Atul Limited. — Audit Report / Information 2020

May 27, 2020

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May 27, 2020

The Manager Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001

SCRIP CODE: 500027 BSE Listing portal

The Manager Listing Department National Stock Exchange of India Limited “Exchange Plaza” C – 1, Block G Bandra Kurla Complex, Bandra (East) Mumbai – 400 051

SYMBOL: ATUL NEAPS portal

Dear Sirs,

Sub: Consolidated related party transactions

Pursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we enclose herewith related party transactions on a consolidated basis in specified format as on March 31, 2020.

Thank you,

Yours faithfully,

For Atul Ltd Sd/Lalit Patni Company Secretary and Chief Compliance Officer Telephone: (+91 2632) 230232

Encl.: as above.

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Note 29.4 Related party disclosures

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Note 29.4 (A) Related party information

Name of the Related party and nature of relationship

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No. Name of the related party Description of relationship
01 Aagam Holdings Pvt Ltd
02 Aayojan Resources Pvt Ltd Entity over which control exercised by Key Management
03 Adhigam Investments Pvt Ltd Personnel
04 Samveg Agencies Pvt Ltd
05 Rudolf Atul Chemicals Ltd Joint venture company
06 Rudolf GmbH Entity over which control exercised by Joint Venture partner
07 Rudolf HUB
08 Key Management Personnel
S S Lalbhai Chairman and Managing Director
S A Lalbhai Managing Director
B N Mohanan Whole-time Director and President - U&S
T R Gopi Kannan Whole-time Director and CFO
R A Shah Non-executive Director
S S Baijal Non-executive Director
B S Mehta Non-executive Director
H S Shah Non-executive Director
S M Datta Non-executive Director
V S Rangan Non-executive Director
M M Chitale Non-executive Director
S A Panse Non-executive Director
B R Arora Non-executive Director
In Amal Ltd
R Kumar Managing Director
A R Jadeja Director
S A Shah Director
S Mahalakshmi Director
In Atul Bioscience Ltd
P Chebiyyam Managing Director
A V Dangi Director
P H Lele Director
R R Iyer Director
A S Lalbhai Director
S R Tripathi Director
In Atul Europe Ltd
Dr E Sharkey Director
J Collonge Director
S Nabar Director
In DPD Ltd
A M Batra Director
Dr A Brackpool Director
Dr E Sharkey Director
S N Pandya Director
09 Close family members of Key Management Personnel
Vimla S Lalbhai Mother of S S Lalbhai
Swati S Lalbhai Sister of S S Lalbhai
Ashtha S Lalbhai Daughter of S S Lalbhai
Saumya S Lalbhai Son of S A Lalbhai
Nishtha S Lalbhai Daughter of S S Lalbhai
10 Welfare funds
Atul Foundation Trust
Atul Kelavani Mandal
Entities over which Key Management Personnel or their close
Atul Rural Development Fund
family members have significant influence
Atul Vidyalaya
Urmi Stree Sanstha
11 Other related parties [1]
The Atul Officers Retirement Benefit Fund
Atul Products Ltd - Ankleshwar Division Employees' Provident Fund Trust Post-employment benefit plan of Atul Ltd
Atul Limited Employees Gratuity Fund
Amal Limited Group Gratuity Scheme Trust Post-employment benefit plan of Amal Ltd
Atul Bioscience Staff Gratuity Trust Post-employment benefit plan of Atul Bioscience Ltd
Atul Crop Care Limited Employees Group Gratuity Assurance Scheme Post-employment benefit plan of Atul Crop Care Ltd
The Trustees Atul Finserv Ltd Employees Group Gratuity Scheme Post-employment benefit plan of Atul Finserv Ltd
The Trustees, Atul Rajasthan Date Palms Ltd Post-employment benefit plan of Atul Rajasthan Date Palms Ltd
Lapox Polymers Limited Employees Group Gratuity Assurance Scheme Post-employment benefit plan of Lapox Polymers Ltd
Rudolf Atul Chemicals Limited Employees Group Gratuity Assurance Scheme Post-employment benefit plan of Rudolf Atul Chemicals Ltd
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1 Refer Note 29.6 for information on transactions with post-employment benefit plans mentioned above.

(₹ cr)

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Note 29.4 (B) Transactions with entity over which control exercised by Key Management Personnel 2019 - 20 2018 - 19
a) Other transactions
1 Loan taken - 5.00
Aagam Holdings Pvt Ltd - 5.00
2 Repayment of loan received - 11.50
Aagam Holdings Pvt Ltd - 11.50
3 Interest paid on loan - 0.60
Aagam Holdings Pvt Ltd - 0.60
4 Lease rent received
Aagam Holdings Pvt Ltd (Current year: ₹ 15,000 and Previous year: ₹ 18,000)
Aayojan Resources Pvt Ltd (Current year: ₹ 5,000 and Previous year: ₹ 16,000)
Adhigam Investment Pvt Ltd (Current year: ₹ 10,000 and Previous year: ₹ 12,000)
5 Sale of property 0.73 -
Aagam Holdings Pvt Ltd 0.73 -
(₹ cr)
Note 29.4 (C) Transactions with joint venture company 2019 - 20 2018 - 19
a) Sales and income
1 Sale of goods 3.01 3.85
2 Service charges received 3.83 3.29
3 Lease rent received 0.66 0.54
4 Interest received 0.52 0.09
5 Brand usage charges 0.03 -
b) Purchase and expenses
1 Purchase of goods 0.19 0.24
2 Reimbursement of expenses (Current year: ₹ 19,738 and Previous year: ₹ 9,979)
c) Other transactions
1 Dividends received from equity investment measured at cost 2.19 -
2 Reimbursement received 0.61 0.66
3 Inter corporate deposit given 2.00 5.00
4 Inter corporate deposit received back - 5.00
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All above transactions are with Rudolf Atul Chemicals Ltd.

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(₹ cr)
Note 29.4 (D) Transactions with entity over which control exercised by joint venturer 2019 - 20 2018 - 19
a) Sales and income
1 Commission received 0.82 0.61
Rudolf GmbH 0.82 0.61
b) Purchases and expenses
1 Purchase of goods 11.72 14.00
Rudolf GmbH 11.72 14.00
2 Insurance expense 0.04 0.05
Rudolf GmbH 0.04 0.05
3 Business promotion and development 0.89 -
Rudolf HUB 0.89 -
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(₹ cr)
Note 29.4 (E) Key Management Personnel compensation 2019 - 20 2018 - 19
Remuneration 20.24 17.36
1 Short-term employee benefits 18.15 15.18
2 Post-employment benefits [1] 0.94 0.84
3 Commission and other benefits to Non-Executive | Independent Directors 1.15 1.34
4 Interest on deposits from Directors (Previous year: ₹ 2,181) -
1 Compensation exclude provision for gratuity and compensated absences since these are based on actuarial valuation on an overall company basis.
(₹ cr)
Note 29.4 (F) Close family members of Key Management Personnel compensation 2019 - 20 2018 - 19
Remuneration 1 0.70 0.50
1 Astha S Lalbhai 0.41 0.28
2 Saumya S Lalbhai 0.19 0.08
3 Nishtha S Lalbhai 0.10 0.14
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1 Compensation exclude provision for gratuity and compensated absences since these are based on actuarial valuation on an overall company basis.

Note 29.4 Related party disclosures (continued)

(₹ cr)

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Note 29.4 (G) Transactions with entities over which Key Management Personnel or their close family members
have significant influence 2019 - 20 2018 - 19
a) Sales and income
1 Sale of goods 0.18 0.21
Atul Kelavani Mandal 0.05 0.06
Atul Rural Development Fund (Current year: ₹ 42,289) 0.01
Atul Vidyalaya 0.13 0.14
Urmi Stree Sanstha (Current year: ₹ 21,608 and Previous year: ₹ 29,503)
b) Purchases and expenses
1 Reimbursements
-
Urmi Stree Sanstha (Previous year: ₹ 22,860)
c) Other transactions
1 Expenditure on Corporate Social Responsibility initiatives 8.16 6.42
Atul Foundation Trust 7.91 6.19
Atul Rural Development Fund 0.25 0.23
2 Reimbursements received 0.06 0.05
Atul Foundation Trust (Previous year: ₹ 386) 0.01
Atul Kelavani Mandal 0.01 0.01
Atul Rural Development Fund (Current year: ₹ 22,174 and Previous year: ₹ 27,772)
Atul Vidyalaya 0.04 0.04
Urmi Stree Sanstha (Current year: ₹ 12,000 and Previous year: ₹ 20,322)
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