74 / 140
Atul Ltd | Annual Report 2012-13
Notes
to financial statements
(
`
cr)
NOTE 5 DEFERRED TAX LIABILITIES (NET)
As at
March 31, 2013
Charge | (credit)
during the year
As at
March 31, 2012
Deferred tax liabilities:
on account of timing difference in depreciation
35.17
5.76
29.41
35.17
5.76
29.41
Deferred tax assets:
on account of timing difference in
(a) Provision for leave encashment
6.81
0.95
5.86
(b) Provision for doubtful debts
0.95
0.56
0.39
(c) Provision for doubtful advances
0.06
-
0.06
(d) Voluntary retirement scheme
0.19
(0.21)
0.40
(e) Expenses disallowed under Section 40 (ia)
of the Income Tax Act, 1961
-
(0.39)
0.39
8.01
0.91
7.10
Net deferred tax liabilities | (assets)
27.16
4.85
22.31
(
`
cr)
NOTE 6 LONG-TERM PROVISIONS
As at
March 31, 2013
As at
March 31, 2012
Provision for leave entitlement
5.04
3.33
5.04
3.33
(
`
cr)
NOTE 7 SHORT-TERM BORROWINGS
As at
March 31, 2013
As at
March 31, 2012
(a) Secured*
Working capital loans repayable on demand from banks
151.09
145.79
(b) Unsecured
Loans from banks
-
25.07
(c) Buyers’ credit arrangement
9.36
22.71
160.45
193.57
*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 and letter of credits given by the bankers agreegating
`
86.98 cr (Previous year
`
58.52 cr).