203 / 300
Notes forming part of consolidated onancial statements (Contd.)
Annual Report 2016-17
•
203
29. Earnings per share
For the year ended
March 31, 2017
March 31, 2016
Numerator for Basic and Diluted EPS
Net Proot after tax (In
`
Million)
(A)
3,014.65
2,772.99
Denominator for Basic EPS
Weighted average number of equity shares
(B)
80,000,000
79,810,026
Denominator for Diluted EPS
Number of equity shares
(C)
80,000,000
80,000,000
Basic Earnings per share of face value of
`
10 each (In
`
)
(A/B)
37.68
34.74
Diluted Earnings per share of face value of
`
10 each (In
`
)
(A/C)
37.68
34.66
For the year ended
March 31, 2017
March 31, 2016
Number of shares considered as basic weighted average shares outstanding
80,000,000
79,810,026
Add: Effect of dilutive issues of stock options
-
189,974
Number of shares considered as weighted average shares and potential shares
outstanding
80,000,000
80,000,000
30. Gratuity plan:
The Group has a deoned beneot gratuity plan. Each employee is eligible for gratuity on completion of minimum ove
years of service at 15 days basic salary (last drawn basic salary) for each completed year of service. The scheme is
funded with an insurance Company in the form of a qualifying insurance policy.
The following tables summarize the components of net beneot expense recognized in the statement of proot and loss
and the funded status and amounts recognized in the Balance Sheet for the respective plans.
Statement of proot and loss
Net employee beneot expense (recognized in statement of proot and loss)
(In
`
Million)
For the year ended
March 31, 2017
March 31, 2016
Current service cost
104.90
125.23
Interest cost on beneot obligation
41.76
39.27
Past service cost
7.44
-
Expected return on plan assets
(40.00)
(29.34)
Interest income
-
-
Net beneot expense
114.10
135.16
Net actuarial (gain) / loss recognized in the year
61.04
(98.45)
Actual return on net plan assets
Balance sheet
Changes in the fair value of plan assets (recognized in the Balance Sheet) are as follows:
(In
`
Million)
For the year ended
March 31, 2017
March 31, 2016
Opening fair value of plan assets
505.45
303.04
Interest received and accrued during the year/ adjustment to opening balance
-
-
Expected return / adjustment
40.00
29.34
Contribution by employer
234.97
204.95
Beneots paid
(68.56)
(50.16)
Actuarial gains / (losses)
-
18.28
Closing fair value of plan assets
711.86
505.45