Background Atul Ltd (the Company) is a public company limited by shares, incorporated and domiciled in India. Its shares are listed on two stock exchanges in India; the Bombay Stock Exchange (‘BSE’) and the National Stock Exchange (‘NSE’). The registered office is located at Atul House, G I Patel Marg, Ahmedabad 380 014, Gujarat, India. The principal manufacturing facilities are situated in Atul, Ankleshwar and Kharod in Gujarat, and Tarapur in Maharashtra, India. The Company is mainly in the business of Life Science Chemicals and Performance and Other Chemicals and caters to the needs of varied industries across the world such as Adhesives, Agriculture, Animal Feed, Automobile, Composites, Construction, Cosmetic, Defence, Dyestuff, Electrical and Electronics, Flavour, Food, Footwear, Fragrance, Glass, Home Care, Horticulture, Hospitality, Paint and Coatings, Paper, Personal Care, Pharmaceutical, Plastic, Polymer, Rubber, Soap and Detergent, Sport and Leisure, Textile, Tyre and Wind Energy. Note 1 Material accounting policies This Note provides a list of the material accounting policies adopted by the Company in preparation of these Standalone Financial Statements. These policies have been consistently applied to all the years presented, unless otherwise stated. a) Statement of compliance The Standalone Financial Statements comply in all material respects with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the Act) read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and other relevant provisions of the Act, as amended. b) Basis of preparation i) Historical cost convention The Standalone Financial Statements have been prepared on a historical cost basis except for the following: a) Certain financial assets and liabilities (including derivative instruments): measured at fair value b) Defined benefit plans: plan assets measured at fair value c) Biological assets: measured at fair value less cost to sell ii) The Standalone Financial Statements have been prepared on accrual and going concern basis. iii) The accounting policies are applied consistently to all the periods presented in the Standalone Financial Statements. All assets and liabilities have been classified as current or non-current as per the normal operating cycle of the Company and other criteria as set out in the Division II of Schedule III to the Companies Act, 2013. Based on the nature of products and the time between acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of assets and liabilities. iv) Recent accounting pronouncements: New and amended Ind ASs effective from April 01, 2024 T he Ministry of Corporate Affairs (MCA) notifies new standards | amendments to the existing standards under the Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended on March 31, 2025, the MCA has notified Ind AS 117 Insurance Contracts and amendments to Ind AS 116 Leases, relating to sale and leaseback transactions, applicable to the Company effective from April 01, 2024. The Company has evaluated the new pronouncements | amendments and there is no material impact on its Standalone Financial Statements. N ew and revised Ind ASs in issue but not yet effective T he Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards. There is no such notification which will be applicable from April 01, 2025. c) Foreign currency transactions i) Functional and presentation currency I tems included in the Standalone Financial Statements of the Company are measured using the currency of Notes to the Standalone Financial Statements 163 163 Corporate overview Performance overview ESG overview Statutory Reports Financial Statements
RkJQdWJsaXNoZXIy MjA2MDI2