Annual Report 2011 - 2012 - United Breweries Limited
Annual Report 2011 - 2012 - United Breweries Limited
Annual Report 2011 - 2012 - United Breweries Limited
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Notes to the Consolidated Financial Statements (contd.)<br />
(All amounts in Rs.lacs, unless otherwise stated)<br />
Year ended<br />
March 31, <strong>2012</strong> March 31, <strong>2011</strong><br />
28. CHANGES IN INVENTORIES OF FINISHED GOODS,<br />
WORK-IN-PROGRESS AND STOCK-IN-TRADE<br />
Stock at the end of the year:<br />
Finished goods 5,353 2,954<br />
Finished goods - Traded 1 46<br />
Work-in-progress 12,732 8,416<br />
18,086 11,416<br />
Less: Stock at the beginning of the year:<br />
Finished goods 2,954 2,134<br />
Finished goods - Traded 46 198<br />
Work- in- progress 8,416 6,233<br />
Stock of amalgamated entities - Finished goods 42 525<br />
Stock of amalgamated entities - Work-in-progress 409 2,197<br />
11,867 11,287<br />
(Increase)/decrease in stocks (6,219) (129)<br />
Excise duty movement on closing stock 4,394 466<br />
Total (1,825) 337<br />
29. EMPLOYEE BENEFITS EXPENSE<br />
Salaries, wages and bonus 16,531 12,405<br />
Gratuity 343 305<br />
Contribution to provident and other funds 846 623<br />
Welfare expenses 1,409 1,081<br />
Total 19,129 14,413<br />
(i) Disclosures envisaged in AS 15 in respect of defined benefit plans (Grautity and Provident fund<br />
administered by a trust setup by the company) are given below:<br />
<strong>2012</strong> <strong>2011</strong> 2010 2009 2008<br />
Gratuity Provident<br />
fund<br />
Gratuity<br />
A) Reconciliation of opening and closing<br />
balances of the present value of the<br />
defined benefit obligation:<br />
Obligations at period beginning 1,878 3,434 1,614 1,539 1,426 1,161<br />
Obligation at period beginning from<br />
Amalgamation 37 — 97 — — —<br />
Service cost 326 680 226 85 130 435<br />
Interest cost 156 284 126 118 96 93<br />
Benefits settled (158) (172) (234) (125) (109) (260)<br />
Actuarial (gain)/loss (20) (4) 49 (3) (4) (3)<br />
Obligations at period end 2,219 4,222 1,878 1,614 1,539 1,426<br />
B) Change in plan assets<br />
Plan assets at period beginning, at fair value 1,639 3,490 1,542 1,331 1,365 1,161<br />
Plan assets at period beginning from<br />
Amalgamation 37 — 54 — — —<br />
Expected return on plan assets 128 308 125 102 107 93<br />
Actuarial gain/(loss) (10) 50 (13) (17) (76) 108<br />
Contributions 20 658 159 251 44 263<br />
Benefits settled (158) (172) (228) (125) (109) (260)<br />
Plan assets at period end, at fair value 1,656 4,334 1,639 1,542 1,331 1,365<br />
88
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