242 Atul Ltd | Annual Report 2021-22 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 three levels prescribed in the Indian Accounting Standard. An explanation of each level follows underneath the table: (` cr) i) Financial assets and liabilities measured at fair value as at March 31, 2022 Note Level 1 Level 2 Level 3 Total Financial assets Financial investments at FVTOCI: Quoted equity shares 6.2 646.15 - - 646.15 Unquoted equity shares1 6.2 - - 1.23 1.23 Financial investments at FVTPL: Bond 6.2 113.12 - - 113.12 Mutual funds 6.3 - 550.08 - 550.08 Derivatives designated as hedges: Currency options 8 - 0.50 - 0.50 Total financial assets 759.27 550.58 1.23 1,311.08 Biological assets Tissue culture raised date palms plants - - 37.59 37.59 Total biological assets - - 37.59 37.59 (` cr) ii) Financial assets and liabilities measured at fair value as at March 31, 2021 Note Level 1 Level 2 Level 3 Total Financial assets Financial investments at FVTOCI: Quoted equity shares 6.2 579.79 - - 579.79 Unquoted equity shares1 6.2 - - 1.23 1.23 Financial investments at FVTPL: Bond 6.2 15.40 - - 15.40 Mutual funds 6.3 - 740.30 - 740.30 Derivatives designated as hedges: Currency options 8 - 0.60 - 0.60 Total financial assets 595.19 740.90 1.23 1,337.32 Biological assets Tissue culture raised date palms plants - - 30.02 30.02 Total biological assets - - 30.02 30.02 ¹Includes investments in Bharuch Enviro Infrastructure Ltd (70,000 equity shares), Narmada Clean Tech Ltd (7,15,272 equity shares) and Bhadreshwar Vidyut Pvt Ltd (formerly known as OPGS Power Gujarat Pvt Ltd, 5,03,000 equity shares), which are for operation purpose and the Company has to hold it till production site continues. The Group estimates that the fair value of these investments are not materially different as compared to its cost. Note 29.7 Fair value measurements (continued)
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