Annual Report 2009-10 - United Breweries Limited

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19. Consumption:Notes on Accounts for the year ended March 31, 2010 (contd.)ParticularsValue2010 2009Percentage to totalConsumptionValueRs. in ThousandsPercentage to totalConsumptionValue of Imported Raw Materials Consumed 153,898 6 133,622 6Value of indigenous Raw MaterialsConsumedValue of Imported Packing materials andstores and Spares ConsumedValue of indigenous Packing materials andstores and Spares Consumed2,367,678 94 2,007,526 94360,763 7 854,216 214,835,541 93 3,180,920 7920. Expenditure in Foreign Currency:Particulars 2010 2009Foreign Travel expenses of employees and others (net of recoveries) 11,717 9,152Management Fees 45,000 —Selling and Distribution expenses 117,617 169,725Interest and Finance charges 54,028 167,181Others 4,214 1,02821. Earnings in Foreign Exchange:Particulars 2010 2009Services – Royalty 9,422 10,04322. Details of Dividend:Particulars 2010 2009Dividend payable on Preference Share Capital @3% 74,070 74,070Dividend Distribution tax payable on above 12,588 12,588Interim Dividend paid on Equity Shares @15% — 36,007Dividend Distribution tax paid on above — 6,120Final Dividend payable on Equity Shares @36% (2009: 15%) 86,417 36,007Dividend Distribution tax payable on above 14,353 6,120Total 187,428 170,91223. Details of Dividend paid in Foreign Currency:Particulars 2010 2009Number of non-resident shareholders 1 1Number of Equity Shares held on which dividend was due 89,994,960 89,994,960Amount remitted 13,499 13,499Number of Preference Share held on which dividend was due 24,690,000 24,690,000Amount remitted 74,070 74,07050
Notes on Accounts for the year ended March 31, 2010 (contd.)24. (i) Disclosures envisaged in AS 15 in respect of gratuity are given below:Rs. in ThousandsParticulars 2010 2009 2008A) Reconciliation of opening and closing balances ofthe present value of the defined benefit obligation:Obligations at period beginning 153,948 142,593 116,056Service Cost 8,369 13,052 43,502Interest cost 11,818 9,601 9,284Benefits settled (12,456) (10,881) (25,964)Actuarial (gain)/loss (250) (417) (285)Obligations at period end 161,429 153,948 142,593B) Change in plan assetsPlan assets at period beginning, at fair value 133,055 136,455 116,056Expected return on plan assets 10,155 10,657 9,284Actuarial gain/(loss) (1,698) (7,569) 10,799Contributions 25,109 4,393 26,280Benefits settled (12,456) (10,881) (25,964)Plan assets at period end, at fair value 154,165 133,055 136,455C) Reconciliation of present value of the obligation andthe fair value of the plan assets:Fair value of plan assets at the end of the year 154,165 133,055 136,455Present value of the defined benefit obligations at the endof the period161,429 153,948 142,593Liability recognised in the balance sheet (7,265) (20,893) (6,138)D) Details of Gratuity costService cost 8,369 13,052 43,502Interest cost 11,818 9,601 9,284Expected return on plan assets (10,155) (10,657) (9,284)Prior Period Adjustment — — (23,739)Actuarial (gain) /loss 1,447 6,243 6,243Net gratuity/cost 11,479 18,239 26,006E) Description of the basis used to determine theoverall expected rate of return on assets includingmajor categories of plan assets.The expected return is calculated on the average fundbalance based on the mix of investments and theexpected yield on them.Actual return on plan assets (Value) 12,371 7,001 23,997Actual return on plan assets 8,457 3,087 20,083F) AssumptionsInterest rate 8.00% 7.00% 8.00%Discount factor 8.00% 7.00% 8.00%Estimated rate of return on plan assets 8.00% 8.00% 8.00%Salary Increase 5.00% 5.00% 5.00%Attrition rate 1.00% 1.00% 1.00%Retirement age 58 58 58The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion andother relevant factors such as supply and demand factors in the Employment market.51
Page 6: Report of the Directors (contd.)Unl
Page 12 and 13: Report on Corporate Governance (con
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Page 30 and 31: Balance Sheet as at March 31, 2010R
Page 32 and 33: Cash Flow Statement for the year en
Page 34 and 35: Schedules to Balance SheetRs. in Th
Page 36 and 37: Schedules to Balance Sheet (contd.)
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Page 44 and 45: Notes on Accounts for the year ende
Page 48 and 49: 14. Remuneration to Auditors:Notes
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Page 58 and 59: Consolidated Balance Sheet as at Ma
Page 62 and 63: Schedules to Consolidated Balance S
Page 68 and 69: Schedules to Consolidated Profit an
Page 70 and 71: Significant Accounting Policies for
Page 72 and 73: Notes on Consolidated Accounts for

Annual Report 2009-10 - United Breweries Limited

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