Gillette_India_Limited_AR_20

Annual Report 2019-20 115 Notes to Financial Statements for the year ended June 30, 2020 Company Overview Board's Report MD&A Corporate Governance Financial Statements Gillette India Limited Year ended June 30, 2020 ` in lakhs Year ended June 30, 2019 ` in lakhs Post retirement medical benefit (PRMB) (Unfunded) Opening defined benefit obligation 105 91 Current service cost 2 1 Interest cost 7 7 Remeasurement on the net defined benefit liability: Actuarial (gains) / losses arising from changes in assumptions 6 12 Past service cost - plan amendments — — Actuarial (gains) / losses arising from changes in demographic adjustments (0) 1 Actuarial (gains) / losses arising from changes in experience adjustments (18) (6) Benefits paid (1) (1) Closing defined benefit obligation 101 105 E. Movement in the fair value of the plan assets are as follows: Year ended June 30, 2020 ` in lakhs Year ended June 30, 2019 ` in lakhs Gratuity Plan (Funded) Opening fair value of plan assets 1 198 1 259 Interest Income 78 95 Remeasurement gain / (loss): Return on plan assets (excluding amounts included in net interest expense) 25 4 Benefits paid (148) (160) Closing fair value of plan assets 1 153 1 198 F. The fair value of the plan assets for plan at the end of the reporting year is as follows: Year ended June 30, 2020 ` in lakhs Year ended June 30, 2019 ` in lakhs Life Insurance Corporation of India 1 153 1 198 Total 1 153 1 198 Expected employer contributions for the period ending June 30, 2021 is ` Nil Lakhs (for the year ended June 30, 2020: ` Nil lakhs) The Company's Plan Assets in respect of Gratuity, alongwith one of the group company, is funded through the group scheme of the Life Insurance Corporation of India. The actual return on plan assets was ` 103 lakhs (for the year ended June 30, 2019: ` 99 lakhs).