Atul Ltd 2016-17

Atul Ltd | Annual Report 2016-17 Amal Ltd Amal Ltd is a manufacturer of bulk chemicals. For restriction on ability to transfer funds, refer Note 29.17. Rudolf Atul Chemicals Ltd The Group acquired 50% interest in Rudolf Atul Chemicals Ltd (RACL), a joint venture company in India between IB Industriechemie Beteiligungs GmbH (Germany) and Atul Ltd, on August 18, 2011. RACL is engaged in the business of manufacturing and marketing textile chemicals. As per the contractual arrangement between the Shareholders of RACL, both the companies have significant participating rights such that they jointly control the operations of the joint venture company. i) Commitments and contingent liabilities in respect of the associate company and the joint venture company ( ` cr) Particulars As at March 31, 2017 As at March 31, 2016 As at April 01, 2015 Contingent liabilities of the associate company – 0.98 0.99 Share in contingent liabilities in respect of disputed demands for income tax of the joint venture company 0.73 0.73 0.73 Total commitments and contingent liabilities 0.73 1.71 1.72 ii) Summarised financial information in respect of the associate company and the joint venture company The tables below provide summarised financial information in respect of the associate company and the joint venture company that are material to the Group. The information disclosed reflects the amounts presented in the Financial Statements of the relevant associate company and joint venture company and not Atul Ltd share of those amounts. They have been amended to reflect adjustments made by the entity when using the equity method, including fair value adjustments made at the time of acquisition and modifications for differences in Accounting Policies. ( ` cr) Summarised Balance Sheet Rudolf Atul Chemicals Ltd Amal Ltd As at March 31, 2017 As at March 31, 2016 As at April 01, 2015 As at March 31, 2017 As at March 31, 2016 As at April 01, 2015 Current assets Cash and cash equivalents 7.57 4.67 7.57 * * * Other assets 26.38 29.74 17.55 * * * Total current assets 33.95 34.41 25.12 – 2.14 2.37 Total non-current assets 6.40 5.59 5.11 – 6.71 6.60 Current liabilities Financial liabilities (excluding trade payables) 9.15 0.06 0.10 * * * Other liabilities 8.07 8.79 7.15 * * * Total current liabilities 17.22 8.85 7.25 – 4.27 7.25 Non-current liabilities Financial liabilities (excluding trade payables) 2.67 2.39 1.89 * * * Other liabilities 0.12 – – * * * Total non-current liabilities 2.79 2.39 1.89 – 14.59 13.11 Net assets 20.34 28.76 21.09 – (10.01) (11.39) * These indicate disclosures not required for investment in associate company Notes to the Consolidated Financial Statements