Gillette_India_Limited_AR_20

Annual Report 2019-20 120 Notes to Financial Statements for the year ended June 30, 2020 Gillette India Limited The table below analyse financial liabilities of the Company into relevant maturity groupings based on the reporting period from the reporting date to the contractual maturity date: Less than 1 Year ` in lakhs Between 1 to 5 Years ` in lakhs Over 5 years ` in lakhs Total ` in lakhs Carrying Value ` in lakhs As at June 30, 2020 Trade Payables 28 735 — — 28 735 28 735 Other financial liabilities 1 315 14 — 1 329 1 329 Provisions 2 824 6 141 — 8 965 8 965 Other Current Liabilities 4 335 — — 4 335 4 335 As at June 30, 2019 Trade Payables 28 171 — — 28 171 28 171 Other financial liabilities 1 146 — — 1 146 1 146 Provisions 2 822 5 110 — 7 932 7 932 Other Current Liabilities 5 320 — — 5 320 5 320 30.9 Fair value measurements The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled. 31 Share-based payments a) International Stock Ownership Plan (Stocks of the Ultimate Holding Company) The Gillette Company, USA (TGC) had a “Global Employee Stock Ownership Plan” (employee share purchase plan) whereby specified employees of its subsidiaries have been given a right to purchase shares of TGC. Every employee who opted for the scheme contributed by way of payroll deduction up to a specified percentage (upto 15%) of his gross salary towards purchase of shares on a monthly basis. The Company contributes 50% of employee's contribution (restricted to 2.5% of gross salary). Such contribution is charged under employee benefits expense. Subsequent to the worldwide merger of Aquarium Acquisition Corporation (wholly owned subsidiary of the Procter & Gamble Company, USA) with TGC on October 1, 2005, the shares of TGC got delisted from the New York Stock Exchange and the share purchase plan has been adopted by the Procter & Gamble Company, USA. The shares of TGC (till September 30, 2005) / The Procter & Gamble Company, USA are listed with New York Stock Exchange of USA and are purchased on behalf of the employees at market price on the date of purchase. During the year 3282.80 shares (Previous year: 3237.377 shares) were purchased by employees at weighted average fair value of ` 7 950.05 (Previous year: ` 6 587.26) per share. The Company's contribution during the year on such purchase of shares amounting to ` 73 lakhs (Previous year: ` 54 lakhs) has been charged under employee benefits expense under Note 23. b) Employees Stock Options Plan (Stocks of the Ultimate Holding Company) The Gillette Company, USA (TGC) had an Employees Stock Options Scheme whereby specified employees of its subsidiaries covered by the plan were granted an option to purchase shares of the Parent Company i.e. The Gillette Company, USA at a fixed price (grant price) for a fixed period of time. Subsequent to the worldwide merger of Aquarium Acquisition Corporation (wholly owned subsidiary of The Procter & Gamble Company, USA) with The Gillette Company, USA on October 1, 2005, the shares of The Gillette Company got delisted from the New York Stock Exchange. Upon this change in control the 2005 Gillette Option award got automatically converted into P&G options at the established conversion ratio of 0.975 shares in The Procter and Gamble Company, USA for every share held in The Gillette Company. The shares of The Gillette Company (till September 30, 2005) / The Procter & Gamble Company, USA were/are listed