Page 292 - BCML AR 2019-20

FINANCIAL STATEMENTS

Notes forming part of the Consolidated Financial Statements

Note No. : 37 Other disclosures (Contd.)

(` in Lacs)
Sl. Particulars Year Year
No. ended 31st ended 31st
March, 2020 March, 2019
II. Other comprehensive income
1 Actuarial gain / (loss) arising from:
- change in financial assumptions 551.20 (55.04)
- changes in experience adjustments 322.23 811.61
2 (Returns)/loss on plan assets excluding amounts included in interest income 296.94 33.34
3 Components of defined benefit costs recognised in Other comprehensive income 1170.37 789.91
III. Change in present value of defined benefit obligation :
1 Present value of defined benefit obligation at the beginning of the year 6106.16 4912.87
2 Interest expense 445.10 354.35
3 Current service cost 512.32 458.82
4 Benefits paid 499.45 376.45
5 Actuarial gain / (loss) arising from:
- changes in financial assumptions 551.20 (55.04)
- changes in experience adjustments 322.23 811.61
6 Present value of Defined Benefit Obligation at the end of the year 7437.56 6106.16
IV. Change in fair value of plan assets during the year :
1 Plan assets at the beginning of the year 5968.75 4912.87
2 Interest income 443.67 394.52
3 Employers' contributions 237.41 1071.15
4 Benefits paid 499.45 376.45
5 Re-measurement (Returns on plan assets excluding amounts included in interest 296.94 33.34
income)
6 Fair Value of Plan Assets at the end of the year 5853.44 5968.75
V. Net Asset / (Liability) recognised in the Consolidated Balance Sheet as at the
year end:
1 Present value of Defined Benefit Obligation 7437.56 6106.16
2 Fair value of Plan Assets 5853.44 5968.75
3 Funded Status [Surplus/(Deficit)] (1584.12) (137.41)
4 Net Asset / (Liability) recognised in consolidated balance sheet (1584.12) (137.41)
- Current Liability (Short term) (1584.12) (137.41)
- Non-Current Liability (Long term) - -
VI. Actuarial Assumptions :
1 Discount Rate (per annum) % 6.75% 7.60%
2 Expected return on Plan Assets (per annum) % 6.75% 7.60%
3 Expected Rate of Salary increase % 6.00% 6.00%
4 Retirement/Superannuation Age (Year) 60 60
5 Mortality Rates IALM 2006-2008 IALM 2006-2008
Ultimate Ultimate

290 | Balrampur Chini Mills Limited