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

372 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 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, 2023 Opening balance ............................................................................................. 106.63 70.13 69.68 (370.86) Total gains or losses recognised: a) in profit/(loss).......................................................................................... (623.18) (11.56) (32.26) 59.41 b) in other comprehensive income................................................ (13.93) — — — Purchase during the year........................................................................... 657.71 Disposal during the year............................................................................. (45.00) — — 12.18 Exercise of put option................................................................................... — — 3.77 — Adjustment for share of losses of joint ventures..................... — 10.42 — — Change in relationship during the year............................................. 56.96 — — — Reclassified as held for sale..................................................................... — — (12.99) — Exchange differences (30.20) — — 0.08 Closing balance ............................................................................................... 108.99 68.99 28.20 (299.19) 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 /conversion into equity 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)