Page 265 - Arvind 2024

Corporate Overview Statutory Reports Financial Statements
Notes to Consolidated Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
The principal assumptions used in determining above defined benefit obligations for the Group’s plans are shown below:
Particulars
March 31,2024
March 31,2023
7.20%
8.00%
For service 2 years and below 20.00% p.a. For service 3 years to 5 years 10.00% p.a. For service 6 years and above 5.00% p.a."
Indian Assured Lives Mortality 2012-14 (Urban)
Discount rate
Future salary increase Attrition rate
Mortality rate during employment
A quantitative sensitivity analysis for significant assumption is as shown below: Gratuity
7.39% 7.00% 15%
Indian Assured Lives Mortality 2012-14 (Urban)
(8.58) 9.38 9.33 (8.69) (0.81) 0.82
43.01
97.84 113.57 60.88 315.30
5
Particulars
Sensitivity level
Increase / (Decrease) in defined benefit obligation (Impact)
March 31, 2024
March 31, 2023
(21.97)
25.32
24.87
(22.01)
(2.79)
3.00
Gratuity
Discount rate Salary increase Attrition rate
1% increase 1% decrease 1% increase 1% decrease 1% increase 1% decrease
The following are the expected future benefit payments for the defined benefit plan :
Gratuity
Within the next 12 months (next annual reporting period) 2 to 5 years
6 to 10 years
Beyond 11 years
Total expected payments
Weighted average duration of defined plan obligation (based on discounted cash flows)
Gratuity
Particulars
March 31, 2024
March 31, 2023
29.52
67.18
182.13
335.30
614.14
Particulars
Years
March 31, 2024
March 31, 2023
9
Annual Report 2023-24 | 263