212 / 236
Atul Ltd | Annual Report 2016-17
Amal Ltd
Amal Ltd is a manufacturer of bulk chemicals. For restriction on ability to transfer funds, refer Note 29.17.
Rudolf Atul Chemicals Ltd
The Group acquired 50% interest in Rudolf Atul Chemicals Ltd (RACL), a joint venture company in India between
IB Industriechemie Beteiligungs GmbH (Germany) and Atul Ltd, on August 18, 2011. RACL is engaged in the business
of manufacturing and marketing textile chemicals. As per the contractual arrangement between the Shareholders
of RACL, both the companies have significant participating rights such that they jointly control the operations of the
joint venture company.
i) Commitments and contingent liabilities in respect of the associate company and the joint venture company
(
`
cr)
Particulars
As at
March 31, 2017
As at
March 31, 2016
As at
April 01, 2015
Contingent liabilities of the associate company
–
0.98
0.99
Share in contingent liabilities in respect of disputed demands for
income tax of the joint venture company
0.73
0.73
0.73
Total commitments and contingent liabilities
0.73
1.71
1.72
ii) Summarised financial information in respect of the associate company and the joint venture company
The tables below provide summarised financial information in respect of the associate company and the joint venture
company that are material to the Group. The information disclosed reflects the amounts presented in the Financial
Statements of the relevant associate company and joint venture company and not Atul Ltd share of those amounts.
They have been amended to reflect adjustments made by the entity when using the equity method, including fair value
adjustments made at the time of acquisition and modifications for differences in Accounting Policies.
(
`
cr)
Summarised Balance Sheet
Rudolf Atul Chemicals Ltd
Amal Ltd
As at
March 31,
2017
As at
March 31,
2016
As at
April 01,
2015
As at
March 31,
2017
As at
March 31,
2016
As at
April 01,
2015
Current assets
Cash and cash equivalents
7.57
4.67
7.57
*
*
*
Other assets
26.38
29.74
17.55
*
*
*
Total current assets
33.95
34.41
25.12
–
2.14
2.37
Total non-current assets
6.40
5.59
5.11
–
6.71
6.60
Current liabilities
Financial liabilities (excluding trade
payables)
9.15
0.06
0.10
*
*
*
Other liabilities
8.07
8.79
7.15
*
*
*
Total current liabilities
17.22
8.85
7.25
–
4.27
7.25
Non-current liabilities
Financial liabilities (excluding trade
payables)
2.67
2.39
1.89
*
*
*
Other liabilities
0.12
–
–
*
*
*
Total non-current liabilities
2.79
2.39
1.89
–
14.59
13.11
Net assets
20.34
28.76
21.09
–
(10.01) (11.39)
* These indicate disclosures not required for investment in associate company
Notes
to the Consolidated Financial Statements