Heritage Foods Limited | 30th Annual Report 2021-22

Financial Statements Company Overview Statutory Reports 165 (vii) Sensitivity analysis Reasonably possible changes as at 31 March 2022 to one of the relevant actuarial assumptions, holding other assumptions constant, can affect the defined benefit obligation by the amounts shown below. As at 31 March 2022 Increase Decrease Discount rate (1% movement) 7.00 7.75 Salary escalation rate (1% movement) 7.21 6.69 Attrition rate (1% movement) 0.86 0.92 (viii) The Company expects to contribute ` Nil as its contribution to gratuity within one year from the year ended 31 March 2022. (ix) Maturity analysis of Gratuity as on 31 March 2022 is as follows: Amount Within one year 30.28 2 to 5 years 93.90 More than 5 years 124.94 249.12 22. Deferred tax liabilities (net) As at 31 March 2022 31 March 2021 Deferred tax liabilities arising on account of: Borrowings measured at amortised cost - 0.81 Right-of-use assets (1.37) 0.23 Property, Plant and Equipment (“PPE”) 350.16 303.05 348.79 304.09 Deferred tax assets arising on account of: Provision for trade receivables and advances (20.27) (5.41) Provision for employee benefits (64.41) (60.37) Receipt of government grant (22.93) - Interest on GST liability (8.69) - Revaluation of investments at FVTOCI to fair value (0.62) (0.62) (116.92) (66.40) 231.87 237.69 Movement in deferred tax liabilities, net Borrowings Property, plant and equipment Provision for employee benefits Receipt of government grant Interest on GST liability Others Total As at 1 April 2020 1.63 285.34 (51.39) - - (6.36) 229.22 Charged - to Statement of Profit and Loss (0.82) 17.71 (7.60) - - 0.56 9.85 - to OCI - - (1.38) - - - (1.38) As at 31 March 2021 0.81 303.05 (60.37) - - (5.80) 237.69 Charged - to Statement of Profit and Loss (0.81) 47.11 (3.97) (22.93) (8.69) (16.46) (5.75) - to OCI - - (0.07) - - - (0.07) As at 31 March 2022 - 350.16 (64.41) (22.93) (8.69) (22.26) 231.87 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Standalone