Atul Ltd 2013-14

Atul Ltd | Annual Report 2013-14 ( ` cr) NOTE 27.10 LOANS AND ADVANCES IN THE NATURE OF LOANS Particulars Amount outstanding as at Maximum balance during the year March 31, 2014 March 31, 2013 2013-14 2012-13 (i) Subsidiary Company: Ameer Trading Corporation Ltd 4.12 3.76 4.12 7.69 Atul Bioscence Ltd 4.30 4.30 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, 2014 (included in Note 24) ( ` cr) Particulars 2013-14 2012-13 Gratuity Gratuity 1 Current service cost 1.92 1.75 2 Interest cost 3.30 3.08 3 Expected return on plan assets (3.62) (3.17) 4 Employer contribution (receipt) – – 5 Actuarial losses | (gains) (0.46) 2.94 Expenses recognised in Statement of Profit and Loss 1.14 4.60 Net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2014 1 Present value of defined benefit obligation 41.79 41.32 2 Fair value of plan assets 41.79 41.32 3 Funded status {surplus | (deficits)} – – Net assets | (liabilities) – – Reconciliation of net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2014 1 Net assets | (liabilities) at beginning of the year – (0.66) 2 Employer expenses 1.14 4.60 3 Employer contribution (1.14) (3.94) Net assets | (liabilities) at the end of the year – – Actual return on plan assets 3.68 3.46 Actuarial assumptions 1 Discount rates 9.29% 8.00% 2 Expected rate of return on plan assets 8.70% 8.76% 3 Expected rate of salary increase 7.00% 7.00% 4 Mortality post-retirement Indian Assured Lives Mortality (2006-08) Ultimate Indian Assured Lives Mortality (2006-08) Ultimate Major category of plan assets as a % of total plan 1 Unit linked insurance plan of various private insurance companies approved by IRDA 74.29% 88.98% 2 In approved Government securities 25.71% 11.02% Notes to the Financial Statements