Annual report 2012-2013 - Grasim

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NOTES FORMING PART OF THE FINANCIAL STATEMENTS Grasim Industries Limited - Annual Report 2012-2013 4.6.1.2 Compensated Absences: The obligation for compensated absences is recognised in the same manner as gratuity, amounting to charge of ` 2.88 Crore (Previous Year ` 2.12 Crore). 4.6.2 Defined Contribution Plans: Amount recognised as expense and included in the Note 3.7 as “Contribution to Provident and Other Funds” ` 22.50 Crore (Previous Year ` 20.04 Crore). 4.7 DISCLOSURE OF DERIVATIVE INSTRUMENTS 4.7.1 Derivatives for hedging currency and interest rate, outstanding are as under: In Crore Amount in Foreign Currency Purpose Foreign Cross Current Previous Currency Currency Year Year (a) Forward Contracts Import USD 0.92 1.88 INR (Payables) Overseas Direct Investment CAD 0.25 - USD PCFC (Loan) USD 1.50 - INR (b) Currency and Interest Rate Swaps ECB JPY 130.07 201.67 INR STANDALONE FINANCIAL STATEMENTS 4.7.2 Unhedged Foreign Currency Exposure: Foreign Currency Amount in Foreign Currency Equivalent ` Current Previous Current Previous Year Year Year Year Exports (Receivables) USD 2.71 2.35 147.23 119.56 Euro 0.16 1.50 10.99 76.31 Imports (Payables) USD 0.38 1.45 20.67 73.77 Euro - 0.02 - 1.02 Bank Balance USD 0.10 - 5.60 - Loans (Receivables) CAD 0.68 0.71 36.07 36.24 104
Grasim Industries Limited - Annual Report 2012-2013 NOTES FORMING PART OF THE FINANCIAL STATEMENTS Current Year ` in Crore Previous Year 4.8 ADDITIONAL INFORMATION DETAILS 4.8.1 Value of Imports (on CIF Basis): (i) Raw Materials 1,150.83 836.42 (ii) Components and Spare Parts 18.01 16.27 (iii) Capital Goods 637.49 166.84 4.8.2 Value of Imported and Indigenous Raw Materials and Stores and Spares Consumed: Current Year Previous Year Value % Value % ` in Crore ` in Crore Raw Materials: Imported 1,220.68 47% 1,004.44 42% Indigenous 1,393.14 53% 1,400.89 58% Total 2,613.82 100% 2,405.33 100% Stores and Spares: Imported 13.83 9% 18.33 13% Indigenous 142.52 91% 126.94 87% Total 156.35 100% 145.27 100% 4.8.3 Expenditure in Foreign Currency on Accrual Basis (Gross): (i) Technical Know-how and Services 2.57 - (ii) Professional and Consultancy Fees 5.56 5.40 (iii) Finance Cost on Foreign Currency Loans 4.98 13.43 (iv) Others 9.17 9.34 4.8.4 Earnings in Foreign Exchange on Accrual Basis (Gross): (i) Export of Goods on FOB Basis 1,263.14 1,118.78 (ii) Technical Know-how and Service Charges 0.24 0.21 (iii) Interest and Dividend 14.66 19.51 (iv) Sale of Fixed Asset 5.27 - (v) Others 1.17 1.93 4.8.5 Assets Taken on Operating Lease: 1 Operating Lease Payments recognised in the Statement of Profit and Loss 7.46 4.76 2 The total of future minimum lease payments under non-cancellable operating leases are as follows: For a period not later than one year 2.35 2.35 For a period later than one year and not later than five years 1.17 3.52 For a period later than five years - - 3 General Description of Leasing Agreements: (i) (ii) Lease Assets: Godowns, Offices, Flats and Others Future Lease Rentals are determined on the basis of agreed terms (iii) At the expiry of lease terms, the Company has an option to return the assets or extend the term by giving notice in writing 4.8.6 Amount Remitted during the year in Foreign Currency on account of Dividend: (i) Equity Dividend for the year ended 31-03-2012 31-03-2011 (ii) Number of Non-Resident Equity Shareholders 141 147 (iii) Number of Shares held by them 26,44,278 26,45,576 (iv) Amount Remitted as Dividend (` in Crore) 5.95 5.29 STANDALONE FINANCIAL STATEMENTS 105 ⊳
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