Amal Ltd 2016-17

Notes to the Financial Statements Amal Ltd | Annual Report 2016-17 Assets and liabilities At April 01, 2015 Level 1 Level 2 Level 3 Total Measured at fair value - recurring fair value measurements: Financial assets Investment in Equity Shares - - 210 210 For which fair values are disclosed Financial assets - - - - Security deposits - - 2,554 2,554 Trade receivables - - 2,890 2,890 Financial liabilities Borrowings - - 1,30,872 1,30,872 Trade payables - - 24,881 24,881 Provision for expenses - - 4,634 4,634 There were no transfers between any levels during the year. Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes Mutual Funds that have a quoted price(NAV) and are valued using the closing NAV. Level 2: The fair value of financial instruments that are not traded in an active market (for example over- the-counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. (c) Valuation technique used to determine fair value Specific valuation techniques used to value financial instruments include: i) the use of quoted market prices. ii) the fair value of the remaining financial instruments is determined using discounted cash flow analysis. (d) Valuation Processes The company obtains assistance of independent and competent third party valuers to perform the valuations of financial assets and liabilities wherever required for financial reporting purposes, including level 3 fair values. This experts report to the financial risk management team, chief financial officer (CFO) and the audit committee (AC). Discussions of valuation processes and results are held between the CFO and AC . (e) Fair value of financial assets and liabilities measured at amortised cost. ( ` 000) March 31, 2017 March 31, 2016 April 01, 2015 Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Financial assets Security deposits 3,905 3,905 3,905 3,905 2,554 2,554 Financial liabilities Borrowings 1,49,667 1,49,667 1,54,420 1,54,420 1,30,872 1,30,872 Total financial liabilities 1,49,667 1,49,667 1,54,420 1,54,420 1,30,872 1,30,872