Download latest annual report - HT Media

Annual Report 2011-12
82
The overall expected rate of return on assets is determined based on the market prices prevailing on that date, applicable to the
year over which the obligation is to be settled.
The principal assumptions used in determining gratuity obligations for the Company’s plans are shown below:
(` in lacs)
Particulars As at
As at
31 March, 2012 31 March, 2011
Discount Rate 8.50% / 7.80% 7.80%
Future Salary Increase* 5%/ 8% 4%/ 8%
Expected rate of return on plan assets
Employee turnover:
8%/0% 8%
- upto 30 years* 3%/8% 3%/8%
- from 31 to 44 years* 2%/7% 2%/7%
- above 44 years* 1%/0% 1%/0%
* Percentages are in respect of Print Business and Radio Business respectively
The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and
other relevant factors on long term basis. The Company expects to contribute `213.10 lacs (Previous year `233.53 Lacs) to
gratuity fund during the year 2012-13
Disclosure of the amount required by paragraph 120(n) of AS-15 for the year 2007-08 is not be given as the Company has
adopted the standard from the year 2008-09.
Particulars As at
As at
As at
(` in lacs)
As at
31 March, 2012 31 March, 2011 31 March, 2010 31 March, 2009
Defined Benefit Obligation 1,349.99 1,118.36 1,048.61 1,108.08
Plan Assets 1,059.08 886.25 896.49 832.92
Deficit (290.91) (232.11) (152.12) (275.16)
Experience Adjustment on Plan Liabilities- (Gain)/Loss 12.64 54.61 (34.78) 81.13
Experience Adjustment on Plan Assets- (Gain)/Loss 5.14 (66.72) 131.34 (119.91)
Recognized Under
Particulars As at
(` in lacs)
As at
31 March, 2012 31 March, 2011
Long Term Provisions 75.87 57.30
Short Term Provisions 215.04 174.81
Defined Contribution Plan:
Particulars As at
(` in lacs)
As at
Long Term Provisions
31 March, 2012 31 March, 2011
Charged to Profit and Loss Account 944.81 861.45
38. Interest in Joint Venture Company.
a) During the year, the Company sold its entire investment in the equity share capital of Joint Venture Company namely,
Metropolitan Media Company Private Limited (MMCPL), to Joint Venture Partner for a lump sum consideration of `600
lacs. This consideration is included in ‘Other Income’ as the investment was fully provided for in the books in earlier years.