Atul Ltd 2019-20

Corporate Overview Statutory Reports Financial Statements 190 Atul Ltd | Annual Report 2019-20 01-21 22-91 92-228 a) Rights, preferences and restrictions: The Group has one class of shares referred to as equity shares having a par value of ` 10. i) Equity shares: I n the event of liquidation of the Group, the holders of equity shares will be entitled to receive any of the remaining assets of the Group, after distribution of all preferential amounts and preference shares, if any. The distribution will be in proportion to the number of equity shares held by the shareholders. Each holder of equity shares is entitled to one vote per share. ii) Dividend: T he Group declares and pays dividend in Indian rupees. The dividend proposed by the Board is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. b) Shares reserved for allotment at a later date: 56 equity shares are held in abeyance due to disputes at the time of earlier rights issues. c) Details of shareholders holding more than 5% of Equity shares: No. Name of the shareholder As at March 31, 2020 As at March 31, 2019 Holding % Number of Shares Holding % Number of Shares 1 Aagam Holdings Pvt Ltd 22.42% 66,50,700 22.42% 66,50,700 2 Arvind Farms Pvt Ltd 9.43% 27,96,208 9.35% 27,72,642 3 HDFC Trustee Company Ltd 7.15% 21,21,942 6.01% 17,82,336 ( ` cr) Note 15 Other equity As at March 31, 2020 As at March 31, 2019 Summary of other equity balance a) Securities premium 34.66 34.66 b) General reserve 97.69 97.41 c) Retained earnings 2,576.56 2,064.79 d) Other reserves i) FVOCI equity instruments 398.18 462.63 ii) Effective portion of cash flows hedges (1.64) 0.79 iii) Exchange difference in translating the Financial Statements of a foreign operation 19.77 15.75 3,125.22 2,676.03 Refer Consolidated Statement of changes in equity for detailed movement in other equity balance. Nature and purpose of other reserves a) Securities premium Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013. b) General reserve General reserve represents amount appropriated out of retained earnings pursuant to the earlier provisions of Companies Act, 1956 and local laws of respective foreign subsidiary companies. c) Retained earnings Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, any transfers from or to OCI, dividends or other distributions paid to shareholders. d) FVOCI - Equity instruments The Group has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated within the FVOCI equity instruments reserve within equity. The Group transfers amounts from this reserve to retained earnings when the relevant equity securities are derecognised.