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

349 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2021-22 36. Financial Instruments (contd.) (e) Fair Value Disclosures (contd.) (i) 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 Investment in debentures/ bonds etc Derivatives on interest over Subsidiaries and joint ventures (Net) Gross obligation to acquire non-controlling interest Year Ended 31 st March, 2022 Opening balance ............................................................. 144.38 93.00 78.39 (507.96) Total gains or losses recognised: a) in profit/(loss).......................................................... 4.28 (12.41) (7.90) 54.40 b) in other comprehensive income............................ (48.99) — — — Purchase during the year. .............................................. 9.30 — — — Disposal during the year. ............................................... (3.00) (14.83) — — Exercise of put option. ................................................... — — (0.81) 75.78 Adjustment for share of losses of joint ventures......... — 4.37 — — Exchange differences...................................................... 0.66 — — 6.92 Closing balance . .............................................................. 106.63 70.13 69.68 (370.86) Year Ended 31 st March, 2021 Opening balance ............................................................. 155.58 101.86 75.85 (573.83) Total gains or losses recognised: a) in profit/(loss).......................................................... 1.03 5.38 (0.31) 58.10 b) in other comprehensive income............................ (42.83) — — — Purchase during the year .............................................. 38.05 — — — Disposal / conversion into equity during the year....... (2.20) (7.66) 2.85 — Exercise of put option ................................................... — — — 8.20 Deconsolidation of subsidiary........................................ (3.56) — — — Adjustment for share of losses of joint ventures......... — (6.58) — — Exchange differences...................................................... (1.69) — — (0.43) Closing balance . .............................................................. 144.38 93.00 78.39 (507.96) Equity Investments designated at FVTOCI Rupees crores Particulars 2022 2021 Investment in quoted and unquoted equity instruments: Fair value of investments. ....................................................................................................................... 306.14 370.98