Atul Ltd 2013-14

135 NOTE 27.10 INTEREST IN JOINT VENTURE COMPANY The Company has acquired 50% interest in Rudolf Atul Chemicals Limited (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. The aggregate amount of assets, liabilities, income and expenses related to the share of the Company in RACL as at and for the year ended March 31, 2014 as per audited Financial Statements are given below: ( ` cr) Particulars As at March 31, 2014 As at March 31, 2013 Balance Sheet Non-current liabilities Deferred tax liabilities (net) – 0.06 Long-term provisions – 0.01 – 0.07 Current liabilities Trade payables 2.44 3.06 Other current liabilities 0.38 0.27 Short-term provisions 0.52 0.05 3.34 3.38 Total (A) 3.34 3.45 Non-current assets Tangible assets, net 0.25 0.27 Intangible assets, net 0.36 0.72 Deferred tax assets (net) ` 3,654 – Long-term loans and advances 1.42 – 2.03 0.99 Current assets Inventories 2.05 1.25 Trade receivables 3.95 3.43 Cash and cash equivalents 2.51 2.30 Short-term loans and advances 0.12 0.07 Other current assets 0.59 0.59 9.22 7.64 Total (B) 11.25 8.63 Net worth (B-A) 7.91 5.18 Notes to the Consolidated Financial Statements