254 Annual Report 2023-24 Atul Ltd Name of the entity Principal activity Place of business | country of incorporation Ownership interest held by the Group Ownership interest held by the noncontrolling interest As at March 31, 2024 As at March 31, 2023 As at March 31, 2024 As at March 31, 2023 Atul Middle East FZ-LLC Chemicals UAE 100% 100% - - Atul Natural Dyes Ltd Chemicals India 100% 100% - - Atul Natural Foods Ltd Food products India 100% 100% - - Atul Nivesh Ltd Investments India 100% 100% - - Atul Paints Ltd Chemicals India 100% 100% - - Atul Polymers Products Ltd Polymers India 100% 100% - - Atul Products Ltd Chemicals India 100% 100% - - Atul Rajasthan Date Palms Ltd Agri products India 73.98% 73.98% 26.02% 26.02% Atul Renewable Energy Ltd Renewable energy India 100% 100% - - Atul (Retail) Brands Ltd Retail India 100% 100% - - Atul Seeds Ltd Agri products India 100% 100% - - Atul USA Inc Chemicals USA 100% 100% - - Biyaban Agri Ltd Agri products India 100% 100% - - DPD Ltd Agri products UK 98% 98% 2% 2% Jayati Infrastructure Ltd Infrastructure India 100% 100% - - Osia Dairy Ltd Dairy India 100% 100% - - Osia Infrastructure Ltd Infrastructure India 100% 100% - - Raja Dates Ltd Agri products India 100% 100% - - Sehat Foods Ltd Food products India 100% 100% - - The Group holds 49.86% of equity share capital of Amal Ltd. Based on facts and circumstances including dispersion of holdings of other shareholders, common promoters of both the companies, operational dependency on The Company, the Group has concluded that Atul Ltd continues to control Amal Ltd as it has existing rights that give it the current ability to direct relevant activities of Amal Ltd. b) Non-controlling interests (NCI) Set out below the summarised financial information for the subsidiary company, which has non-controlling interests that are material to the Group. The amounts disclosed for subsidiary company are before inter-company eliminations. (` cr) Summarised Balance Sheet Amal Ltd Amal Speciality Chemicals Ltd As at March 31, 2024 As at March 31, 2023 As at March 31, 2024 As at March 31, 2023 Current assets 6.37 11.28 11.83 13.43 Current liabilities 8.12 7.16 10.47 21.50 Net current assets (1.75) 4.12 1.36 (8.07) Non-current assets 113.89 105.60 78.95 87.81 Non-current liabilities 1.21 1.19 38.88 49.98 Net non-current assets 112.68 104.41 40.07 37.83 Net assets 110.93 108.53 41.43 29.76 Accumulated NCI 55.62 54.42 20.77 14.92 Note 30.16 Interests in other entities (continued)
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