Page 254 - Tata_Chemicals_yearly-reports-2017-18

(b) Fair value hierarchy
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value
hierarchy, described as follows:
Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities
Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly
observable
Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
The following table provides the fair value measurement hierarchy of the Group’s financials assets and liabilities that are measured at fair
value or where fair value disclosure is required.
` in crore
Particulars As at 31 March, 2018
Total Quoted Significant Significant
prices in observable unobservable
active markets inputs inputs
(Level 1) (Level 2) (Level 3)
Assets measured at fair value:
Derivative financial assets
Cross currency interest rate swaps 12.88 - 12.88 -
Commodity futures 32.10 - 32.10 -
Interest rate swaps 13.83 - 13.83 -
Forward contracts 4.59 - 4.59 -
Option contracts 0.08 - 0.08 -
FVTOCI financial investments
Quoted equity instruments 1,744.29 1,744.29 - -
Unquoted equity instruments 651.56 - - 651.56
FVTPL financial investments
Investment in mutual funds 91.81 - 91.81 -
Liabilities measured at fair value:
Derivative financial liabilities
Forward contracts 4.95 - 4.95 -
Interest rate swaps 5.01 - 5.01 -
Commodity futures 21.29 - 21.29 -
Liabilities for which fair values are disclosed :
Borrowings:
Unsecured non-convertible debentures 256.32 256.32 - -
There have been no transfers between levels during the period.

252 Annual Report 2017-18