131 / 236
129
f) Deferred tax liabilities (net)
The balance comprises temporary differences attributable to the below items and corresponding movement in deferred
tax liabilities | (assets):
(
`
cr)
Particulars
As at
March 31,
2017
(Charged) |
Credited to
profit or loss
| OCI
As at
March 31,
2016
(Charged) |
Credited to
profit or loss
| OCI
As at
April 01,
2015
Property, plant and equipment
138.74
61.26
77.48
22.50
54.98
Total deferred tax liabilities
138.74
61.26
77.48
22.50
54.98
Provision for leave encashment
(9.04)
(1.23)
(7.81)
(0.41)
(7.40)
Provision for doubtful debts
(1.10)
0.22
(1.32)
0.18
(1.50)
Provision for doubtful advances
–
0.07
(0.07)
–
(0.07)
Investment properties
(3.95)
(0.18)
(3.77)
(0.25)
(3.52)
Voluntary Retirement Scheme
–
–
–
0.16
(0.16)
Unrealised MTM losses on derivatives (CIRS)
(1.75)
(1.75)
–
–
–
Effective portion of gains and loss on cash flow
hedges
(0.25)
0.06
(0.31)
(0.31)
–
MAT credit entitlement
(22.90)
(22.90)
–
–
–
Total deferred tax assets
(38.99)
(25.71)
(13.28)
(0.63)
(12.65)
Net deferred tax (asset) | liability
99.75
35.55
64.20
21.87
42.33
g) Unrecognised temporary differences
The Company has not recognised deferred tax liability associated with fair value gains on Equity share measured at OCI as
based on the Management projection of future taxable income and existing plan it is not probable that such difference will
reverse in the foreseeable future.
Note 27.6 Employee benefit obligations
Funded schemes
a) Defined benefit plans:
Gratuity
The Company operates a gratuity plan through the 'Atul Employees Gratuity Trust'. Every employee is entitled to a benefit
equivalent to 15 days salary last drawn for each completed year of service in line with the Payment of Gratuity Act, 1972 or
Company scheme whichever is beneficial. The same is payable at the time of separation from the Company or retirement,
whichever is earlier. The benefits vest after 5 years of continuous service.
Balance Sheet amount (Gratuity)
(
`
cr)
Particulars
Present value of
obligation
Fair value of
plan assets
Net amount
April 01, 2015
44.44
(44.44)
–
Current service cost
2.10
–
2.10
Interest expense | (income)
3.55
(3.55)
–
Total amount recognised in profit and loss
5.65
(3.55)
2.10
Remeasurement
Return on plan assets, excluding amount included in interest
expense | (income)
–
0.79
0.79
(Gain) | Loss from change in financial assumptions
0.36
–
0.36
Experience (gain) | loss
1.91
–
1.91
Total amount recognised in Other Comprehensive Income
2.27
0.79
3.06
Employer contributions
–
(5.16)
(5.16)
Benefit payments
(5.09)
5.09
–
March 31, 2016
47.27
(47.27)
–
Current service cost
2.52
–
2.52
Interest expense | (income)
3.69
(3.69)
–
Total amount recognised in profit and loss
6.21
(3.69)
2.52
Remeasurement
Return on plan assets, excluding amount included in interest
expense | (income)
–
(1.98)
(1.98)
(Gain) | Loss from change in financial assumptions
1.11
–
1.11
Experience (gain) | loss
(1.61)
–
(1.61)
Total amount recognised in Other Comprehensive Income
(0.50)
(1.98)
(2.48)
Employer contributions
–
(0.04)
(0.04)
Benefit payments
(5.81)
5.81
–
March 31, 2017
47.17
(47.17)
–
Notes
to the Financial Statements