Atul Ltd 2017-18

205 Note 29.14 Interests in other entities (continued) b) Non-controlling interests (NCI) Set out below is summarised financial information for each subsidiary company that has non-controlling interests that are material to the Group. The amounts disclosed for each subsidiary company are before inter-company eliminations. ( ` cr) Summarised Balance Sheet Amal Ltd As at March 31, 2018 As at March 31, 2017 Current assets 17.19 10.12 Current liabilities 9.49 12.04 Net current assets 7.70 (1.92) Non-current assets 35.69 27.90 Non-current liabilities 6.77 5.93 Net non-current assets 28.92 21.97 Net assets 36.62 20.05 Accumulated NCI 17.27 12.68 ( ` cr) Summarised Statement of Profit and Loss Amal Ltd 2017-18 2016-17 Revenue 32.65 8.12 Profit for the year 9.70 0.35 Other Comprehensive Income – 0.01 Total Comprehensive Income 9.70 0.36 Profit allocated to NCI 4.58 0.23 Dividends paid to NCI – – ( ` cr) Summarised cash flows Amal Ltd 2017-18 2016-17 Cash flows from operating activities 3.90 4.14 Cash flows from investing activities (1.34) (1.47) Cash flows from financing activities (1.89) (1.16) Net increase | (decrease) in cash and cash equivalents 0.67 1.51 c) Joint operations Joint control over operations of Anaven LLP: During the year, the Group has started a joint arrangement in the name of Anaven LLP, with AkzoNobel BV (AkzoNobel). The legal form of this entity confers separation between the parties to the joint arrangement and the entity itself. The arrangement requires consent of both the parties for all relevant activities; hence it is classified as ‘jointly controlled’. The Company has a participating interest in Anaven LLP, primarily in the nature of production-sharing between AkzoNobel and itself. Based on this, the Management concluded that Anaven LLP is to be classified as a ‘joint operation’ and accordingly may require recognition of its share of assets, liabilities, revenues and expenses. d) Interests in joint venture company accounted using the equity method ( ` cr) Name of entity Place of business | country of incorporation % of ownership interest Relationship Quoted fair value Carrying amount As at March 31, 2018 As at March 31, 2017 As at March 31, 2018 As at March 31, 2017 Rudolf Atul Chemicals Ltd India 50 Joint venture * * 10.72 10.00 Total 10.72 10.00 * Note: Unlisted entity - no quoted price available Notes to the Consolidated Financial Statements