175 / 220
173
The Group has carried out annual Goodwill impairment assessment as at March 31, 2018. The Management believes that any
reasonably possible change in the key assumptions may not cause the carrying amount to exceed the recoverable amount of the
cash generating units. Accordingly, there was no impairment recorded during the year.
Note 4 (b) Biological assets
a) Biological assets of the Group consists:
i)
Immature tissue culture raised date palms that are classified as non-current biological assets. The Group has a
plucking cycle of about 4-5 months.
ii)
Mature tissue culture raised date palms that are classified as current biological assets.
b) Reconciliation of changes to the carrying value of biological assets between the beginning and the end of the current year
are as follows:
(
`
cr)
Particulars
Tissue culture raised date palms
March 31, 2018
March 31, 2017
Mature
Immature
Mature
Immature
Opening balance
11.77
9.32
8.28
11.25
Increase due to production
0.18
9.86
0.22
9.40
Change due to biological transformation
7.68
(7.68)
11.33
(11.33)
Decrease due to sale
(9.04)
–
(9.84)
–
Decrease due to write off
(0.05)
–
–
–
Change in fair value due to price changes
0.66
–
1.78
–
Closing balance
11.20
11.50
11.77
9.32
Current assets
11.20
–
11.77
–
Non-current assets*
–
11.50
–
9.32
Biological assets shown in Balance Sheet
11.20
11.50
11.77
9.32
* Non-current biological assets are expected to take more than 12 months from reporting date to become ready for
dispatch.
As at March 31, 2018, the Group had 3,658 mature plants (March 31, 2017: 14,535) and 55,916 immature plants
(March 31, 2017: 30,897).
During current year the Group has sold 10,723 plants (March 31, 2017: 1,986).
(
`
cr)
Note 5 Investments accounted for using the equity
method
Place of
business
% of
ownership
interest
As at
March 31,
2018
As at
March 31,
2017
Investment in equity instruments (fully paid-up)
Unquoted investment in joint venture company:
Rudolf Atul Chemicals Ltd
India
50
10.00
14.31
Add: Group share of profit | (loss) for the year
0.72
(4.31)
Total equity accounted investments
10.72
10.00
(
`
cr)
Particulars
Book value as at
Market value as at
March 31,
2018
March 31,
2017
March 31,
2018
March 31,
2017
Quoted
–
–
–
–
Unquoted
10.72
10.00
–
–
10.72
10.00
–
–
Notes
to the Consolidated Financial Statements