Heritage Foods Limited | 30th Annual Report 2021-22

Financial Statements Company Overview Statutory Reports 217 (iii) Reconciliation of present value of projected benefit obligation and fair value of plan assets As at 31 March 2022 31 March 2021 Present value of projected benefit obligation 151.58 139.30 Funded status of plan assets 159.32 140.14 Liability recognised in the Consolidated Balance Sheet - 2.06 Asset recognised in the Consolidated Balance Sheet 7.74 2.90 (iv) Expense recognized in the Consolidated Statement of Profit and Loss For the year ended 31 March 2022 31 March 2021 Interest cost 7.81 6.84 Service cost 16.90 14.97 Interest income (8.53) (7.36) 16.18 14.45 (v) Expense recognized in OCI For the year ended 31 March 2022 31 March 2021 Actuarial loss, net 0.72 5.13 0.72 5.13 (vi) Key actuarial assumptions As at 31 March 2022 31 March 2021 Discount rate 5.60% - 6.30% 4.90% - 5.90% Salary escalation rate 8.00% 8.00% Attrition rate 15%- 30% 15%- 30% (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) 6.95 7.81 Salary escalation rate (1% movement) 7.26 6.64 Attrition rate (1% movement) 0.83 0.95 (viii) The Group 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: As at 31 March 2022 31 March 2021 Within one year 30.45 26.95 Within two to five years 95.66 87.03 More than five years 127.86 113.61 253.97 227.59 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Consolidated