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Atul Ltd | Annual Report 2011-12
NOTE 27.10 INTEREST IN JOINT VENTURE COMPANY
The Company has subscribed 50 percent 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 parties 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, 2012 as per unaudited financial
statements as given below have been considered for the purpose of consolidation:-
(
`
cr)
Particulars
As at
March 31, 2012
As at
March 31, 2011
Balance Sheet
Non-current liabilities
Deferred tax liabilities (net)
0.15
-
Long-term provisions
0.02
-
0.17
-
Current liabilities
Short-term borrowings
0.21
-
Trade payables
1.65
-
Other current liabilities
0.09
-
Short-term provisions
0.52
-
2.47
-
Total (A)
2.64
-
Non-current assets
Tangible assets, net
0.93
-
Intangible assets, net
1.07
-
Long-term loans and advances
-
-
Other non-current assets
0.02
-
2.02
-
Current assets
Inventories
1.14
-
Trade receivables
2.19
-
Cash and cash equivalents
0.98
-
Short-term loans and advances
2.28
-
Other current assets
-
-
6.59
-
Total (B)
8.61
-
Net worth (B-A)
5.97
-
Notes
to Consolidated financial statements