annual-report-FY2021

335 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2020-21 Defined benefit plans - Actuarial valuation as on 31 st March, 2021 Rupees crores Funded Plan Unfunded Plans Gratuity Gratuity* Post retirement medical benefits Post retirement housing allowance Particulars 2021 2020 2021 2020 2021 2020 2021 2020 1 Amounts recognised in profit or loss Current service cost........ 96.36 114.00 213.25 293.25 2.28 3.08 2.37 3.16 Past service cost.............. (21.06) (10.91) — — — — 1.02 12.52 Net interest expense 2.47 10.03 43.46 57.68 2.39 3.46 5.53 4.77 Total amount included in employee benefits expense ........................... 77.77 113.12 256.71 350.93 4.67 6.54 8.92 20.45 * Gratuity expenses relating to discontinued operations Rs. 217.41 crores (2020: Rs. 290.07 crores) 2 Amounts recognised in other comprehensive income Remeasurement (gains)/ losses: a) Actuarial (gains)/ losses arising from changes in -............... – demographic assumptions............ 2.36 (15.18) 0.10 (0.79) (0.08) (7.41) — — – financial assumptions............ 35.31 (6.87) 6.38 14.00 3.29 2.53 3.66 4.13 – experience adjustments............ (43.88) (11.43) (2.90) 7.76 10.79 (12.49) (1.78) (2.07) b) Return on plan assets, excluding amount included in net interest expense/ (income)..................... (13.27) 3.87 — — — — — — c) Actuarial (gains)/ losses of discontinued operations. ................ — — (90.35) (10.59) — — — — Total amount recognised in other comprehensive income............................. (19.48) (29.61) (86.77) 10.38 14.00 (17.37) 1.88 2.06 3 Changes in the defined benefit obligation Opening defined benefit obligation........................ 1,211.25 1,170.95 2,570.85 2,286.95 35.31 47.13 83.50 65.19 Current service cost........ 96.36 114.00 213.25 293.25 2.28 3.08 2.37 3.16 Past service cost.............. (21.06) (10.91) — — — — 1.02 12.52 Interest expense. ............ 61.45 69.35 43.46 57.68 2.39 3.46 5.53 4.77 Remeasurements (gains)/ losses................................ (6.21) (33.48) (86.77) 10.38 14.00 (17.37) 1.88 2.06 Benefits paid................... (98.18) (110.75) (39.61) (143.43) (1.52) (0.99) (6.13) (4.20) 31. Employee Benefits (contd.)