Amal Ltd 2017-18

Amal Ltd | Annual Report 2017-2018 Note 32: Fair value measurements (continued) ( ` 000) Assets and liabilities as at March 31, 2018 Level 1 Level 2 Level 3 Total Measured at fair value - recurring fair value measurements Financial assets Mutual funds 41,874 - - 41,874 Investment in equity shares - - 210 210 For which fair values are disclosed Financial assets Security deposits for utilities and premises - - 3,905 3,905 Trade receivables - - 83,938 83,938 Financial liabilities Borrowings - - 1,34,406 1,34,406 Trade payables - - 16,330 16,330 Employee benefits payable - - 699 699 Payable towards expenses - - 3,111 3,111 Retentions payable - - 670 670 ( ` 000) Assets and liabilities as at March 31, 2017 Level 1 Level 2 Level 3 Total Measured at fair value - recurring fair value measurements: Financial assets Mutual funds 19,082 - - 19,082 Investments in equity shares - - 210 210 For which fair values are disclosed Financial assets Security deposits for utilities and premises - - 3,905 3,905 Trade receivables - - 42,933 42,933 Financial liabilities - - - - Borrowings - - 1,49,667 1,49,667 Trade payables - - 16,608 16,608 Employee benefits payable - - 707 707 Payable towards expenses - - 4,042 4,042 Retentions payable - - 454 454 There were no transfers between any levels during the year. Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments and mutual fund units that have a quoted price. The fair value of all equity instruments which are traded on the Stock Exchanges is valued using the closing price as at the reporting period. The mutual fund units are valued using the closing net assets value. 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. Notes to the Financial Statements