Atul Ltd 2020-21
138 Atul Ltd | Annual Report 2020-21 d) Current tax assets ( ` cr) Particulars As at March 31, 2021 As at March 31, 2020 Opening balance 9.18 3.74 Add: Taxes paid in advance, net of provision during the year 1.81 5.44 Closing balance 10.99 9.18 e) Current tax liabilities ( ` cr) Particulars As at March 31, 2021 As at March 31, 2020 Opening balance - 0.18 Add: Current tax payable for the year 199.19 204.33 Less: Taxes paid (194.87) (204.51) Closing balance 4.32 - f) Deferred tax liabilities (net) The balance comprises temporary differences attributable to the below items and corresponding movement in deferred tax liabilities | (assets): ( ` cr) Particulars As at March 31, 2021 Charged | (Credited) to As at March 31, 2020 Charged | (Credited) to As at March 31, 2019 profit or loss OCI | equity profit or loss 1 OCI | equity Property, plant and equipment 86.67 (5.03) - 91.70 (45.88) - 137.58 Unrealised gain on mutual fund 4.53 4.13 - 0.40 0.08 - 0.32 Fair value equity investments (net) 24.85 - 9.61 15.24 - 4.24 11.00 Total deferred tax liabilities 116.05 (0.90) 9.61 107.34 (45.80) 4.24 148.90 Provision for leave encashment (8.02) (1.05) - (6.97) 1.86 - (8.83) Provision for doubtful debts (2.98) (0.45) - (2.53) 0.13 - (2.66) Regulatory and other charges (6.34) 0.38 - (6.72) 2.07 - (8.79) Investment properties (7.01) (0.31) - (6.70) (0.22) - (6.48) Cash flow hedges 0.17 - 0.15 0.02 - (0.41) 0.43 Total deferred tax assets (24.18) (1.43) 0.15 (22.90) 3.84 (0.41) (26.33) Net deferred tax liabilities | (assets) 91.87 (2.33) 9.76 84.44 (41.96) 3.83 122.57 ¹Inculdes ` 32.90 cr impact of tax rate changes. Note 28.6 Employee benefit obligations Funded schemes a) Defined benefit plans Gratuity The Company operates a gratuity plan through the ‘Atul Ltd Employees Gratuity Fund’. Every employee is entitled to a benefit equivalent to the last drawn salary of 15 days for each completed year of service in line with the Payment of Gratuity Act, 1972 or the Company scheme, whichever is more beneficial. Gratuity is payable at the time of separation or retirement from the Company, whichever is earlier. The benefit vests after five years of continuous service. Note 28.5 Current and deferred tax (continued)
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