Atul Ltd 2010-11

Atul Ltd | Annual Report 2010-11 ( ` crores) Schedules forming part of the accounts SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS (contd) 2010-11 2009-10 5 C I F value of imports, remittances, expenditure and earnings in foreign currency (a) C I F value of imports: Raw materials 332.88 196.76 Finished goods - for trading 2.84 4.05 Capital goods 2.16 0.80 (b) Expenditure in foreign currency: Commission 6.48 3.80 Other matters 13.61 7.94 (c) Remittances: Loan repayments 114.70 28.24 (d) Earnings in foreign currency: F O B value of exports 651.33 491.25 6 Managerial Remuneration (a) Calculation of Directors, The Chairman &Managing Directors’ commission: Computation of Net Profit as per Section 349 of the Companies Act,1956 Profit as per Profit and Loss Account 90.00 56.81 Add: The Chairman & Managing Directors’ remuneration (including perquisites) 2.49 2.41 Whole time Directors’ remuneration (including perquisites) 0.62 0.56 Directors’ commission 0.50 0.27 Depreciation 38.54 37.30 Provision for taxation 49.28 22.94 Provision for diminution in value of investments - 0.11 Payment under VRS scheme 0.44 1.82 91.87 65.41 181.87 122.22 Less: Depreciation under section 350 38.54 37.30 Impairment written back 0.89 - 39.43 37.30 Net Profit as per Section 349 of the Companies Act,1956 142.44 84.92 (i) Commission to The Chairman & Managing Director: 1% of the profit computed above ` 1.42 crores Maximum upto ` 0.94 crore 0.94 0.85 Commission to Managing Director: 0.50% of the profit computed above ` 0.72 crore Maximum upto ` 0.40 crore 0.40 0.40 1.34 1.25