Atul Ltd 2017-18

139 Note 27.7 Fair value measurements (continued) ( ` cr) iii) Financial assets and liabilities measured at fair value – recurring fair value measurements 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 Unquoted equity shares 1 5 – – 0.79 0.79 Derivatives designated as hedges: Currency options – 1.70 – 1.70 Total financial assets 414.27 1.70 0.79 416.76 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) iv) 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 ¹ Includes investment in Bharuch Enviro Infrastructure Ltd (70,000 equity shares) and in Narmada Clean Tech Ltd (7,15,272 equity shares) which are for operation purposes and the Company expects its refund on exit. The Company estimates that the fair value of these investments are not materially different as compared to its cost. Notes to the Financial Statements