Good Health Can’t Wait.

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Good Health Can’t Wait. Dr. Reddy’s Laboratories Limited NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in Indian Rupees millions, except share data and where otherwise stated) 2.35: EMPLOYEE BENEFIT PLANS (CONTINUED) Amount recognized in the balance sheet PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 Present value of funded obligations 1,236 1,040 Fair value of plan assets (1,157) (908) Net liability 79 132 Expense recognized in statement of profit and loss PARTICULARS FOR THE YEAR ENDED 31 MARCH 2015 FOR THE YEAR ENDED 31 MARCH 2014 Current service cost 136 116 Interest on defined benefit obligation 99 74 Expected return on plan assets (80) (56) Net actuarial losses / (gains) recognized in the year 2 31 Amount included in employee benefit expense 157 165 Actual return on plan assets 123 70 Contributions: The Company expects to contribute ` 100 to the Gratuity Plan during the year ending 31 March 2016. Asset information CATEGORY OF ASSETS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 Government of India securities - - Corporate bonds - - Insurer managed funds 99% 99% Others 1% 1% Total 100% 100% Summary of actuarial assumptions PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 Discount rate 8.00% p.a. 9.00% p.a. Expected rate of return on plan assets 8.00% p.a. 9.00% p.a. Salary escalation rate 10% p.a. for first two years & 9% p.a. thereafter 11% p.a. for first two years & 10% p.a. thereafter Discount rate:The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date for the estimated term of the obligations. Expected rate of return on plan assets: This is based on the expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations. Salary escalation rate: The estimate of future salary increases considered takes into account the inflation, seniority, promotion and other relevant factors. Amounts recognized in current year and previous four years PARTICULARS AS AT/ FOR THE YEAR ENDED 31 MARCH 2015 2014 2013 2012 2011 Defined benefit obligation 1,236 1,040 875 646 584 Plan assets 1,157 908 707 624 490 Surplus / (deficit) (79) (132) (168) (22) (94) Experience Adjustment on Plan Liabilities 27 42 26 23 28 Experience Adjustment on Plan Assets 43 15 7 6 5 210
Consolidated Financial Statements Annual Report 2014 - 15 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in Indian Rupees millions, except share data and where otherwise stated) 2.35: EMPLOYEE BENEFIT PLANS (CONTINUED) 2.35.2 Pension plan of Industrias Quimicas Falcon de Mexico S.A. de C.V. All employees of the Company’s Mexican subsidiary, Industrias Quimicas Falcon de Mexico S.A. de C.V. (“Falcon”), are entitled to a pension benefit in the form of a defined benefit pension plan. The Falcon pension plan provides for payment to vested employees at retirement or termination of employment. Liabilities in respect of the pension plan are determined by an actuarial valuation, based on which the Company makes contributions to the pension plan fund. This fund is administered by a third party, who is provided guidance by a technical committee formed by senior employees of Falcon. The disclosure particulars of aforesaid pension plan as required under AS-15 (Revised) are shown in the below tables: Reconciliation of the present value of the defined benefit obligation PARTICULARS FOR THE YEAR ENDED 31 MARCH 2015 FOR THE YEAR ENDED 31 MARCH 2014 Opening defined benefit obligation 253 301 Current service cost 12 17 Interest cost 19 22 Actuarial losses / (gains) 37 (72) Benefits paid (42) (29) Foreign exchange differences (27) 14 Closing defined benefit obligation 252 253 Change in the fair value of plan assets PARTICULARS FOR THE YEAR ENDED 31 MARCH 2015 FOR THE YEAR ENDED 31 MARCH 2014 Opening fair value of plan assets 110 125 Expected return on plan assets 9 13 Actuarial gains / (losses) (2) (5) Contributions by employer 3 - Benefits paid (42) (29) Foreign exchange differences (10) 6 Closing fair value of plan assets 68 110 Amount recognized in the balance sheet PARTICULARS AS AT 31 MARCH 2015 AS AT 31 MARCH 2014 Present value of funded obligations 252 253 Fair value of plan assets (68) (110) Net liability 184 143 Expense recognized in the statement of profit and loss PARTICULARS FOR THE YEAR ENDED 31 MARCH 2015 FOR THE YEAR ENDED 31 MARCH 2014 Current service cost 12 17 Interest on defined benefit obligation 19 22 Expected return on plan assets (9) (13) Net actuarial losses / (gains) recognized in the year 39 (68) Amount included in employee benefit expense 61 (42) Actual return on plan assets 8 8 Contributions: The Company expects to contribute `41 to the Falcon pension plan during the year ending 31 March 2016. 211
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ANNUAL REPORT 2014-15 Good Health C
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Our Brand We are in the business of
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Corporate Overview Annual Report 20
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Good Health Can’t Wait.

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