Company Overview Financial Statements Notice Statutory Reports 59 Rudolf Atul Chemicals Ltd | Annual Report 2023-24 Nature and purpose of other reserves a) Securities premium Securities premium is used to record the premium on the issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013. b) General reserve General reserve represents the amount appropriated out of retained earnings pursuant to the earlier provisions of the Companies Act 1956. Mandatory transfer to general reserve is not required under the Companies Act, 2013. c) Retained earnings Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, any transfers from or to other comprehensive income, dividends or other distributions paid to shareholders. (` lakhs) Note 12 Lease liabilities As at March 31, 2024 As at March 31, 2023 Non- current Current Non- current Current Lease liabilities 108.58 - 115.89 6.19 108.58 - 115.89 6.19 (` lakhs) Note 13 Other financial liabilities As at March 31, 2024 As at March 31, 2023 Noncurrent Current Noncurrent Current i) Employee benefits payable - 176.08 - 82.95 ii) Security deposits - 172.93 - 155.78 iii) Other liabilities (includes discount payable) - 58.02 - 16.35 - 407.03 - 255.08 (` lakhs) Note 14 Provisions As at March 31, 2024 As at March 31, 2023 Noncurrent Current Noncurrent Current Provisions for compensated absences 46.40 6.43 27.05 8.03 46.40 6.43 27.05 8.03 Information about individual provisions and significant estimates a) Compensated absences The Compensated absences cover the liability for sick and earned leave. Out of the total amount disclosed above, the amount of ` 6.43 lakhs (March 31, 2023: ` 8.03 lakhs) is presented as current since the Company does not have an unconditional right to defer settlement for any of these obligations. However, based on past experience, the Company does not expect all employees to take the full amount of accrued leave or require payment within the next 12 months.
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