period is recognised in the Statement of Profit and Loss as Rent in Note 25 ‘Other expenses’. Cash payments for the principal portion and interest of the lease liabilities is classified within financing activities and short-term lease payments within operating activities.
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