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Note 29.7 Fair value measurements
(continued)
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 Accounting Standard.
An explanation of each level is given below the table:
(
`
cr)
i)
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 investment at FVPL:
Mutual funds
11
2.92
–
–
2.92
Financial investments at FVOCI:
Quoted Equity shares
6
415.10
–
–
415.10
Derivatives designated as hedges:
Currency options
–
1.70
–
1.70
Total financial assets
418.02
1.70
–
419.72
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
Biological assets
Tissue culture raised date palms
–
10.27
–
10.27
Total biological assets
–
10.27
–
10.27
(
`
cr)
ii)
Assets and liabilities for which fair
values are disclosed at March 31,
2017
Note
Level 1
Level 2
Level 3
Total
Financial assets
Investments:
Government securities
6
0.11
–
–
0.11
Security deposits for utilities and
premises
9
–
–
1.59
1.59
Total financial assets
0.11
–
1.59
1.70
Financial liabilities
Borrowings
17
–
–
167.26
167.26
Security deposits
18
–
–
21.92
21.92
Total financial liabilities
–
–
189.18
189.18
Investment properties
3
–
–
134.00
134.00
Notes
to the Consolidated Financial Statements