Atul Ltd 2012-13

Atul Ltd | Annual Report 2012-13 Notes to financial statements ( ` cr) NOTE 27.10 LOANS AND ADVANCES IN THE NATURE OF LOANS Particulars Amount outstanding as at Maximum balance during the year March 31, 2013 March 31, 2012 2012-13 2011-12 (i) Subsidiary company: Ameer Trading Corporation Ltd 3.76 7.69 7.69 12.42 Atul Bioscence Ltd 4.30 - 4.30 - (ii) Associate company: Amal Ltd 14.88 14.88 14.88 14.88 (iii) Loan to other: Atul Club 1.42 1.42 1.42 1.42 Notes: (a) No repayment schedule for (iii) (b) Loans given to employees as per the policy of the Company are not considered. NOTE 27.11 EMPLOYEE BENEFITS Funded schemes (a) Defined benefit plans: Expenses recognised for the year ended on March 31, 2013 (included in Note 24) ( ` cr) Particulars 2012-13 2011-12 Gratuity Gratuity 1 Current service cost 1.75 1.49 2 Interest cost 3.08 2.83 3 Expected return on plan assets (3.17) (2.78) 4 Employer contribution (receipt) - - 5 Actuarial losses | (gains) 2.94 1.64 ([SHQVHV UHFRJQLVHG LQ 6WDWHPHQW RI 3URÀW DQG /RVV 4.60 3.18 Net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2013 1 3UHVHQW YDOXH RI GHÀQHG EHQHÀW REOLJDWLRQ 41.32 36.20 2 Fair value of plan assets 41.32 36.86 3 )XQGHG VWDWXV ^VXUSOXV _ GHÀFLWV ` - 0.66 Net assets | (liabilities) - 0.66 Reconciliation of net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2013 1 Net assets | (liabilities) at beginning of the year (0.66) (0.50) 2 Employer expenses 4.60 3.17 3 Employer contribution (3.94) (3.33) Net assets | (liabilities) at the end of the year - (0.66) Actual return on plan assets 3.46 0.98 Actuarial assumptions 1 Discount rates 8.00% 8.50% 2 Expected rate of return on plan assets 8.76% 8.60% 3 Expected rate of salary increase 7.00% 6.50% 4 Mortality post-retirement Indian Assured Lives Mortality (2006-08) Ultimate LIC (1994-96) Major category of plan assets as a percentage of total plan 1 Unit linked insurance plan of various private insurance companies approved by IRDA 88.98% 89.55% 2 In approved Government securities 11.02% 10.45%