149 / 236
147
Transition to Ind AS
(continued)
ii)
Estimates
Estimates in accordance with Ind AS at the transition date will be consistent with estimates made for the same
date in accordance with IGAAP (after adjustments to reflect any difference in Accounting Policies) unless there is
objective evidence that those estimates were in error.
Ind AS estimates as at April 01, 2015 are consistent with the estimates as at the same date made in conformity
with IGAAP. The Company made estimates for following items in accordance with Ind AS at the date of transition
as these were not required under IGAAP:
1) Investment in equity instruments carried at FVPL or FVOCI
2) Fair value of investment properties
iii)
Classification and measurement of financial assets
Ind AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt
instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS.
B) Reconciliations between IGAAP and Ind AS
Ind AS 101 requires an entity to reconcile equity, Total Comprehensive Income and cash flows for prior periods.
The following tables represent the reconciliations from IGAAP to Ind AS:
a)
Reconciliation of equity as at March 31, 2016 and April 01, 2015
(
`
cr)
Particulars
Note
to first
time
adoption
As at
March 31, 2016
As at
April 01, 2015
Regrouped
IGAAP*
Adjustments Ind AS Regrouped
IGAAP*
Adjustments Ind AS
ASSETS
Non-current assets
Property, plant and equipment
a, b, h
713.79
(0.96)
712.83
474.84
(3.28)
471.56
Capital work-in-progress
169.66
– 169.66
104.08
– 104.08
Investment properties
a
–
3.22
3.22
–
3.22
3.22
Intangible assets
0.12
–
0.12
0.21
–
0.21
Financial assets
–
–
i)
Investments
c, g
143.77
302.04
445.81
148.03
339.83
487.86
ii)
Loans
g
19.18
(5.51)
13.67
19.18
(7.00)
12.18
iii)
Other financial assets
b
5.22
1.30
6.52
8.25
1.42
9.67
Income tax assets (net)
3.11
–
3.11
–
–
–
Other non-current assets
71.72
–
71.72
71.52
–
71.52
Total non-current assets
1,126.57
300.09 1,426.66
826.11
334.19 1,160.30
Current assets
Inventories
374.17
– 374.17
349.65
– 349.65
Financial assets
i)
Trade receivables
420.12
– 420.12
439.19
– 439.19
ii)
Cash and cash equivalents
3.40
–
3.40
4.70
–
4.70
iii)
Bank balances other than cash
and cash equivalents above
1.92
–
1.92
1.70
–
1.70
v)
Other financial assets
10.91
–
10.91
11.69
–
11.69
Other current assets
k
147.10
0.08
147.18
128.77
0.21
128.98
Total current assets
957.62
0.08
957.70
935.70
0.21
935.91
Total assets
2,084.19
300.17 2,384.36
1,761.81
334.40 2,096.21
Notes
to the Financial Statements