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Note 29.14 Interests in other entities
(continued)
b) Non-controlling interests (NCI)
Set out below is summarised financial information for each subsidiary company that has non-controlling interests that
are material to the Group. The amounts disclosed for each subsidiary company are before inter-company eliminations.
(
`
cr)
Summarised Balance Sheet
Amal Ltd
As at
March 31, 2018
As at
March 31, 2017
Current assets
17.19
10.12
Current liabilities
9.49
12.04
Net current assets
7.70
(1.92)
Non-current assets
35.69
27.90
Non-current liabilities
6.77
5.93
Net non-current assets
28.92
21.97
Net assets
36.62
20.05
Accumulated NCI
17.27
12.68
(
`
cr)
Summarised Statement of Profit and Loss
Amal Ltd
2017-18
2016-17
Revenue
32.65
8.12
Profit for the year
9.70
0.35
Other Comprehensive Income
–
0.01
Total Comprehensive Income
9.70
0.36
Profit allocated to NCI
4.58
0.23
Dividends paid to NCI
–
–
(
`
cr)
Summarised cash flows
Amal Ltd
2017-18
2016-17
Cash flows from operating activities
3.90
4.14
Cash flows from investing activities
(1.34)
(1.47)
Cash flows from financing activities
(1.89)
(1.16)
Net increase | (decrease) in cash and cash equivalents
0.67
1.51
c) Joint operations
Joint control over operations of Anaven LLP:
During the year, the Group has started a joint arrangement in the name of Anaven LLP, with AkzoNobel BV (AkzoNobel).
The legal form of this entity confers separation between the parties to the joint arrangement and the entity itself. The
arrangement requires consent of both the parties for all relevant activities; hence it is classified as ‘jointly controlled’. The
Company has a participating interest in Anaven LLP, primarily in the nature of production-sharing between AkzoNobel and
itself. Based on this, the Management concluded that Anaven LLP is to be classified as a ‘joint operation’ and accordingly
may require recognition of its share of assets, liabilities, revenues and expenses.
d) Interests in joint venture company accounted using the equity method
(
`
cr)
Name of entity
Place of
business |
country of
incorporation
% of
ownership
interest
Relationship Quoted fair value
Carrying amount
As at
March 31,
2018
As at
March 31,
2017
As at
March 31,
2018
As at
March 31,
2017
Rudolf Atul Chemicals Ltd India
50
Joint venture
*
*
10.72
10.00
Total
10.72
10.00
* Note: Unlisted entity - no quoted price available
Notes
to the Consolidated Financial Statements