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Atul Ltd | Annual Report 2015-16
(
`
cr)
Note 28.1 Contingent liabilities
As at
March 31, 2016
As at
March 31, 2015
i) Claims against the Company not acknowledged as debts in
respects of:
a) Excise
7.70
7.25
b) Income tax
7.52
8.33
c) Sales tax
0.67
0.67
d) Customs
0.18
0.18
e) Water charges
89.65
79.84
f) Others
14.42
14.93
g) In respect of a customer claim amounting to
`
32.35 cr, the
Company, based on a legal opinion, believes that the claim
will not sustain.
Note: Future cash outflows in respect of (a) to (g) above are
determinable on receipt of judgements | decisions pending with
various forums | authorities.
ii) Guarantees given by the Company:
Corporate guarantee to a bank on behalf of a subsidiary company
for facilities availed by it
–
9.25
(
`
cr)
Note 28.2 Commitments
As at
March 31, 2016
As at
March 31, 2015
Estimated amount of contracts remaining to be executed on capital
accounts and not provided for (net of advances)
44.96
121.86
Note 28.3 Research and Development
Details of expenditure incurred on in-house Research and Development facilities approved by the Department of
Scientific and Industrial Research, Ministry of Science and Technology, Government of India under Section 35 (2AB)
of Income tax Act, 1961.
(
`
cr)
Particulars
2015-16
2014-15
Capital expenditure
1.32
1.59
Recurring expenditure
18.16
17.94
19.48
19.53
(
`
cr)
Note 28.4 CIF value of import, expenditure, remittances and
earnings in foreign currency
2015-16
2014-15
a) CIF value of imports:
Raw materials
351.05
371.05
Trading finished goods
6.79
15.91
Capital goods
15.67
5.83
b) Expenditure in foreign currency:
Commission
3.87
3.04
Legal and professional charges
0.03
0.03
Finance costs
4.18
4.68
Other matters
11.10
10.84
c) Other remittances:
Loan repayments
132.58
64.35
d) Earnings in foreign currency:
FOB value of exports
1,148.03
1,163.41
Dividend income
15.69
–
Others
8.79
–
Notes
to the Financial Statements