259 Note 30.16 Interests in other entities (continued) Valsad Institute of Medical Sciences Ltd During the year, Atul Healthcare Ltd (wholly-owned subsidiary of Atul Ltd) acquired shares in Valsad Institute of Medical Sciences Ltd (VIMS) for setting up a modern multi-speciality and super speciality NABH compliant 200 bed hospital in Valsad effective from October 4, 2022. i) Commitments and contingent liabilities in respect of the joint venture company (` cr) Particulars As at March 31, 2023 As at March 31, 2022 Share in contingent liabilities in respect of disputed demands for income tax 0.32 0.32 Share in capital commitments 0.05 - Total commitments and contingent liabilities 0.37 0.32 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, 2023 As at March 31, 2022 Current assets Cash and cash equivalents 10.28 15.67 Other assets 39.32 46.57 Total current assets 49.60 62.24 Total non-current assets 11.53 10.56 Current liabilities Financial liabilities (excluding trade payables) 2.35 3.42 Other liabilities 16.63 11.63 Total current liabilities 18.98 15.05 Non-current liabilities Financial liabilities (excluding trade payables) 1.15 1.15 Other liabilities 0.27 0.42 Total non-current liabilities 1.42 1.57 Net assets 40.73 56.18 (` cr) Reconciliation to carrying amounts Rudolf Atul Chemicals Ltd As at March 31, 2023 As at March 31, 2022 Opening net assets 56.21 48.63 Profit for the year 7.77 16.39 Other comprehensive income 0.10 (0.05) Dividends paid (23.35) (8.76) Closing net assets 40.73 56.21 Share of Group in % 50% 50% Share of Group 20.37 28.11 Carrying amount 20.37 28.11
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