Atul Ltd 2009-10

92 / Atul Ltd | Annual Report 2009-10 The following are the outstanding forward exchange contracts entered into by the Company: As at No of Contracts Type US$ equivalent (crores) March 31, 2009 31 Sell 0.57 March 31, 2010 3 Buy 0.04 (2) The Company has outstanding currency option contracts (hedging instruments) which are bought in addition to forward contracts, to hedge a part of its highly probable forecasted export transactions. As at No of Contracts US$ equivalent (crores) March 31, 2009 8 5.15 March 31, 2010 8 3.35 (3) The Company also uses derivative contracts other than forward contracts to hedge the interest rate and currency risk on its capital account. (i) Interest Rate Swaps to hedge against fluctuations in interest rate changes As at No of Contracts US$ equivalent (crores) March 31, 2009 3 0.28 March 31, 2010 - - (ii) Currency Swap to hedge against fluctuations in changes in exchange rate and Interest Rate As at No of contracts US$ equivalent (crores) Euro equivalent (crores) March 31, 2009 2 0.36 - March 31, 2010 2 0.20 - (b) The year end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below: Amounts receivable or payable in foreign currency on account of the following: Current Year Previous Year Particulars US$ equivalent (crores) Euro equivalent (crores) Others equivalent (crores) US$ equivalent (crores) Euro equivalent (crores) Others equivalent (crores) Debtors 2.34 0.45 0.01 1.68 0.34 0.01 Creditors - (GBP 1402.41) 0.92 - 0.02 0.31 0.01 - Loans Taken 1.44 - - 1.94 - - Schedule forming part of the accounts SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS (contd) 93