151 / 236
149
b)
Reconciliation of Total Comprehensive Income for the year ended March 31, 2016
(
`
cr)
Particulars
Note to
first-time
adoption
Regrouped
IGAAP*
Adjustments
Ind AS
INCOME
Revenue from operations
f, j
2,463.99
144.62
2,608.61
Other income
b, h, g
40.65
2.88
43.53
Total income
2,504.64
147.50
2,652.14
Expenses
Cost of materials consumed
1,234.05
–
1,234.05
Purchase of stock-in-trade
19.68
–
19.68
Changes in inventories of finished goods, work-in-
progress and stock-in-trade
(27.66)
–
(27.66)
Excise duty
f
(0.36)
154.47
154.11
Employee benefit expenses
i
172.19
(3.72)
168.47
Finance costs
25.84
–
25.84
Depreciation and amortisation expenses
h
61.69
0.23
61.92
Other expenses
j
628.85
(10.65)
618.20
Total expenses
2,114.28
140.33
2,254.61
Profit before exceptional items and tax
390.36
7.17
397.53
Exceptional items
2.67
–
2.67
Profit before tax from continuing operations
393.03
7.17
400.20
Tax expense
Current tax
i
102.50
1.06
103.56
Deferred tax
e
22.47
(0.28)
22.19
Total tax expense
124.97
0.78
125.75
Profit for the year
268.06
6.39
274.45
Other Comprehensive Income
m
–
(40.97)
(40.97)
Total Comprehensive Income for the year
268.06
(34.58)
233.48
* The IGAAP figures have been reclassified to conform to Ind AS presentation requirements for the purpose of this Note.
c)
Impact of Ind AS adoption on the Standalone Statements of Cash Flows for the year ended March 31,
2016
The transition from IGAAP to Ind AS has not had a material impact on the Statement of Cash Flows.
C) Notes to the reconciliations
a)
Investment property
Under the IGAAP, land, buildings or part thereof were not evaluated for currently determined or undetermined
future use for classification into property, plant and equipment or investment property. Under Ind AS, the Company
has identified certain parcels of freehold land that are held for a currently undetermined future use. These investment
properties are required to be separately presented on the face of the Balance Sheet. There is no impact on the total
equity or profit as a result of this adjustment.
b)
Leases
Under IGAAP, leasehold land was accounted under AS 10 - 'Accounting for fixed assets' . Under Ind AS, leasehold
land is to be evaluated for operating or a finance lease as per the definition and classification criteria under
Ind AS 17.
Accordingly, a combined lease agreement of land and building for 30 years between the Company and its joint
venture that is Rudolf Atul Chemicals Ltd has been assessed for separation into its land and building components.
The building element is recognised as a finance lease while land will remain an operating lease. Present values of
minimum lease payments are allocated between land and building elements based on their relative fair values.
Notes
to the Financial Statements
Transition to Ind AS
(continued)