Atul Ltd 2016-17

133 Note 27.7 Fair value measurements (continued) a) Fair value hierarchy This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the Financial Statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the 3 levels prescribed under the Accounting Standard. An explanation of each level follows underneath the table. ( ` cr) i) Financial assets and liabilities measured at fair value – recurring fair value measurement at March 31, 2017 Note Level 1 Level 2 Level 3 Total Financial assets Financial investments at FVOCI: Quoted Equity shares 5 414.27 – – 414.27 Derivatives designated as hedges: Currency options – 1.70 – 1.70 Total financial assets 414.27 1.70 – 415.97 Financial liabilities Derivatives designated as hedges: Foreign exchange forward contracts – 2.43 – 2.43 Derivatives not designated as hedges: Currency swaps – 5.07 – 5.07 Total financial liabilities – 7.50 – 7.50 ( ` cr) ii) Assets and liabilities for which fair values are disclosed at March 31, 2017 Note Level 1 Level 2 Level 3 Total Financial assets Investments: Preference shares 5 – – 7.10 7.10 Government securities 5 0.01 – – 0.01 Loans 6 – – 12.19 12.19 Security deposits for utilities and premises 7 – – 3.27 3.27 Finance lease receivable 7 – – 1.38 1.38 Total financial assets 0.01 – 23.94 23.95 Financial liabilities Borrowings 15 – – 154.80 154.80 Security deposits 16 – – 19.30 19.30 Total financial liabilities – – 174.10 174.10 Investment Properties 3 134.00 134.00 Notes to the Financial Statements