Notice Statutory Reports Company Overview Financial Statements 71 Rudolf Atul Chemicals Ltd | Annual Report 2018-19 i) Fair value hierarchy This section explains the judgements and estimates made in determining the fair values of the financial instruments that are measured at amortised cost and for which fair values are disclosed in the Financial Statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the 3 levels prescribed under the accounting standard. An explanation of each level follows underneath the table. ii) Fair value of financial assets and liabilities measured at amortised cost (` lakhs) Particulars As at March 31, 2019 As at March 31, 2018 Carrying amount Fair value (Level 3) Carrying amount Fair value (Level 3) Financial assets i) Trade receivables 1,617.78 1,617.78 1,651.46 1,651.46 ii) Cash and cash equivalents 324.71 324.71 469.42 469.42 iii) Loans 1,100.00 1,100.00 500.00 500.00 iv) Bank balances other than cash and cash equivalents above 31.64 31.64 - - v) I nterest accured, but not due on inter corporate deposit 7.85 7.85 1.49 1.49 Total financial assets 3,081.97 3,081.97 2,622.37 2,622.37 Financial liabilities i) Borrowings 128.20 128.20 125.07 125.07 ii) Security deposits 160.93 160.93 139.36 139.36 iii) Creditor for capital goods - - 2.83 2.83 iv) Dividend payable - - 583.75 583.75 v) D ividend distribution tax payable - - 118.84 118.84 vi) E mployee benefits payable 33.75 33.75 41.00 41.00 vii) C urrent maturities of finance lease obligation (refer Note 13) 4.83 4.83 - - viii) O thers 3.60 3.60 3.60 3.60 ix) T rade payables 971.60 971.60 823.08 823.08 Total financial liabilities 1,302.92 1,302.92 1,837.53 1,837.53 The carrying amounts of trade receivables, trade payables, other receivables, loans, borrowings, capital creditors and cash and cash equivalents including bank balances other than cash and cash equivalents are considered to be the same as their fair values due to the current and short term nature of such balances. The fair values for loans, security deposits and investments in preference shares were calculated based on cash flows discounted using a current lending rate. The fair values of non-current borrowings are based on discounted cash flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.
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