c ) Interests in associate and joint venture company accounted for using the equity method (` cr) Name of the entity Place of business | country of incorporation % of ownership interest Relationship Quoted fair value Carrying amount As at March 31, 2025 As at March 31, 2024 As at March 31, 2025 As at March 31, 2024 Rudolf Atul Chemicals Ltd India 50% Joint venture * * 31.52 27.10 Valsad Institute of Medical Sciences Ltd India 50% Associate * * 25.58 22.48 Total 57.10 49.58 *Note: Unlisted entity - no quoted price available Rudolf Atul Chemicals Ltd The Group acquired 50% interest in Rudolf Atul Chemicals Ltd (RACL), a joint venture company in India between IB Industriechemie Beteiligungs GmbH (Germany) and Atul Ltd on August 18, 2011. RACL is engaged in the business of manufacturing and marketing textile chemicals. As per the contractual arrangement between the shareholders of RACL, both the companies have significant participating rights such that they jointly control the operations of the joint venture company. Valsad Institute of Medical Sciences Ltd Atul Healthcare Ltd (wholly-owned subsidiary of Atul Ltd) acquired shares in Valsad Institute of Medical Sciences Ltd (VIMS) for setting up a modern multi-speciality and super speciality NABH compliant 200 bed hospital in Valsad effective from October 4, 2022. As per the shareholders agreement, Atul Healthcare Ltd has made investment with mutual consents of all the shareholders of VIMS. i) Commitments and contingent liabilities in respect of the joint venture company (` cr) Particulars As at March 31, 2025 As at March 31, 2024 Share in contingent liabilities in respect of disputed demands for income tax 0.32 0.32 Share in capital commitments 0.51 0.01 Total commitments and contingent liabilities 0.83 0.33 ii) Summarised financial information in respect of the joint venture company The tables below provide summarised financial information in respect of the joint venture company that are material to the Group. The information disclosed are as presented in the Financial Statements of the joint venture company. They have been amended to reflect adjustments made by the entity when using the equity method, including fair value adjustments made at the time of acquisition and modifications for differences in accounting policies. (` cr) Summarised Balance Sheet Rudolf Atul Chemicals Ltd As at March 31, 2025 As at March 31, 2024 Current assets Cash and cash equivalents 36.82 21.52 Other assets 43.44 43.30 Total current assets 80.26 64.82 Total non-current assets 6.34 9.80 Current liabilities Financial liabilities (excluding trade payables) 4.54 4.07 Other liabilities 17.39 14.85 Total current liabilities 21.93 18.92 Note 30.15 Interests in other entities (continued) 296 296 Integrated Annual Report 2024-25
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