152 Atul Ltd | Annual Report 2022-23 Atul Ltd | Annual Report 2022-23 Atul Ltd Atul House G I Patel Marg Ahmedabad 380 014, Gujarat India Atul Ltd | Annual Report 2022-23 Reconnect | Reimagine | Regrow Corporate Overview Statutory Reports Financial Statements No. Name of the promoter As at March 31, 2023 As at March 31, 2022 Number of shares % of total shares % change during the year Number of shares % of total shares % change during the year 21. Nishtha Sunilbhai Lalbhai 5,500 0.02% - 5,500 0.02% - 22. Sanjaybhai Shrenikbhai Lalbhai (On behalf of Arvindbhai Lalbhai Family Trust) 3,653 0.01% - 3,653 0.01% - 23. Sunil Siddharth Lalbhai (On behalf of Vimla Siddharth Family Trust ) 2,724 0.01% 154.58% 1,070 - 100% 24. Swati Siddharth Lalbhai (On behalf of Sunil Lalbhai Employees Trust 1) 2,000 0.01% - 2,000 0.01% 100% 25. Lalbhai Dalpatbhai HUF 1,169 0.01% - 1,169 - - 26. Sheth Narottambhai Lalbhai 495 - - 495 - - *Includes 35,620 shares held on behalf of Siddharth Family Trust (March 31, 2022: includes 35,620 shares and 4,612 shares held on behalf of Siddharth Family Trust and Vimla Siddharth Trust, respectively) (` cr) Note 14 Other equity As at March 31, 2023 As at March 31, 2022 Summary of other equity balance a) General reserve - 68.72 b) Retained earnings 4,106.65 3,663.76 c) Capital redemption reserve 0.15 0.07 d) Other reserves i) FVTOCI equity instruments 453.73 554.03 ii) Effective portion of cash flow hedges (0.69) 0.20 4,559.84 4,286.78 Refer Standalone Statement of changes in equity for detailed movement in other equity balance. Nature and purpose of reserves a) General reserve G eneral reserve represents amount appropriated out of retained earnings pursuant to the earlier provisions of the Companies Act, 1956. Mandatory transfer to general reserve is not required under the Companies Act, 2013. b) Retained earnings R etained earnings are the profits that the Company has earned till date, less, any transfers to general reserve, any transfers from or to other comprehensive income, dividends or other distributions paid to shareholders. c) Capital redemption reserve I n accordance with Section 69 of the Companies Act, 2013, the Company has created capital redemption reserve equal to the nominal value of the shares bought back as an appropriation from general reserve. d) FVTOCI equity instruments T he Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated within the FVTOCI equity instruments reserve within equity. The Company transfers amounts from this reserve to retained earnings when the relevant equity securities are derecognised. e) Cash flow hedge reserve T he Company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable forecast sale and inventory purchases and interest rate risk associated with variable interest rate borrowings. For hedging foreign currency risk, the Company uses foreign currency forward contracts, foreign currency option contracts and interest rate swaps. They are designated as cash flow hedges to the extent these hedges are effective, the change in fair value of the hedging instrument is recognised in the cash flow hedging reserve. Amounts recognised in the cash flow hedging reserve is reclassified to profit or loss when the hedged item affects profit or loss (for example, sales and interest payments). When the forecast transaction results in the recognition of a non-financial asset (for example, inventory), the amount recognised in the cash flow hedging reserve is adjusted against the carrying amount of the non-financial asset.
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