Atul Ltd 2016-17

Atul Ltd | Annual Report 2016-17 ( ` cr) Note 3 Investment properties As at March 31, 2017 As at March 31, 2016 As at April 01, 2015 Land – freehold Gross carrying amount | Deemed cost 3.22 3.22 3.22 Net carrying amount 3.22 3.22 3.22 a) Amount recognised in Statement of Profit and Loss for investment properties The Company has classified parcels of freehold land held for a currently undeterminable future use as investment properties. There are no amounts pertaining to these investment properties recognised in the Statement of Profit and Loss, since the Company does not receive any rental income, incur any depreciation or other operating expenses. b) The Company does not have any contractual obligations to purchase, construct or develop, for maintenance or enhancements of investment property. c) Fair value. ( ` cr) Particulars As at March 31, 2017 As at March 31, 2016 As at April 01, 2015 Investment properties 134.00 145.00 130.00 134.00 145.00 130.00 Estimation of fair value The Company obtains independent valuations for its investment properties at least annually. The best evidence of fair value is current prices in an active market for similar properties. Where such information is not available, the Company considers information from a variety of sources including: i) Current prices in an active market for investment properties of different nature or recent prices of similar investment properties in less active markets, adjusted to reflect those differences. ii) Discounted cash flow projections based on reliable estimates of future cash flows. iii) Capitalised income projections based upon a estimated net market income from investment properties and a capitalisation rate derived from an analysis of market evidence. The fair values of investment properties have been determined by reputed third party and independent valuers. The main inputs used are the rental growth rates, expected vacancy rates, terminal yields and discount rates based on comparable transactions and industry data. All resulting fair value estimates for investment properties are included in level 3. ( ` cr) Note 4 Intangible assets Computer software Gross carrying amount Deemed cost as at April 01, 2015 0.21 As at March 31, 2016 0.21 As at March 31, 2017 0.21 Amortisation Amortisation charged for the year 0.09 Up to March 31, 2016 0.09 Amortisation charged for the year 0.10 Up to March 31, 2017 0.19 Net carrying amount As at April 01, 2015 0.21 As at March 31, 2016 0.12 As at March 31, 2017 0.02 ( ` cr) Note 5 Non-current investments As at March 31, 2017 As at March 31, 2016 As at April 01, 2015 a) Investment in equity instruments of subsidiary companies measured at cost 1 103.27 95.55 97.39 b) Investment in equity instruments of joint venture company measured at cost 6.13 6.13 6.13 c) Investment in Preference shares of subsidiary companies at amortised cost 7.10 6.43 8.21 116.50 108.11 111.73 a) Investment in equity instruments of other company measured at FVOCI 414.27 337.69 376.12 b) Investment in Government or Trust securities measured at amortised cost 0.01 0.01 0.01 414.28 337.70 376.13 530.78 445.81 487.86 ¹ Includes share application money Notes to the Financial Statements