annual-report-FY2021

272 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 6. Fair Value Disclosures (contd.) (a) Financial Instruments regularly measured using Fair Value - recurring items (contd.) Reconciliation of Level 3 fair value measurements of financial instruments measured at fair value Rupees crores Particulars Unquoted Equity investment Derivatives on Interest in Subsidiaries, Associates and Joint Ventures (Net) Investments in Optionally Convertible Preference Shares/Optionally Convertible Debentures Total Year Ended 31 st March, 2021 Opening balance of fair value ....................................... 30.62 24.41 37.73 92.76 Total incomes/gains or losses recognised: — in profit or loss. ...................................................... — (38.68) 8.56 (30.12) unrealised gains or losses during the year related to assets & liabilities existing on balance sheet date — (38.68) 8.56 (30.12) Fair value of: — purchases/contracts entered during the year....... 35.00 — — 35.00 — disposals/contracts realised during the year......... — 2.85 — 2.85 Closing balance of fair value ......................................... 65.62 (11.42) 46.29 100.49 Year Ended 31 st March, 2020 Opening balance of fair value ....................................... 0.31 272.20 — 272.51 Total incomes/gains or losses recognised: — in profit or loss. ...................................................... — (156.03) (30.27) (186.30) unrealised gains or losses during the year related to assets & liabilities existing on balance sheet date — (156.03) (30.27) (186.30) Fair value of: — purchases/contracts entered during the year....... 30.46 (10.07) 68.00 88.39 — disposals/contracts realised during the year......... (0.15) (81.69) — (81.84) Closing balance of fair value ......................................... 30.62 24.41 37.73 92.76 (b) Financial Instruments not measured using Fair Value i.e. measured using amortized cost Rupees crores Particulars Carrying Value Fair value (Level 2) As at 31 st March, 2021 Non Current Investments 6.50% Cumulative Redeemable Non-convertible and Non participating Preference shares : Mahindra Vehicle Manufacturers Limited......................................................................................... 600.00 558.80 Non Current Loans Mahindra Overseas Investment Company (Mauritius) Limited....................................................... 1,514.77 1,518.60 Non Current Borrowings — Debentures................................................................................................................................... 3,463.75 3,562.18 — Term Loans. .................................................................................................................................. 3,050.00 3,050.00 34. Financial instruments (contd.)