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Atul Ltd | Annual Report 2015-16
Note 28.9 Interest in joint venture company
The Company acquired 50% interest in Rudolf Kiri Chemicals Pvt Ltd, now called Rudolf Atul Chemicals Ltd (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 the 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 Consolidated Financial Statements