EXCEL CROP CARE LIMITED C O N T E N T S - BSE

EXCEL CROP CARE LIMITED
SCHEDULE FORMING PART OF THE CONSOLIDATED BALANCE SHEET AND THE CONSOLIDATED PROFIT AND LOSS ACCOUNT
SCHEDULE 'U' (Contd.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Current Year Previous Year
(f) The principal actuarial assumptions at the Balance Sheet date.
Excel Crop Care Limited
Discount rate 8% 7.75%
Expected rate of return on plan assets 9% 9%
Expected rate of salary increase 10% 8%
Mortality table LIC (1994-96) LIC (1994-96)
Ultimate Ultimate
Proportion of employees opting for early retirement 1% to 5% 1% to 5%
Excel Genetics Limited
Discount rate 8.50% 8.25%
Expected rate of return on plan assets — —
Expected rate of salary increase 6% 6%
Mortality table LIC (1994-96) LIC (1994-96)
Ultimate Ultimate
Proportion of employees opting for early retirement 1% to 5% 1% to 5%
NOTES:
(i) The estimates of future salary increases, considered in actuarial valuation, takes account of inflation,
seniority, promotion and other relevant factors such as supply and demand in the employment
market.
(ii) Amounts for the current and previous four periods as per Para 120(n)(i) of Accounting Standard 15
‘Employee Benefits’ (Revised, 2003) (‘AS-15’) are as follows:
2011 2010
Gratuity (` in lacs)
2009 2008 2007
Defined benefit obligation 24,59.00 20,66.06 16,30.40 12,53.03 3,33.91
Plan assets 22,26.17 16,58.38 14,11.97 11,67.78 —
Surplus / (deficit) (2,32.83) (4,07.68) (2,18.43) (85.25) (3,33.91)
Experience adjustments on plan liabilities 63.00 1,00.79 * * *
Experience adjustments on plan assets 20.43 58.36 * * *
* The disclosure required under Para 120(n)(ii) of AS-15 pertaining to experience adjustments on plan assets and plan liabilities is not given as
such information is not available with the Group.
II. Defined Contribution Plans
(i) Provident Fund is a defined contribution scheme established under a State Plan.
(ii) Superannuation Fund is a defined contribution scheme. The scheme is funded with an insurance
company in the form of a qualifying insurance policy.
(iii) Defined Contribution Plan Current Year Previous Year
Current service cost included under the head Personnel Expenses in Schedule ‘R’ Manufacturing and
Other Expenses.
(` in lacs) (` in lacs)
Provident Fund and Family Pension Fund 2,05.30 1,83.98
Superannuation Fund 99.74 83.30
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