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Atul Ltd | Annual Report 2015-16
Note 28.12 Interest in joint venture company
The Company acquired 50% interest in Rudolf Atul Chemicals Limited (RACL), a joint venture company in India
between IB Industriechemie Beteiligungs GmbH, Germany and Atul Ltd on August 18, 2011. RACL is engaged
in the business of manufacturing and marketing textile chemicals. As per the contractual arrangement between
the Shareholders of RACL, both the companies have significant participating rights such that they jointly control
the operations of the joint venture company. The aggregate amount of assets, liabilities, income and expenses
related to the share of the Company in RACL as at and for the year ended March 31, 2016 as per audited Financial
Statements is given below:
Balance Sheet
as at March 31, 2016
(
`
cr)
Particulars
As at
March 31, 2016
As at
March 31, 2015
Current liabilities
Trade payables
4.10
3.41
Other current liabilities
0.86
0.43
Short-term provisions
4.49
0.73
Total (A)
9.45
4.57
Non-current assets
Tangible assets, net
0.58
0.27
Intangible assets, net
–
0.01
Capital work-in-progress
0.24
0.11
Deferred tax assets (net)
0.05
0.08
Long-term loans and advances
1.31
1.41
2.18
1.88
Current assets
Inventories
3.06
2.79
Trade receivables
6.47
5.35
Cash and cash equivalents
2.32
3.77
Short-term loans and advances
5.43
0.14
Other current assets
0.03
0.61
17.31
12.66
Total (B)
19.49
14.54
Net worth (B-A)
10.04
9.97
Notes
to the Financial Statements