68 The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the previous year. Major categories of plan assets are as follows: (` lakhs) Particulars As at March 31, 2022 As at March 31, 2021 Quoted Unquoted Total in % Quoted Unquoted Total in % Investment funds Insurance funds - 64.16 64.16 100% - 51.47 51.47 100% Others Bank balance - - - - - - - - - 64.16 64.16 100% - 51.47 51.47 100% Risk exposure Through its defined benefit plans, the Company is exposed to a number of risks; the most significant of which are detailed below: Interest rate risk A fall in the discount rate which is linked to the government securities rate will increase the present value of the liability requiring higher provision. A fall in the discount rate generally increases the mark to market value of the assets depending on the duration of asset. Salary risk The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase in the salary of the members more than the assumed level will increase the plan’s liability. Investment risk The present value of the defined benefit plan liability is calculated using a discount rate, which is determined by reference to market yields at the end of the reporting period on government bonds. If the return on plan asset is below this rate, it will create a plan deficit. Currently, for the plan in India, it has a relatively balanced mix of investments in government securities, and other debt instruments. Concentration risk The plan is having a concentration risk as all the assets are invested with the insurance company and a default will wipe out all the assets. Although probability of this is very less as insurance companies have to follow regulatory guidelines. Expected contributions to post-employment benefit plans for the year ending March 31, 2022, are ` 11.70 lakhs. The weighted average duration of the defined benefit obligation is five years (2020-21: seven years). The expected maturity analysis of gratuity is as follows:
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