2007-08 - Aditya Birla Nuvo, Ltd

SCHEDULES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTSRs. CroresParticulars FY 2008 FY 2007b) Assets given under Operating LeaseThe Gross carrying amount of the above referred assets 4.90 4.90The accumulated depreciation for the above assets 1.36 1.12The depreciation for the above assets for the year 0.23 0.23The future minimum lease rental in respect ofaforesaid lease is as follows:i) Not later than one year 1.71 1.70ii) Later than one year and not later than five years 2.53 2.95iii) Later than five years 0.46 0.54CONSOLIDATED ACCOUNTS15. Derivatives Informationa) The Company, time to time, holds financial derivatives instruments primarily for hedging purposes. In pursuanceof the announcement dated 29 th March, 2008, of the ICAI, the Company has decided to account for losses, ifany, on derivative transactions, on net basis, after considering effects of underlying exposures/commitments/obligations. As there was no such loss at the end of the year, the above change does not have any effect onthe profit for the year.b) Derivatives : Outstanding as at Balance Sheet DateAmount in Foreign Currency2008 2007PurposeCurrency & Interest Rate Swap USD — 2,000,000 Hedging of LoanCurrency & Interest Rate Swap Jyen 12,426,028,000 7,906,372,000 Hedging of LoanBuyers Credit Jyen 8,110,215,428 — Hedging of LoanBuyers Credit USD 99,802,055 31,906,071 Hedging of LoanForward Contracts USD 144,178,895 65,291,603 Hedging PurposeForward Contracts Jyen 4,027,483,886 32,100,000 Hedging PurposeForward Contracts Euro 2,808,522 229,513 Hedging PurposeForward Contracts GBP 4,714,985 1,159,000 Hedging PurposeForward Contracts CAD 20,530,000 — Hedging PurposeForward Contracts AUD 5,900,726 — Hedging PurposeBought Options to Sell 24,000,000 70,000,000 Hedging PurposeSold Options to Buy 24,000,000 101,000,000 Hedging Purpose(144)