Atul Ltd 2016-17

221 ( ` cr) Particulars As at March 31, 2016 As at April 01, 2015 LIABILITIES Current liabilities Financial liabilities ii. Trade payables 0.51 0.57 iii. Other financial liabilities 0.47 0.38 Other current liabilities 0.74 0.22 Provisions 0.38 0.32 Total current liabilities 2.10 1.49 Total liabilities 2.10 1.49 Net assets recognised 1.98 1.29 Non-controlling interests recognised – – Investments in associate companies de-recognised 1.98 1.29 ii) The Statement of profit and loss of the above entities for the year ended March 31, 2016 is as follows: ( ` cr) Particulars 2015-16 INCOME Revenue from operations 12.31 Other income 0.20 Total Income 12.51 Expenses Changes in inventories of finished goods, stock-in-trade and work-in progress 0.10 Employee benefit expense 11.38 Other expenses 0.21 Total expenses 11.69 Profit before tax 0.82 Tax expense Current tax 0.26 Deferred tax (0.01) Total tax expense 0.25 Profit for the year 0.57 Other Comprehensive Income 0.05 Total comprehensive income for the year (A) 0.62 Share of profit of equity accounted investments de-recognised (B) 0.17 Impact on profit (A-B) * 0.45 * Consequent impact on account of discontinuation of equity accounting of Atul Ltd under IGAAP on total comprehensive income. q) Joint venture company Under IGAAP, Rudolf Atul Chemicals Ltd (RACL) was classified as a joint venture company and accounted for using the proportionate consolidation method. Under Ind AS, a joint venture company is accounted for using the equity method. For the purposes of applying the equity method, the investment in RACL of ` 6.13 cr, as at the date of transition, has been measured as the aggregate of the carrying amounts of the assets and liabilities that the Group had previously proportionately consolidated. An impairment assessment has been performed as at April 01, 2015, and no impairment provision is considered necessary. Transition to Ind AS (continued) Notes to the Consolidated Financial Statements