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Atul Ltd | Annual Report 2017-18
(
`
cr)
Note 3 Investment properties
As at
March 31, 2018
As at
March 31, 2017
Land – freehold
Gross carrying amount
3.22
3.22
Net carrying amount
3.22
3.22
a) Amount recognised in the Consolidated Statement of Profit and Loss for investment properties
The Group has classified parcels of freehold land held for a currently undeterminable future use as investment properties.
There are no amounts pertaining to these investment properties recognised in the Consolidated Statement of Profit and
Loss, since the Group does not receive any rental income, incur any depreciation or other operating expenses.
b) The Group does not have any contractual obligations to purchase, construct or develop for maintenance or enhancements
of investment property.
c) Fair value:
(
`
cr)
Particulars
As at
March 31, 2018
As at
March 31, 2017
Investment properties
141.00
134.00
141.00
134.00
Estimation of fair value
The Group obtains valuations from independent valuer for its investment properties at least annually. The best evidence
of fair value is current prices in an active market for similar properties. Where such information is not available, the valuer
considers information from a variety of sources including current prices in an active market for investment properties of
different nature or recent prices of similar investment properties in less active markets, adjusted to reflect those differences.
All fair value estimates for investment properties are included in level 3.
(
`
cr)
Note 4 (a) Intangible assets
Computer
software
Goodwill
Gross carrying amount
As at March 31, 2016
0.22
–
Acquisition of subsidiary company
–
23.75
As at March 31, 2017
0.22
23.75
As at March 31, 2018
0.22
23.75
Amortisation
Up to March 31, 2016
0.10
–
Amortisation charged for the year
0.10
–
Up to March 31, 2017
0.20
–
Amortisation charged for the year
0.01
–
Up to March 31, 2018
0.21
–
Net carrying amount
As at March 31, 2017
0.02
23.75
As at March 31, 2018
0.01
23.75
Significant estimate - Impairment of Goodwill
For the purpose of impairment testing, Goodwill is allocated to a cash generating unit, representing the lowest level within
the Group at which Goodwill is monitored for internal Management purposes and which is not higher than the operating
segment of the Group. The Goodwill of
`
23.75 cr pertains to the control acquisition of Amal Ltd. The recoverable amount
of the cash generating unit has been determined based on the higher of fair value less costs of disposal and its value in use.
The fair value less costs of disposal has been determined based on closing quoted share price of Amal Ltd on an active market
as on March 31, 2018.
Notes
to the Consolidated Financial Statements