Atul Ltd 2013-14

Atul Ltd | Annual Report 2013-14 ( ` cr) NOTE 24 EMPLOYEE BENEFIT EXPENSES 2013-14 2012-13 Salaries, wages and bonus 134.10 117.96 Contribution to provident and other funds 9.78 12.26 Staff welfare 5.79 4.35 149.67 134.57 ( ` cr) NOTE 25 FINANCE COSTS 2013-14 2012-13 Interest on borrowings 28.50 27.31 Interest on income tax 0.60 – Interest on others 2.40 1.43 Other borrowings cost 0.92 2.33 Applicable exchange difference to the extent considered as an adjustment to borrowing cost 1.02 2.30 33.44 33.37 ( ` cr) NOTE 26 OTHER EXPENSES 2013-14 2012-13 Consumption of stores and spares 33.01 15.08 Power, fuel and water 281.44 215.10 Conversion and plant operation charges 32.97 31.41 Building repairs 15.29 15.32 Plant and equipment repairs 62.08 52.62 Sundry repairs 6.87 6.15 Rent 1.87 1.95 Rates and taxes 1.85 1.24 Insurance 5.64 4.84 Freight, cartage and octroi 62.34 54.59 Discount and commission 18.73 13.76 Travelling and conveyance 12.86 11.37 Payments to Statutory Auditors a) Audit fees 0.61 0.55 b) Other matters 0.31 0.28 c) Out of pocket expenses 0.01 0.01 Payments to Cost Auditors a) Cost Audit fees 0.03 0.03 b) Out of pocket expenses ` 19,360 (Previous year: ` 31,381) Directors’ fees and travelling 1.42 1.31 Directors’ commission (other than Executive Directors) 0.76 0.53 Goodwill on consolidation written off 0.11 – Bad debts and irrecoverable balances written off 1.75 0.57 Exchange rate difference on consolidation for the year 2.16 14.90 Provision for doubtful debts 0.46 1.68 Provision for diminution in value of investment 0.47 0.07 Obsolete and unserviceable material written down – 0.02 Loss on assets sold, discarded or demolished 0.01 0.17 Miscellaneous expenses 67.05 57.48 610.10 501.03 Notes to the Consolidated Financial Statements