254 Atul Ltd | Annual Report 2022-23 Atul Ltd | Annual Report 2022-23 Atul Ltd Atul House G I Patel Marg Ahmedabad 380 014, Gujarat India Atul Ltd | Annual Report 2022-23 Reconnect | Reimagine | Regrow Corporate Overview Statutory Reports Financial Statements Note 30.10 Offsetting financial assets and liabilities The Group has not offset any financial asset and financial liability. The Group offsets a financial asset and a financial liability when it currently has a legal enforceable right to set-off the recognised amounts and the Group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. a) Master netting arrangements – not currently enforceable Agreements with derivative counterparties are based on an International Swaps and Derivatives Association Inc Master Agreement. Under the terms of these arrangements, only where certain credit events occur (such as default ), the net position owing | receivable to a single counterparty in the same currency will be taken as owing and all the relevant arrangements are considered as terminated. As the Group does not presently have a legally enforceable right of set-off, these amounts have not been offset in the Consolidated Balance Sheet. b) Collateral against borrowings The Group has hypothecated | mortgaged assets as collateral against a number of its sanctioned line of credit (refer Note 16 (e) for further information on assets hypothecated | mortgaged as security). In case of default as per borrowing arrangement, such collateral can be adjusted against the amounts due. Note 30.11 Earnings per share Earnings per share (EPS) - The numerators and denominators used to calculate basic and diluted EPS: Particulars 2022-23 2021-22 Profit for the year attributable to the equity shareholders ` cr 514.09 604.26 Weighted average number of equity shares used in calculating basic | diluted EPS1 Number 2,95,19,595 2,95,87,051 Nominal value of equity share ` 10 10 Basic EPS ` 174.15 204.23 Diluted EPS ` 174.15 204.23 1During the current year, the Group completed its share buy-back on May 09, 2022. Note 30.12 Leases a) As a lessee i) Following are the changes in the carrying value of right-of-use assets (` cr) Particulars As at March 31, 2023 As at March 31, 2022 Balance at the beginning of the year 5.27 5.92 Depreciation | Amortisation (0.62) (0.65) Balance at the end of the year 4.65 5.27 ii) Following movement in lease liabilities (` cr) Particulars As at March 31, 2023 As at March 31, 2022 Balance at the beginning of the year 5.79 6.27 Finance cost accrued 0.29 0.34 Payment of lease liabilities (0.80) (0.83) Translation difference (0.02) 0.01 Balance at the end of the year 5.26 5.79
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