Atul Ltd 2011-12

119 Notes to Consolidated financial statements ( ` cr) NOTE 24 EMPLOYEE BENEFIT EXPENSES 2011-12 2010-11 Salaries, wages and bonus 107.56 91.58 Contribution to Provident and other Funds 9.87 9.17 Payment under Voluntary retirement scheme 0.66 0.48 Staff welfare 3.57 3.10 121.66 104.33 ( ` cr) NOTE 25 FINANCE COST 2011-12 2010-11 Interest on borrowings 29.49 23.55 Other borrowing cost 2.24 2.75 Applicable exchange difference to the extent considered as an adjustment to borrowing cost 11.58 - 43.31 26.30 ( ` cr) NOTE 26 OTHER EXPENSES 2011-12 2010-11 Stores and spares consumed 15.08 10.93 Power, fuel & water 167.09 137.61 Conversion and plant operation charges 20.23 14.89 Building repairs 12.14 10.55 Plant and equipment repairs 46.94 45.08 Rent 1.60 1.56 Rates and taxes 1.53 0.90 Insurance 4.60 3.78 Freight, cartage and octroi 47.32 44.36 Discount and commission 0.02 - Travelling and conveyance 0.41 0.46 Payments to Statutory Auditors a) Audit fees 0.50 0.43 b) Other matters 0.15 0.12 c) Out of pocket expenses 0.02 0.01 Payments to Cost Auditors a) Cost audit fees 0.02 0.02 b) Out of pocket expenses ` 11,546 (Previous year ` 11,391) - - Directors’ fees and travelling 0.31 0.27 Directors’ commission (other than Managing and Whole time Director) 0.45 0.51 Charities and donations 0.62 0.37 Bad debts and irrecoverable balances written off 3.01 1.47 Irrecoverable loans and advances written off - 2.75 Less: Adjustments against provision for contingencies - 2.75 - - Goodwill on consolidation written off 2.70 Exchange rate difference on consolidation for the year (17.00) (0.46) Provision for doubtful debts 0.79 0.64 Miscellaneous expenses 91.37 89.56 Obsolete and unserviceable material written down - 0.60 Loss on assets sold, discarded or demolished 0.06 1.97 399.96 365.63