Atul Ltd 2017-18

137 The assumptions used in determining the present value of obligation of the interest rate guarantee under deterministic approach are: Particulars 2017-18 2016-17 i) Mortality rate Indian Assured Lives Mortality (2006-08) Ultimate Indian Assured Lives Mortality (2006-08) Ultimate ii) Withdrawal rates 5% p.a. for all age groups 6% p.a. for all age groups iii) Rate of discount 7.68% 7.22% iv) Expected rate of interest 8.55% 8.65% v) Retirement age 60 years 60 years vi) Guaranteed rate of interest 8.55% 8.65% b) Defined contribution plans: Provident and other funds: Amount of ` 9.60 cr (March 31, 2017: ` 9.36 cr) is recognised as expense and included in Note 24 ‘Contribution to Provident and other funds’. Compensated absences: Amount of ` 0.71 cr (March 31, 2017: ` 5.99 cr) is recognised as expense and included in Note 24 ‘Salaries, wages and bonus’. Note 27.7 Fair value measurements Financial instruments by category ( ` cr) Particulars As at March 31, 2018 As at March 31, 2017 FVPL FVOCI Amortised cost FVPL FVOCI Amortised cost Financial assets Investments: Equity instruments – 452.32 – – 415.06 – Preference shares – – 5.72 – – 7.10 Government securities – – 0.01 – – 0.01 Share application money – 0.01 – – – – Trade receivables – – 717.68 – – 507.06 Loans – – 7.07 – – 12.19 Security deposits for utilities and premises – – 1.10 – – 3.27 Dividends receivable – – 17.38 – – 15.93 Derivative financial assets designated as hedges – 0.07 – – 1.70 – Finance lease receivable – – 1.25 – – 1.38 Cash and bank balances – – 22.17 – – 7.21 Other receivables – – 14.64 – – 7.88 Total financial assets – 452.40 787.02 – 416.76 562.03 Financial liabilities Borrowings – – 0.01 – – 155.23 Trade payables – – 470.46 – – 329.06 Security deposits – – 19.80 – – 19.30 Derivative financial liabilities designated as hedges – 0.02 – – 2.43 – Derivative financial liabilities not designated as hedges – – – 5.07 – – Employee benefits payable – – 24.28 – – 22.56 Creditors for capital goods – – 18.81 – – 18.38 Other liabilities (Includes discount payables) – – 14.86 – – 8.79 Total financial liabilities – 0.02 548.22 5.07 2.43 553.32 Notes to the Financial Statements Note 27.6 Employee benefit obligations (continued)