Statutory Reports
Corporate Overview
69th Annual Report 2013-14
166
Financial Statements
(Standalone)
NOTES FORMING PART OF FINANCIAL STATEMENTS
37. Derivative transactions
The Company uses forward exchange contracts, interest rate swaps and currency options to hedge its exposure in foreign currency and interest rates.
The information on derivative instruments is as follows :
(a) Derivative Instruments outstanding as at March 31, 2014
Currency
Amount
Buy / Sell
Amount
(Foreign currency
in millions)
(
`
in crores)
(i)
Forward exchange contracts (net)
US $ / IN
`
US $
-
Buy
-
US $ / IN
`
US $
37.57
Buy
203.95
US $ / IN
`
US $
4.00
Sell
23.96
US $ / IN
`
US $
25.0
Sell
135.69
(ii)
Options (net)
US $ / IN
`
US $
7.18
Buy
42.97
US $ / IN
`
US $
10.00
Buy
54.29
(iii) Interest Rate Swaps Floating to Fixed
US $
450
Swap
-
-
-
-
-
(b) Foreign exchange currency exposures not covered by derivative instruments as at March 31, 2014
Amount
Amount
(Foreign currency
in millions)
(
`
in crores)
(i)
Amount receivable on account of sale of goods, investment in preference shares,
loan and interest receivable
US $
US $
8.54
246.90
51.12
1,338.59
€
78.86
648.89
€
64.25
370.28
£
2.34
23.27
£
8.63
70.99
THB 962.41
177.25
THB 2,765.75
511.66
ZAR
44.83
25.35
ZAR
55.96
33.04
(ii)
Creditors payable on account of loan and interest charges and other foreign
currency expenditure
US $
US $
640.26
959.46
3,835.14
5,208.44
€
11.74
96.67
€
11.89
82.67
£
12.66
125.46
£
15.67
128.64
¥ 138.37
8.06
¥
230.10
13.33
Others
9.91
Others
2.64
* Note - Hedged partially by GBP USD forward of GBP 1.75 million
*
