74 / 140
Atul Ltd | Annual Report 2011-12
(
`
cr)
(
`
cr)
(
`
cr)
Notes
to financial statements
NOTE 5 DEFERRED TAX LIABILITIES (NET)
As at
March 31, 2012
Charge | (credit)
during the year
As at
March 31, 2011
Deferred tax liabilities:
on account of timing difference in depreciation
29.41
0.54
28.87
29.41
0.54
28.87
Deferred tax assets:
on account of timing difference in
(a) Provision for leave encashment
5.86
1.17
4.69
(b) Provision for doubtful debts
0.39
0.25
0.14
(c) Provision for doubtful advances
0.06
-
0.06
(d) Voluntary retirement scheme
0.40
(0.52)
0.92
(e) Expenses disallowed under Section 40 (ia)
of the Income Tax Act, 1961
0.39
0.39
-
7.10
1.29
5.81
Net deferred tax liabilities | (assets)
22.31
(0.75)
23.06
NOTE 6 LONG-TERM PROVISIONS
As at
March 31, 2012
As at
March 31, 2011
Provision for leave entitlement
3.33
2.60
3.33
2.60
NOTE 7 SHORT-TERM BORROWINGS
As at
March 31, 2012
As at
March 31, 2011
(a) Secured*
Loans repayable on demand from banks
151.85
82.27
(b) Unsecured
Loans from banks
25.07
20.00
(c) Buyers’ credit arrangement
22.71
59.00
199.63
161.27
*Security details:
Secured by hypothecation of tangible current assets (other than movable plant and equipment), namely,
inventories and book debts of the Company as a whole and also secured by second and subservient charge
on immovable and movable assets of the Company to the extent of individual bank limit as mentioned in joint
consortium documents. This also extends to guarantees given by the bankers.