Atul Ltd 2018-19

Ǆȴ /ŞƎŕūǋĚĚ ċĚŠĚǛƥƙȠ 'ĚǛŠĚē ċĚŠĚǛƥ ƎŕîŠȠ Gratuity: HƑîƥƭĿƥǋ ŕĿîċĿŕĿƥǋ Ŀƙ î ēĚǛŠĚē ċĚŠĚǛƥ ūċŕĿijîƥĿūŠ îŠē Ŀƙ ČūŞƎƭƥĚē ūŠ ƥĺĚ ċîƙĿƙ ūlj îŠ îČƥƭîƑĿîŕ ǄîŕƭîƥĿūŠ ċǋ îŠ îČƥƭîƑǋ îƎƎūĿŠƥĚē ljūƑ ƥĺĚ ƎƭƑƎūƙĚ îƙ ƎĚƑ ƎƑūŏĚČƥĚē ƭŠĿƥ ČƑĚēĿƥ ŞĚƥĺūē îƥ ƥĺĚ ĚŠē ūlj ĚîČĺ ǛŠîŠČĿîŕ ǋĚîƑȦ ¹ĺĚ ŕĿîċĿŕĿƥǋ ūƑ îƙƙĚƥ ƑĚČūijŠĿƙĚē ĿŠ ƥĺĚ îŕîŠČĚ ¬ĺĚĚƥ ĿŠ ƑĚƙƎĚČƥ ūlj ēĚǛŠĚē ċĚŠĚǛƥ ijƑîƥƭĿƥǋ ƎŕîŠƙ Ŀƙ ƥĺĚ ƎƑĚƙĚŠƥ ǄîŕƭĚ ūlj ƥĺĚ ēĚǛŠĚē ċĚŠĚǛƥ obligation at the end of the reporting period less the fair value of plan assets. The liability so provided is paid to a trust administered by the Company, which in turn invests in eligible securities to meet the liability as and when it accrues for ƎîǋŞĚŠƥ ĿŠ ljƭƥƭƑĚȦ Šǋ ƙĺūƑƥljîŕŕ ĿŠ ƥĺĚ ǄîŕƭĚ ūlj îƙƙĚƥƙ ūǄĚƑ ƥĺĚ ēĚǛŠĚē ċĚŠĚǛƥ ūċŕĿijîƥĿūŠ Ŀƙ ƑĚČūijŠĿƙĚē îƙ î ŕĿîċĿŕĿƥǋ ǅĿƥĺ î ČūƑƑĚƙƎūŠēĿŠij ČĺîƑijĚ ƥū ƥĺĚ ¬ƥîƥĚŞĚŠƥ ūlj ¡ƑūǛƥ îŠē gūƙƙȦ ¹ĺĚ ƎƑĚƙĚŠƥ ǄîŕƭĚ ūlj ƥĺĚ ēĚǛŠĚē ċĚŠĚǛƥ ūċŕĿijîƥĿūŠ Ŀƙ ēĚƥĚƑŞĿŠĚē ċǋ ēĿƙČūƭŠƥĿŠij ƥĺĚ ĚƙƥĿŞîƥĚē ljƭƥƭƑĚ Čîƙĺ ūƭƥǜūǅƙ ǅĿƥĺ reference to market yields at the end of the reporting period on government bonds that have terms approximating to the terms of the related obligation. The net interest cost is calculated by applying the discount rate at the beginning of the period to the net balance of the ēĚǛŠĚē ċĚŠĚǛƥ ūċŕĿijîƥĿūŠ îŠē ƥĺĚ ljîĿƑ ǄîŕƭĚ ūlj ƎŕîŠ îƙƙĚƥƙȦ ¹ĺĿƙ Čūƙƥ Ŀƙ ĿŠČŕƭēĚē ĿŠ ĚŞƎŕūǋĚĚ ċĚŠĚǛƥ ĚǊƎĚŠƙĚ ĿŠ ƥĺĚ ¬ƥîƥĚŞĚŠƥ ūlj ¡ƑūǛƥ îŠē gūƙƙȦ Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised in the period in which they occur directly in other comprehensive income. They are included in retained earnings in the Statement of changes in equity and in the Balance Sheet. ĺîŠijĚƙ ĿŠ ƥĺĚ ƎƑĚƙĚŠƥ ǄîŕƭĚ ūlj ƥĺĚ ēĚǛŠĚē ċĚŠĚǛƥ ūċŕĿijîƥĿūŠ ƑĚƙƭŕƥĿŠij ljƑūŞ ƎŕîŠ îŞĚŠēŞĚŠƥƙ ūƑ ČƭƑƥîĿŕŞĚŠƥƙ îƑĚ ƑĚČūijŠĿƙĚē ĿŞŞĚēĿîƥĚŕǋ ĿŠ ƎƑūǛƥ ūƑ ŕūƙƙ îƙ Ǝîƙƥ ƙĚƑǄĿČĚ ČūƙƥȦ Provident fund for certain eligible employees is managed by the Company through the ‘Atul Products Ltd - Ankleshwar Division Employees Provident Fund Trust’ in line with Provident Fund and Miscellaneous Provisions Act, 1952. The plan ijƭîƑîŠƥĚĚƙ ĿŠƥĚƑĚƙƥ îƥ ƥĺĚ ƑîƥĚ ŠūƥĿǛĚē ċǋ ƥĺĚ ¡ƑūǄĿēĚŠƥ GƭŠē îƭƥĺūƑĿƥĿĚƙȦ ¹ĺĚ ČūŠƥƑĿċƭƥĿūŠƙ ċǋ ƥĺĚ ĚŞƎŕūǋĚƑ îŠē ĚŞƎŕūǋĚĚƙ together with the interest accumulated thereon are payable to employees at the time of their retirement or separation ljƑūŞ ƥĺĚ ūŞƎîŠǋȡ ǅĺĿČĺĚǄĚƑ Ŀƙ ĚîƑŕĿĚƑȦ ¹ĺĚ ċĚŠĚǛƥƙ ǄĚƙƥ ĿŞŞĚēĿîƥĚŕǋ ūŠ ƑĚŠēĚƑĿŠij ūlj ƥĺĚ ƙĚƑǄĿČĚƙ ċǋ ƥĺĚ ĚŞƎŕūǋĚĚȦ Šǋ ƙĺūƑƥljîŕŕ ĿŠ ƥĺĚ ǄîŕƭĚ ūlj îƙƙĚƥƙ ūǄĚƑ ƥĺĚ ēĚǛŠĚē ċĚŠĚǛƥ ūċŕĿijîƥĿūŠ Ŀƙ ƑĚČūijŠĿƙĚē îƙ î ŕĿîċĿŕĿƥǋȡ ǅĿƥĺ î ČūƑƑĚƙƎūŠēĿŠij ČĺîƑijĚ ƥū ƥĺĚ ¬ƥîƥĚŞĚŠƥ ūlj ¡ƑūǛƥ îŠē gūƙƙȦ 'ĚǛŠĚē ČūŠƥƑĿċƭƥĿūŠ ƎŕîŠȠ ūŠƥƑĿċƭƥĿūŠƙ ƥū ēĚǛŠĚē ČūŠƥƑĿċƭƥĿūŠ ƙČĺĚŞĚƙ ƙƭČĺ îƙ ČūŠƥƑĿċƭƥĿūŠ ƥū ƎƑūǄĿēĚŠƥ ljƭŠēȡ ƙƭƎĚƑîŠŠƭîƥĿūŠ ljƭŠēȡ ĚŞƎŕūǋĚĚƙɄ state insurance corporation, national pension scheme and labour welfare fund are charged as an expense to the Statement ūlj ¡ƑūǛƥ îŠē gūƙƙ ċîƙĚē ūŠ ƥĺĚ îŞūƭŠƥ ūlj ČūŠƥƑĿċƭƥĿūŠ ƑĚƐƭĿƑĚē ƥū ċĚ ŞîēĚ îƙ îŠē ǅĺĚŠ ƙĚƑǄĿČĚƙ îƑĚ ƑĚŠēĚƑĚē ċǋ ƥĺĚ ĚŞƎŕūǋĚĚƙȦ ¹ĺĚ îċūǄĚ ċĚŠĚǛƥƙ îƑĚ ČŕîƙƙĿǛĚē îƙ ēĚǛŠĚē ČūŠƥƑĿċƭƥĿūŠ ƙČĺĚŞĚƙ îƙ ƥĺĚ ūŞƎîŠǋ ĺîƙ Šū ljƭƑƥĺĚƑ ēĚǛŠĚē obligations beyond the monthly contributions. ¬ĺūƑƥȹƥĚƑŞ ĚŞƎŕūǋĚĚ ċĚŠĚǛƥƙȠ ŕŕ ĚŞƎŕūǋĚĚ ċĚŠĚǛƥƙ ƎîǋîċŕĚ ǅĿƥĺĿŠ ǧǨ ŞūŠƥĺƙ ūlj ƙĚƑǄĿČĚ ƙƭČĺ îƙ ƙîŕîƑĿĚƙȡ ǅîijĚƙȡ ċūŠƭƙȡ ĚǊȹijƑîƥĿîȡ ŞĚēĿČîŕ ċĚŠĚǛƥƙ etc. are recognised in the year in which the employees render the related service and are presented as current employee ċĚŠĚǛƥ ūċŕĿijîƥĿūŠƙȦ ¹ĚƑŞĿŠîƥĿūŠ ċĚŠĚǛƥƙ îƑĚ ƑĚČūijŠĿƙĚē îƙ îŠ ĚǊƎĚŠƙĚ îƙ îŠē ǅĺĚŠ ĿŠČƭƑƑĚēȦ ¬ĺūƑƥȹƥĚƑŞ ĚŞƎŕūǋĚĚ ċĚŠĚǛƥƙ îƑĚ ƎƑūǄĿēĚē îƥ ƭŠēĿƙČūƭŠƥĚē îŞūƭŠƥ ēƭƑĿŠij ƥĺĚ îČČūƭŠƥĿŠij ƎĚƑĿūē ċîƙĚē ūŠ ƙĚƑǄĿČĚ rendered by employees. Compensation payable under voluntary retirement scheme is being charged to the Statement of ¡ƑūǛƥ îŠē gūƙƙ ĿŠ ƥĺĚ ǋĚîƑ ūlj ƙĚƥƥŕĚŞĚŠƥȦ ~ƥĺĚƑ ŕūŠijȹƥĚƑŞ ĚŞƎŕūǋĚĚ ċĚŠĚǛƥƙȠ The liabilities for earned leave and sick leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the ƎƑūŏĚČƥĚē ƭŠĿƥ ČƑĚēĿƥ ŞĚƥĺūēȦ ¹ĺĚ ċĚŠĚǛƥƙ îƑĚ ēĿƙČūƭŠƥĚē ƭƙĿŠij ƥĺĚ ŞîƑŒĚƥ ǋĿĚŕēƙ îƥ ƥĺĚ ĚŠē ūlj ƥĺĚ ƑĚƎūƑƥĿŠij ƎĚƑĿūē ƥĺîƥ have terms approximating to the terms of the related obligation. Remeasurements as a result of experience adjustments îŠē ČĺîŠijĚƙ ĿŠ îČƥƭîƑĿîŕ îƙƙƭŞƎƥĿūŠƙ îƑĚ ƑĚČūijŠĿƙĚē ĿŠ ƎƑūǛƥ ūƑ ŕūƙƙȦ 131 Standalone | Notes to the Financial Statements