Heritage Foods Limited

Heritage Foods Limited 176 (a) Information of net income derived from Investment property For the year ended 31 March 2021 31 March 2020 Lease rental income 11.85 15.40 Less: Depreciation 1.37 1.72 Net income derived from Investment property 10.48 13.68 (b) Description of valuation technique and key assumptions used As at 31 March 2021 As at 31 March 2020 Valuation technique: Discounted Cash Flow (“DCF”) method Estimated rental value per square feet per month (in absolute ₹ terms) 18 18 Rental growth per annum 5% 5% Discount rate 9.50% 9.50% (c) Changes in fair value of Investment property is shown below: Amount Fair value as on 31 March 2019 322.18 Transferred from Property, plant and equipment during the year 23.30 Fair value as on 31 March 2020 345.48 Transferred to Property, plant and equipment during the year (34.50) Increase in fair value of existing Investment property 36.70 Fair value as on 31 March 2021 347.68 Notes: (i) Fair value of investment properties as on 31 March 2019 is based on valuation technique and key assumptions stated in note 8(b). (ii) Fair value of an investment property transferred during 2019-20 is re fl ected based on a valuation report by an independent valuer. 9 Investment in subsidiary, joint venture and associate Particulars As at 31 March 2021 As at 31 March 2020 Unquoted Investment in a subsidiary 3,709,464 (31 March 2020: 3,709,464) equity shares of ₹ 10 each fully paid held in Heritage Nutrivet Limited 323.52 322.52 323.52 322.52 Investment in an associate 650,000 (31 March 2020: 650,000) equity shares of ₹ 10 each fully paid held in SKIL Raigam Power (India) Limited 6.50 6.50 Less: Impairment of investment 6.50 1.05 - 5.45 Investment in a joint venture 3,485,579 (31 March 2020: 2,280,299) equity shares of ₹ 10 each fully paid held in Heritage Novandie Foods Private Limited 164.70 90.06 164.70 90.06 488.22 418.03 Aggregate amount of unquoted investments 488.22 418.03 Aggregate amount of impairment in value of investments 6.50 1.05 Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated)