Heritage Foods Limited

Heritage Foods Limited 188 Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated) (i) Change in projected bene fi t obligation As at 31 March 2021 As at 31 March 2020 Projected bene fi t obligation at the beginning of the year 113.68 89.88 Service cost 14.61 11.73 Interest cost 6.71 6.18 Actuarial loss 5.40 9.07 Bene fi ts paid (3.82) (3.18) Projected bene fi t obligation at the end of the year 136.58 113.68 (ii) Change in fair value of plan assets As at 31 March 2021 As at 31 March 2020 Fair value of plan assets at the beginning of the year 108.35 79.48 Interest income 7.09 6.29 Contribution made 22.95 24.01 Actuarial gain/(loss) (0.05) 1.75 Bene fi ts paid (3.82) (3.18) Fair value of plan assets at the end of the year 134.52 108.35 (iii) Reconciliation of present value of projected bene fi t obligation and fair value of plan assets As at 31 March 2021 As at 31 March 2020 Present value of projected bene fi t obligation 136.58 113.68 Funded status of plan assets 134.52 108.35 Net liability recognised in the balance sheet 2.06 5.33 (iv) Expense recognized in the Statement of Pro fi t and Loss For the year ended 31 March 2021 31 March 2020 Interest cost 6.71 6.18 Service cost 14.61 11.73 Interest income (7.09) (6.29) 14.23 11.62 (v) Expense recognized in OCI For the year ended 31 March 2021 31 March 2020 Actuarial loss, net 5.45 7.32 5.45 7.32 (vi) Key actuarial assumptions As at 31 March 2021 As at 31 March 2020 Discount rate 5.90% 6.00% Salary escalation rate 8.00% 8.00% Attrition rate 15.00% 15.00% (vii) Sensitivity analysis Reasonably possible changes as at 31 March 2021 to one of the relevant actuarial assumptions, holding other assumptions constant, can a ff ect the de fi ned bene fi t obligation by the amounts shown below.