Atul Ltd 2017-18

Atul Ltd | Annual Report 2017-18 Note 29.14 Interests in other entities (continued) Rudolf Atul Chemicals Ltd The Group acquired 50% interest in Rudolf Atul Chemicals Ltd (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. i) Commitments and contingent liabilities in respect of the joint venture company ( ` cr) Particulars As at March 31, 2018 As at March 31, 2017 Share in contingent liabilities in respect of disputed demands for income tax of the joint venture company 0.62 0.73 Total commitments and contingent liabilities 0.62 0.73 ii) Summarised financial information in respect of the joint venture company The tables below provide summarised financial information in respect of the joint venture company that are material to the Group. The information disclosed are as presented in the Financial Statements of the joint venture company. They have been amended to reflect adjustments made by the entity when using the equity method, including fair value adjustments made at the time of acquisition and modifications for differences in Accounting Policies. ( ` cr) Summarised Balance Sheet Rudolf Atul Chemicals Ltd As at March 31, 2018 As at March 31, 2017 Current assets Cash and cash equivalents 4.69 7.57 Other assets 30.87 26.38 Total current assets 35.56 33.95 Total non-current assets 6.17 6.40 Current liabilities Financial liabilities (excluding trade payables) 7.11 9.15 Other liabilities 9.46 8.07 Total current liabilities 16.57 17.22 Non-current liabilities Financial liabilities (excluding trade payables) 2.64 2.67 Other liabilities 0.16 0.12 Total non-current liabilities 2.80 2.79 Net assets 22.36 20.34 Notes to the Consolidated Financial Statements