Company Overview Financial Statements Notice Statutory Reports 57 Rudolf Atul Chemicals Ltd | Annual Report 2020-21 (` lakhs) Note 16 Contract liabilities As at March 31, 2021 As at March 31, 2020 Advance received from customers 2.28 2.99 2.28 2.99 (` lakhs) Note 17 Other current liabilities As at March 31, 2021 As at March 31, 2020 Statutory dues 58.02 45.63 58.02 45.63 (` lakhs) Note 18 Revenue from operations 2020-21 2019-20 Sale of products 8,827.28 8 ,126.51 Scrap sales 17.12 14.44 Revenue from contracts with customers 8,844.40 8,140.95 Commission received 43.86 81.73 8,888.26 8,222.68 Reconciliation of revenue recognised with contract price (` lakhs) Particulars 2020-21 2019-20 Contract price 8,937.50 8,274.89 Adjustment for: Variable consideration1 (93.10) (133.94) Revenue from contract with customers 8,844.40 8,140.95 1Consideration payable to customers like discounts, free samples and price reductions offered to customers are estimated on specific identified basis and reduced from the contract price when the Company recognises revenue from the transfer of the related goods or services to the customer and the entity pays or promises to pay the consideration. The Company has evaluated the impact of COVID-19 resulting from i) the possible constraints in its operations and revisions in costs to fulfill the pending obligations, ii) onerous obligations, iii) penalties, if any, relating to breaches of agreements and iv) termination or deferment of contracts by customers. The Company has concluded that the impact of COVID-19 is not material based on the said evaluation. Due to the nature of the pandemic, the Company will continue to monitor developments to identify significant uncertainties relating to revenue in future periods. (` lakhs) Note 19 Other income 2020-21 2019-20 Interest from inter-corporate deposits 88.98 102.11 Interest on demand deposits with banks 36.22 21.66 Liability no longer required written back 2.34 - Exchange rate difference gain (net ) (13.54) 15.04 Miscellaneous income - 0.59 114.00 139.40
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