Integrated Annual Report 2024-25 328 39. Financial instruments (contd.) (f) Fair Value Disclosures (contd.) (i) Financial Instruments regularly measured using Fair Value - recurring items (contd.) Rupees crores Particulars Financial assets / financial liabilities Fair Value Category Fair Value Fair value hierarchy Valuation technique(s) Key inputs (for level 2 and level 3) Significant unobservable input(s) for level 3 hierarchy Relationship of unobservable inputs to fair value and sensitivity 2025 2024 10) I nvestment in equity instruments -Quoted Financial Assets Financial instruments designated at FVTOCI-Current 0.01 0.02 Level 1 Quoted market price — — — 11) I nvestment in equity instruments-Quoted Financial Assets Financial instruments measured at FVTPL-Non current 622.24 1,009.56 Level 1 Quoted market price — — — 12) I nvestment in Infrastructure Investment Trust-Quoted Financial Assets Financial instruments measured at FVTPL-Non current 366.06 360.98 Level 1 Quoted market price — — — 13) Investment in equity instruments-Unquoted Financial Assets Financial instruments designated at FVTOCI-Non current 10.95 10.95 Level 3 Discounted cash flow / Market Multiple Approach For Discounted Cash Flow - Companies Financial projections. These include forecasts of Balance Sheet, Statement of Profit and Loss along with underlying assumptions. For Market Multiple approach- In this approach fair value is derived based on market multiples like PE Multiple, Enterprise Value (EV) multiple, Revenue Multiple etc. Financial projections including terminal growth rate, operating margins etc. and discount rates to discount future cash flows. Any change (increase / decrease) in the discount factor, financial projections etc. would entail corresponding change in the valuation of the equity component and / or the debt component. 14) Investment in debt instrument-Government Securities-Quoted Financial Assets Financial instruments measured at FVTOCI-Current 10.29 10.16 Level 1 Quoted market price — — — 15) Investments in debentures / bondsQuoted Financial Assets Financial instruments measured at FVTOCI-Current 1,677.81 593.52 Level 1 Quoted market price — — — 16) Investment in debt instruments -Commercial Papers and Certificate of DepositsUnquoted Financial Assets Financial instruments measured at FVTOCI-Current 294.91 1,696.81 Level 2 Discounted Cash Flow and Interest rate Future cash flows are estimated based on forward exchange rates (from observable forward exchange rates at the end of the reporting period) and contracted forward rates, discounted at a rate that reflects the credit risk of counter parties. — — 17) Investments in Optionally Convertible Cumulative Redeemable Preference Shares / Optionally Convertible Redeemable Bonds Financial Assets Financial instruments measured at FVTPL-Non current 38.33 306.48 Level 3 Discounted cash flow approach For Discounted cash flow - Investee's financial projections. These include forecasts of Balance Sheet, Statement of Profit and Loss along with underlying assumptions. Financial projections including terminal growth rate, operating margins etc. and discount rates to discount future cash flows. Any change (increase / decrease) in the discount factor, financial projections etc. would entail corresponding change in the valuation of the equity component and / or the debt component.
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