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Atul Ltd | Annual Report 2013-14
NOTE 27.12 INTEREST IN JOINT VENTURE COMPANY
The Company has acquired 50% 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 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, 2014 as per audited
Financial Statements are given below:
(
`
cr)
Particulars
As at
March 31, 2014
As at
March 31, 2013
Balance Sheet
Non-current liabilities
Deferred tax liabilities (net)
–
0.06
Long-term provisions
–
0.01
–
0.07
Current liabilities
Trade payables
2.44
3.06
Other current liabilities
0.38
0.27
Short-term provisions
0.52
0.05
3.34
3.38
Total (A)
3.34
3.45
Non-current assets
Tangible assets, net
0.25
0.27
Intangible assets, net
0.36
0.72
Deferred tax assets (net)
`
3,654
–
Long-term loans and advances
1.42
–
2.03
0.99
Current assets
Inventories
2.05
1.25
Trade receivables
3.95
3.43
Cash and cash equivalents
2.51
2.30
Short-term loans and advances
0.12
0.07
Other current assets
0.59
0.59
9.22
7.64
Total (B)
11.25
8.63
Net worth (B-A)
7.91
5.18
Notes
to the Financial Statements