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Atul Ltd | Annual Report 2011-12
Notes
to financial statements
NOTE 27.11 LOANS AND ADVANCES IN THE NATURE OF LOANS
(
`
cr)
Particulars
Amount outstanding
as at March 31, 2012
Maximum balance
during the year
(i) Subsidiary company:
Ameer Trading Corporation Ltd
7.69
12.42
(ii) Associate company:
Amal Ltd
14.88
14.88
(iii) Loan to other:
Atul club
1.42
1.42
Notes:
(a) No repayment schedule for (iii)
(b) Loans given to employees as per the policy of the Company are not considered.
NOTE 27.12 EMPLOYEE BENEFITS
(a) Defined benefit plans:
Expenses recognised for the year ended on March 31, 2012 (included in Note 24)
(
`
cr)
Particulars
2011-12
Gratuity funded
2010-11
Gratuity funded
1 Current service cost
1.49
1.40
2 Interest cost
2.83
2.36
3 Expected return on plan assets
(2.78)
(2.46)
4 Employer contribution (receipt)
-
-
5 Actuarial losses | (gains)
1.64
3.28
Expenses recognised in Statement of Profit and Loss
3.18
4.58
Net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2012
1 Present value of defined benefit obligation
36.20
34.26
2 Fair value of plan assets
36.86
33.48
3 Funded status {surplus | (deficits)}
0.66
(0.78)
Net assets | (liabilities)
0.66
(0.78)
Reconciliation of net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2012
1 Net assets | (liabilities) at the beginning of the year
(0.50)
(2.14)
2 Employer expenses
3.17
4.58
3 Employer contribution
(3.33)
(1.65)
Net assets | (liabilities) at the end of the year
(0.66)
0.79
Actual return on plan assets
0.98
3.00
Actuarial assumptions
1 Discount rates
8.50%
8.25%
2 Expected rate of return on plan assets
8.60%
8.00%
3 Expected rate of salary increase
6.50%
6.50%
4 Mortality post-retirement
LIC (1994-96)
LIC (1994-96)
Major category of plan assets as a percentage of total plan
1 Unit linked insurance plan of various private insurance companies
approved by IRDA
89.55%
90.95%
2 In approved Government securities
10.45%
9.05%