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Consolidated Financials
201
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS (46-122)
FINANCIALS
(b)
Details of Severance indemnity plan applicable to Tata Daewoo Commercial Vehicle Co. Ltd. and Tata Daewoo Service Vehicle Co. Ltd., Korea.
Particulars
As at / for the year ended on March 31,
2012
2011
2010
2009
2008
i
Components of employer expense
Current service cost
21.18
20.32
17.54
14.75
18.90
Interest cost
10.26
10.28
8.85
7.64
6.87
Actuarial losses
(8.39)
(23.38)
19.75
19.96
7.69
Total expense recognised in the
Profit and Loss Statement in Note 26(b), Page 194:
23.05
7.22
46.14
42.35
33.46
ii Actual contribution and benefit payments
Actual benefit payments
14.64
8.96
16.26
10.16
7.87
Actual contributions
14.64
8.96
16.26
10.16
7.87
iii Net liability recognised in balance sheet
Present value of Defined Benefit Obligation
252.58
220.62
217.23
174.83
156.50
Fair value of plan assets
-
-
-
-
-
Net liability recognised in balance sheet
(252.58)
(220.62)
(217.23)
(174.83)
(156.50)
Experience adjustment on plan liabilities
19.01
5.56
(20.09)
(15.42)
(14.08)
Experience adjustment on plan assets
-
-
-
-
-
iv Change in Defined Benefit Obligations
Present value of DBO at the beginning of the year
220.62
217.23
174.83
156.50
149.63
Current service cost
21.18
20.32
17.54
14.75
18.90
Interest cost
10.26
10.28
8.85
7.64
6.87
Actuarial losses
(8.39)
(23.38)
19.75
19.96
7.69
Benefits paid
(14.64)
(8.96)
(16.26)
(10.16)
(7.87)
Exchange fluctuation
23.55
5.13
12.52
(13.86)
(18.72)
Present value of DBO at the end of the year
252.58
220.62
217.23
174.83
156.50
v Change in fair value of assets
Plan assets at the beginning of the year
N/A
N/A
N/A
N/A
N/A
Acquisition Adjustment
N/A
N/A
N/A
N/A
N/A
Actual return on plan assets
N/A
N/A
N/A
N/A
N/A
Actual Company contributions
14.64
8.96
16.26
10.16
7.87
Benefits paid
(14.64)
(8.96)
(16.26)
(10.16)
(7.87)
Plan assets at the end of the year
-
-
-
-
-
vi Actuarial assumptions
Discount rate
4.03%
4.53%
4.84%
5.00%
5.38%
Expected return on plan assets
N/A
N/A
N/A
N/A
N/A
Medical cost inflation
N/A
N/A
N/A
N/A
N/A
The assumption of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors,
such as supply and demand in the employment market.
NOTESFORMINGPARTOFCONSOLIDATEDFINANCIALSTATEMENTS
(
`
in crores)
FINANCIAL HIGHLIGHTS (32-45)