MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

336 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Defined benefit plans - Actuarial valuation as on 31 st March, 2022 Rupees crores Particulars Funded Plan Unfunded Plans Gratuity Gratuity* Post retirement medical benefits Post retirement housing allowance 2022 2021 2022 2021 2022 2021 2022 2021 1 Amounts recognised in profit or loss Current service cost................. 96.81 96.36 19.47 213.25 3.12 2.28 1.30 2.37 Past service cost....................... — (21.06) — — 0.01 — 35.39 1.02 Net interest expense............... 3.70 2.47 3.17 43.46 3.26 2.39 5.32 5.53 Total amount included in employee benefits expense . ... 100.51 77.77 22.64 256.71 6.39 4.67 42.01 8.92 * Gratuity expenses relating to discontinued operations Nil (2021: Rs. 217.41 crores) 2 Amounts recognised in other comprehensive income Remeasurement (gains)/ losses: a) A ctuarial (gains)/losses arising from changes in - – d emographic assumptions.................... (15.96) 2.36 1.13 0.10 (7.93) (0.08) — — – financial assumptions.... (52.80) 35.31 4.51 6.38 (3.14) 3.29 (7.27) 3.66 – experience adjustments. 52.56 (43.88) (3.16) (2.90) 0.41 10.79 2.16 (1.78) b) Return on plan assets, excluding amount included in net interest expense/ (income)............. (8.78) (13.27) — — — — — — c) Actuarial (gains)/losses of discontinued operations.... — — — (90.35) — — — — Total amount recognised in other comprehensive income. (24.98) (19.48) 2.48 (86.77) (10.66) 14.00 (5.11) 1.88 3 Changes in the defined benefit obligation Opening defined benefit obligation................................ 1,240.08 1,211.25 312.11 2,570.85 52.46 35.31 88.17 83.50 Current service cost................ 96.81 96.36 19.47 213.25 3.12 2.28 1.30 2.37 Past service cost...................... — (21.06) — — 0.01 — 35.39 1.02 Interest expense. .................... 63.71 61.45 3.17 43.46 3.26 2.39 5.32 5.53 Remeasurements (gains)/ losses........................................ (16.20) (6.21) 2.48 (86.77) (10.66) 14.00 (5.11) 1.88 Benefits paid........................... (118.74) (98.18) (11.51) (39.61) (1.65) (1.52) (7.96) (6.13) Business combination............. — — 0.66 — — — — — Disposal / deconsolidation of subsidiaries.............................. — (4.08) (6.01) (2,583.82) — — — — Change in plan on common control transaction................. 41.93 — (41.93) — — — — — Foreign exchange translation difference................................ (6.85) 0.55 (28.77) 194.75 — — — — Closing defined benefit obligation................................ 1,300.74 1,240.08 249.67 312.11 46.54 52.46 117.11 88.17 34. Employee Benefits (contd.)