Heritage Foods Limited

Heritage Foods Limited 238 Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated) Particulars for the year ended 31 March 2021 31 March 2020 ( a ) Information of net income derived from Investment property Lease rental income 11.85 15.40 Less: Depreciation 1.37 1.72 Net income from Investment property 10.48 13.68 As at 31 March 2021 As at 31 March 2020 ( b ) Description of valuation technique and key assumptions used 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 (refer note (ii) below) 36.70 Fair value as on 31 March 2021 347.68 Notes: (i) Fair valueof investmentpropertiesason31March2019 isbasedonvaluationtechniqueandkeyassumptions stated innote8(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 associate and joint venture Particulars As at 31 March 2021 As at 31 March 2020 Unquoted 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: Share of accumulated and impairment losses 6.50 1.20 - 5.30 Investment in a joint venture 3,485,579 (31 March 2020: 2,280,299) equity shares of ₹ 10 each fully paid held in Heritage No- vandie Foods Private Limited 164.70 90.06 Less: Share of accumulated losses 35.64 13.56 129.06 76.50 129.06 81.80 Aggregate amount of unquoted investments 129.06 81.80 Aggregate amount of impairment in value of investments 6.27 1.05