Page 156 - FBL AR 2019-20

Fermenta Biotech Limited
Annual Report 2019-20

Notes to the Standalone financial statements for the year ended March 31, 2020

45 Employee benefits (contd.)
(a) Movements in the present value of the defined benefit obligation are as follows:
( H in Lakhs )
March 31, 2020 March 31, 2019
Opening defined benefit obligation 550.11 322.32
Interest cost 39.00 22.99
Current service cost 73.16 40.14
Past service cost - -
Benefits paid (26.35) (22.13)
Actuarial (Gain)/loss on obligations - due to changes in financial assumptions (211.27) 143.52
Actuarial (Gain)/loss on obligations - due to changes in demographic assumptions 15.80 (0.11)
Actuarial (Gain)/loss on obligations - due to changes in experience adjustment (45.40) 43.38
Closing defined benefit obligation 395.05 550.11

(b) Movements in the fair value of the plan assets are as follows:
( H in Lakhs )
March 31, 2020 March 31, 2019
Opening fair value of plan assets 274.79 250.48
Employer's contributions 23.33 27.81
Interest income 19.42 18.35
Remeasurement gain / (loss) :
Return on plan assets (excluding amounts included in net interest expense) (0.24) 0.28
Benefit paid (26.35) (22.13)
Closing fair value of plan assets 290.95 274.79

c) Reconciliation of fair value of plan assets and defined benefit obligation:
The amount included in the Standalone financial statements arising from the Company’s obligation in respect of its defined
benefit obligation plan is as follows:
( H in Lakhs )
March 31, 2020 March 31, 2019
Fair value of plan assets 290.95 274.79
Present value of defined benefit obligation 395.05 550.11
Amounts recognised in the Standalone balance sheet surplus/(deficit) (104.10) (275.32)

d) The amount recognised in Standalone statement of profit and loss in respect of the defined benefit plan are as follows:
( H in Lakhs )
March 31, 2020 March 31, 2019
Current service cost 73.16 40.14
Past service cost - -
Net interest expense / (income) 19.58 4.64
Components of defined benefit costs recognised in Standalone statement of 92.74 44.78
profit and loss
e) The amount recognised in other comprehensive income in respect of the defined benefit plan is as follows:
( H in Lakhs )
March 31, 2020 March 31, 2019
Remeasurement on the net defined benefits liability:
Return on plan assets (excluding amounts included in net interest expense) (0.24) 0.28
Actuarial gains /(losses) arising from changes in financial assumptions 211.27 (143.52)
Actuarial gains /(losses) arising from changes in demographic assumptions (15.80) 0.11
Actuarial gains /(losses) arising from changes in experience adjustments 45.40 (43.38)
Components of defined benefit recognised as income / (loss) in other 240.63 (186.51)
comprehensive income

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