36. Fair value hierarchy (i) Financial assets and financial liabilities at fair value on a recurring basis as of the reporting dates are as follows: As at 31 March 2023 31 March 2022 Financial assets Fair value hierarchy (Level 1) Quoted equity shares 0.30 0.20 Fair value hierarchy (Level 3) Unquoted equity shares 2.60 2.60 There are no transfers between levels during the current year and previous year ended 31 March 2023 and 31 March 2022 respectively. The Group’s policy is to recognise transfers into and transfers out of fair value hierarchy levels at the end of the reporting period. (ii) Valuation technique and inputs used for level 3 instruments: The fair value of the level 3 instruments has been estimated using the discounted cash fl ow model. The valuation requires management to make certain assumptions about the model inputs, including forecasting of cash fl ows, discount rate, credit risk and volatility. The probabilities of the various estimates within the range can be reasonably assessed and are used in the management’s estimate of the fair value for these level 3 instruments. The signifi cant unobservable inputs used in the fair value measurement categorised within Level 3 of the fair value hierarchy as at 31 March 2023 and 31 March 2022 are as shown below. Significant unobservable inputs Assumption made Future growth rate 3% Discount rate 20% Discount for lack of marketability 15% (iii) Reconciliation of level 3 fair value measurement: Amount As at 1 April 2021 2.60 Changes during the year - As at 31 March 2022 2.60 Changes during the year - As at 31 March 2023 2.60 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) 293 Consolidated | Financial Statements
RkJQdWJsaXNoZXIy NTE5NzY=