MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

274 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 35. Employee Benefits (contd.) A. Details of defined benefit plans as per actuarial valuation are as below: Rupees crores Particulars Funded Plan Unfunded Plans Gratuity Post retirement medical Post retirement housing allowance 2023 2022 2023 2022 2023 2022 i Amounts recognised in profit or loss Current service cost................................................................................ 69.85 70.17 1.99 2.88 2.42 1.30 Past service cost........................................................................................ — (0.38) — — — 35.39 Net interest expense/(income)......................................................... (1.80) (0.44) 3.02 3.15 7.83 5.32 Total amount included in employee benefits expense 68.05 69.35 5.01 6.03 10.25 42.01 ii Amounts recognised in other comprehensive income Remeasurement (gains)/losses: a) Actuarial (gains)/losses arising from changes in - – financial assumptions................................................................. (32.84) (42.99) (2.42) (3.09) (5.03) (7.27) – demographic assumptions....................................................... — (13.31) — (7.92) — — – experience adjustments............................................................ 0.38 47.42 1.79 0.37 (1.33) 2.16 b) Return on plan assets, excluding amount included in net interest expense/ (income)......................................... (2.10) (9.57) — — — — Total amount recognised in other comprehensive income............................................................................................................... (34.56) (18.45) (0.63) (10.64) (6.36) (5.11) iii Changes in the defined benefit obligation Opening defined benefit obligation............................................... 910.20 880.42 44.66 50.89 117.11 88.17 Acquisitions through business combinations [Refer note 44 (B)] / Inter company transfers..................... 14.19 8.63 — — — — Current service cost................................................................................ 69.85 70.17 1.99 2.88 2.42 1.30 Past service cost........................................................................................ — — — — — 35.39 Interest expense......................................................................................... 58.76 51.20 3.02 3.15 7.83 5.32 Remeasurements (gains)/ losses arising from changes in - - financial assumptions......................................................................... (32.84) (42.99) (2.42) (3.09) (5.03) (7.27) - demographic assumptions.............................................................. — (13.31) — (7.92) — — - experience adjustments................................................................... 0.38 47.42 1.79 0.37 (1.33) 2.16 Benefits paid................................................................................................. (86.96) (91.34) (1.11) (1.62) (8.85) (7.96) Closing defined benefit obligation................................................. 933.58 910.20 47.93 44.66 112.15 117.11 iv Changes in fair value of plan assets during the year Opening fair value of plan assets.................................................. 907.24 846.06 — — — — Add/(less) Assets acquired on account of business combination [Refer note 44 (B)].................................................... — 5.34 — — — — Interest income........................................................................................... 60.56 51.64 — — — — Return on plan assets excluding interest income............. 2.10 9.57 — — — — Contribution by employer.................................................................... 47.01 85.97 1.11 1.62 8.85 7.96 Benefits paid................................................................................................. (86.96) (91.34) (1.11) (1.62) (8.85) (7.96) Closing fair value of plan assets 929.95 907.24 — — — —