Atul Ltd 2017-18

195 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 Consolidated Financial Statements. To provide an indication about the reliability of the inputs used in determining fair value, the Group has classified its financial instruments into the 3 levels prescribed under the Indian Accounting Standard. An explanation of each level follows underneath the table: ( ` cr) i) Financial assets and liabilities measured at fair value - recurring fair value measurements at March 31, 2018 Note Level 1 Level 2 Level 3 Total Financial assets Financial investments at FVPL: Mutual funds 11 5.70 – – 5.70 Financial investments at FVOCI: Quoted equity shares 6 452.49 – – 452.49 Unquoted equity shares 1 6 – – 0.81 0.81 Share application money 6 0.01 – – 0.01 Derivatives designated as hedges: Foreign exchange forward contracts – 0.07 – 0.07 Total financial assets 458.20 0.07 0.81 459.08 Financial liabilities Derivatives designated as hedges: Currency options – 0.02 – 0.02 Total financial liabilities – 0.02 – 0.02 Biological assets Tissue culture raised date palms – 22.70 – 22.70 Total biological assets – 22.70 – 22.70 ( ` cr) ii) Assets and liabilities for which fair values are disclosed at March 31, 2018 Note Level 1 Level 2 Level 3 Total Financial assets Investments: Government securities 6 0.01 – – 0.01 NHAI bonds 6 0.10 – – 0.10 Security deposits for utilities and premises 8 – – 1.48 1.48 Total financial assets 0.11 – 1.48 1.59 Financial liabilities Borrowings 17 – – 15.91 15.91 Security deposits 18 – – 22.46 22.46 Total financial liabilities – – 38.37 38.37 Investment properties 3 – – 141.00 141.00 Notes to the Consolidated Financial Statements Note 29.7 Fair value measurements (continued)