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Atul Ltd | Annual Report 2014-15
NOTE 28.9 INTEREST IN JOINT VENTURE COMPANY
(continued)
Statement of Profit and Loss
for the year ended March 31, 2015
(
`
cr)
Particulars
2014-15
2013-14
Revenue
Revenue from operations
22.03
15.56
Other income
0.75
0.50
22.78
16.06
Expenses
Cost of materials consumed
12.89
10.20
Purchase of stock-in-trade
1.60
0.49
Changes in inventories of finished goods, work-in-progress and
stock-in-trade
0.08
(0.20)
Employee benefit expenses
–
–
Finance costs
0.01
0.01
Depreciation and amortisation expenses
0.40
0.39
Other expenses
3.74
2.53
18.72
13.42
Profit before tax
4.06
2.64
Tax expense
Current tax
1.40
0.94
Deferred tax
(0.08)
(0.06)
1.32
0.88
Net profit | (loss)
2.74
1.76
NOTE 28.10 Amalgamation of Amal Ltd
The Board of Directors (Board) approved the Scheme of Amalgamation of Amal Ltd with the Company
(Scheme) on December 05, 2014. The Board has approved a share swap ratio of 1 Equity share of the face value
of
`
10 each fully paid up of Atul Ltd for every 50 Equity shares of the face value of
`
10 each fully paid up of
Amal Ltd. In terms of the Scheme, the appointed date is April 01, 2014. The Scheme of Amalgamation has
been awaiting approval from the Board for Industrial and Financial Reconstruction. Pending all other statutory
approvals, no effect to the above Scheme has been given in the Financial Statements. The impact of the Scheme
of the Financial Statements is not expected to be material.
Notes
to the Consolidated Financial Statements