Atul Ltd 2016-17

129 f) Deferred tax liabilities (net) The balance comprises temporary differences attributable to the below items and corresponding movement in deferred tax liabilities | (assets): ( ` cr) Particulars As at March 31, 2017 (Charged) | Credited to profit or loss | OCI As at March 31, 2016 (Charged) | Credited to profit or loss | OCI As at April 01, 2015 Property, plant and equipment 138.74 61.26 77.48 22.50 54.98 Total deferred tax liabilities 138.74 61.26 77.48 22.50 54.98 Provision for leave encashment (9.04) (1.23) (7.81) (0.41) (7.40) Provision for doubtful debts (1.10) 0.22 (1.32) 0.18 (1.50) Provision for doubtful advances – 0.07 (0.07) – (0.07) Investment properties (3.95) (0.18) (3.77) (0.25) (3.52) Voluntary Retirement Scheme – – – 0.16 (0.16) Unrealised MTM losses on derivatives (CIRS) (1.75) (1.75) – – – Effective portion of gains and loss on cash flow hedges (0.25) 0.06 (0.31) (0.31) – MAT credit entitlement (22.90) (22.90) – – – Total deferred tax assets (38.99) (25.71) (13.28) (0.63) (12.65) Net deferred tax (asset) | liability 99.75 35.55 64.20 21.87 42.33 g) Unrecognised temporary differences The Company has not recognised deferred tax liability associated with fair value gains on Equity share measured at OCI as based on the Management projection of future taxable income and existing plan it is not probable that such difference will reverse in the foreseeable future. Note 27.6 Employee benefit obligations Funded schemes a) Defined benefit plans: Gratuity The Company operates a gratuity plan through the 'Atul Employees Gratuity Trust'. Every employee is entitled to a benefit equivalent to 15 days salary last drawn for each completed year of service in line with the Payment of Gratuity Act, 1972 or Company scheme whichever is beneficial. The same is payable at the time of separation from the Company or retirement, whichever is earlier. The benefits vest after 5 years of continuous service. Balance Sheet amount (Gratuity) ( ` cr) Particulars Present value of obligation Fair value of plan assets Net amount April 01, 2015 44.44 (44.44) – Current service cost 2.10 – 2.10 Interest expense | (income) 3.55 (3.55) – Total amount recognised in profit and loss 5.65 (3.55) 2.10 Remeasurement Return on plan assets, excluding amount included in interest expense | (income) – 0.79 0.79 (Gain) | Loss from change in financial assumptions 0.36 – 0.36 Experience (gain) | loss 1.91 – 1.91 Total amount recognised in Other Comprehensive Income 2.27 0.79 3.06 Employer contributions – (5.16) (5.16) Benefit payments (5.09) 5.09 – March 31, 2016 47.27 (47.27) – Current service cost 2.52 – 2.52 Interest expense | (income) 3.69 (3.69) – Total amount recognised in profit and loss 6.21 (3.69) 2.52 Remeasurement Return on plan assets, excluding amount included in interest expense | (income) – (1.98) (1.98) (Gain) | Loss from change in financial assumptions 1.11 – 1.11 Experience (gain) | loss (1.61) – (1.61) Total amount recognised in Other Comprehensive Income (0.50) (1.98) (2.48) Employer contributions – (0.04) (0.04) Benefit payments (5.81) 5.81 – March 31, 2017 47.17 (47.17) – Notes to the Financial Statements