Atul Ltd 2016-17

147 Transition to Ind AS (continued) ii) Estimates Estimates in accordance with Ind AS at the transition date will be consistent with estimates made for the same date in accordance with IGAAP (after adjustments to reflect any difference in Accounting Policies) unless there is objective evidence that those estimates were in error. Ind AS estimates as at April 01, 2015 are consistent with the estimates as at the same date made in conformity with IGAAP. The Company made estimates for following items in accordance with Ind AS at the date of transition as these were not required under IGAAP: 1) Investment in equity instruments carried at FVPL or FVOCI 2) Fair value of investment properties iii) Classification and measurement of financial assets Ind AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS. B) Reconciliations between IGAAP and Ind AS Ind AS 101 requires an entity to reconcile equity, Total Comprehensive Income and cash flows for prior periods. The following tables represent the reconciliations from IGAAP to Ind AS: a) Reconciliation of equity as at March 31, 2016 and April 01, 2015 ( ` cr) Particulars Note to first time adoption As at March 31, 2016 As at April 01, 2015 Regrouped IGAAP* Adjustments Ind AS Regrouped IGAAP* Adjustments Ind AS ASSETS Non-current assets Property, plant and equipment a, b, h 713.79 (0.96) 712.83 474.84 (3.28) 471.56 Capital work-in-progress 169.66 – 169.66 104.08 – 104.08 Investment properties a – 3.22 3.22 – 3.22 3.22 Intangible assets 0.12 – 0.12 0.21 – 0.21 Financial assets – – i) Investments c, g 143.77 302.04 445.81 148.03 339.83 487.86 ii) Loans g 19.18 (5.51) 13.67 19.18 (7.00) 12.18 iii) Other financial assets b 5.22 1.30 6.52 8.25 1.42 9.67 Income tax assets (net) 3.11 – 3.11 – – – Other non-current assets 71.72 – 71.72 71.52 – 71.52 Total non-current assets 1,126.57 300.09 1,426.66 826.11 334.19 1,160.30 Current assets Inventories 374.17 – 374.17 349.65 – 349.65 Financial assets i) Trade receivables 420.12 – 420.12 439.19 – 439.19 ii) Cash and cash equivalents 3.40 – 3.40 4.70 – 4.70 iii) B ank balances other than cash and cash equivalents above 1.92 – 1.92 1.70 – 1.70 v) Other financial assets 10.91 – 10.91 11.69 – 11.69 Other current assets k 147.10 0.08 147.18 128.77 0.21 128.98 Total current assets 957.62 0.08 957.70 935.70 0.21 935.91 Total assets 2,084.19 300.17 2,384.36 1,761.81 334.40 2,096.21 Notes to the Financial Statements