Page 280 - Index

Standalone
Opening balance 2,858 3,161
Gain recognised in profit and loss- -
Gain/ (loss) recognised in other comprehensive income (72) (303)
Closing balance 2,786 2,858
Reconciliation of Level 3 fair value measurements of financial assets and financial liabilities is given below :
Particulars As at
December 31, 2024
(C lakh)
As at
December 31, 2023
36.2 Derivative financial instruments and hedging activity
The Company’s risk management policy is to hedge substantial amount of forecast transactions for each of the
major currencies presently US$, GBP £ and Euro €. The hedge limits are governed by the risk management policy. The
Company uses forward foreign exchange contracts to mitigate exchange rate exposure arising from forecast sales in
foreign currencies. All forward exchange contracts have been designated as hedging instruments in cash flow hedges
in accordance with Ind AS 109. Details of currency hedge and forward contract value are as under :
As at December 31, 2024
Type of Hedge Currency Number
of
contracts
Nominal
value
(Foreign
currency
in '000)
Carrying
amount of
hedging
instrument
(J lakh)
Maturity
date
Weighted
average
strike
price/rate
Changes in
fair value
of hedging
instrument
(J lakh)
Change in the
hedging item used
as the basis for
recognising hedge
effectiveness
(J lakh)
Cash flow hedge
i) Foreign
exchange
forward
contracts
USD 18 65,178 55,610 Jan to
Dec'25
85.32 (1,011) 1,011
GBP 11 5,721 6,246 Jan to
Dec'25
109.17 21 (21)
EUR 12 5,469 5,121 Jan to
Dec'25
93.63 123 (123)
As at December 31, 2023
Type of Hedge Currency Number
of
contracts
Nominal
value
(Foreign
currency
in '000)
Carrying
amount of
hedging
instrument
(J lakh)
Maturity
date
Weighted
average
strike
price/rate
Changes in
fair value
of hedging
instrument
(J lakh)
Change in the
hedging item used
as the basis for
recognising hedge
effectiveness
(J lakh)
Cash flow hedge
i) Foreign
exchange
forward
contracts
USD 18 73,889 62,179 Jan to
Dec'24
84.15 165 (165)
GBP 11 7,515 7,892 Jan to
Dec'24
105.01 (121) 121
EUR 12 5,223 4,853 Jan to
Dec'24
92.91 (33) 33
278 Annual Report 2024