Atul Ltd 2015-16

Atul Ltd | Annual Report 2015-16 ( ` cr) Note 28.1 Contingent liabilities As at March 31, 2016 As at March 31, 2015 i) Claims against the Company not acknowledged as debts in respects of: a) Excise 7.70 7.25 b) Income tax 7.52 8.33 c) Sales tax 0.67 0.67 d) Customs 0.18 0.18 e) Water charges 89.65 79.84 f) Others 14.42 14.93 g) In respect of a customer claim amounting to ` 32.35 cr, the Company, based on a legal opinion, believes that the claim will not sustain. Note: Future cash outflows in respect of (a) to (g) above are determinable on receipt of judgements | decisions pending with various forums | authorities. ii) Guarantees given by the Company: Corporate guarantee to a bank on behalf of a subsidiary company for facilities availed by it – 9.25 ( ` cr) Note 28.2 Commitments As at March 31, 2016 As at March 31, 2015 Estimated amount of contracts remaining to be executed on capital accounts and not provided for (net of advances) 44.96 121.86 Note 28.3 Research and Development Details of expenditure incurred on in-house Research and Development facilities approved by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India under Section 35 (2AB) of Income tax Act, 1961. ( ` cr) Particulars 2015-16 2014-15 Capital expenditure 1.32 1.59 Recurring expenditure 18.16 17.94 19.48 19.53 ( ` cr) Note 28.4 CIF value of import, expenditure, remittances and earnings in foreign currency 2015-16 2014-15 a) CIF value of imports: Raw materials 351.05 371.05 Trading finished goods 6.79 15.91 Capital goods 15.67 5.83 b) Expenditure in foreign currency: Commission 3.87 3.04 Legal and professional charges 0.03 0.03 Finance costs 4.18 4.68 Other matters 11.10 10.84 c) Other remittances: Loan repayments 132.58 64.35 d) Earnings in foreign currency: FOB value of exports 1,148.03 1,163.41 Dividend income 15.69 – Others 8.79 – Notes to the Financial Statements