Page 158 - Annual Report 2019-20

notes forming part of the financial statements notes forming part of the financial statements 157

( in crores) 51 Lease
49 Research & Development Expenditure On transition, the adoption of the new standard resulted in recognition of 'Right of use' asset of 110.88 crores and a
For the For the corresponding lease liability of 69.85 crores and transfer from asset amounting to 41.03 crores. The effect of this
year ended year ended adoption is insignificant on the profit before tax, profit for the period and earnings per share. Ind AS 116 will result in an PIDILITE ANNUAL REPORT 2019-20
31 March 31 March increase in cash inflows from operating activities and an increase in cashoutflows from financing activities on account of
st
st
2020 2019 lease payments.
Capital expenditure included in Property, Plant and Equipment 1.85 0.45 Refer note 47 for contractual maturities of lease liabilities.
st
Revenue expenditure charged to Statement of Profit and Loss 69.37 64.09 Reconciliation of operating lease commitments as at 31 March 2019 with the lease liabilities recognised in the Balance
Sheet as at 1 April 2019:
st
TOTAL 71.22 64.54 Particulars
Operating lease commitments disclosed as at 31 March 2019 34.28
st
st
Discounted using incremental borrowing rate of at 1 April 2019 46.51
50 Disclosures required under Section 22 of Micro, Small and Medium Enterprise Development Act, 2006
Add : finance lease liabilities recognised as at 31 March 2019 -
st
As at As at
31 March 31 March (Less) : short-term leases not recognised as a liability (10.94)
st
st
2020 2019 (Less) : low-value leases not recognised as a liability -
(i) Principal amount remaining unpaid to any SME supplier as at the end of the 9.30 20.96 Lease liability recognised as at 1 April 2019 69.85
st
accounting year
Of which are:
(ii) Interest due thereon remaining unpaid to any supplier as at the end of the - 0.00 Current lease liabilities 16.49
accounting year*
non-current lease liabilities 53.36
(iii) The amount of interest paid along with the amounts of the payment made to the - -
supplier beyond the appointed day ( in crores)
Impact of adoption of Ind AS 116 on the statement of profit and loss:
(iv) The amount of interest due and payable for the year - -
Particulars For the
(v) The amount of interest accrued and remaining unpaid at the end of the - - year ended
st
accounting year 31 March
2020
(vi) The amount of further interest due and payable even in the succeeding year, until - - Interest on lease liabilities (refer note 35) 6.08
such date when the interest dues as above are actually paid
Depreciation of Right-of-use assets (refer note 36) 24.19
TOTAL 9.30 20.96
Deferred tax (credit) (0.97)
The above information regarding dues to Micro and Small Enterprises has been determined to the extent such parties have been Impact on the statement of profit and loss for the period 29.30
identified on the basis of information collected with the Company. This has been relied upon by the auditors.
* Amount is Nil ( 45,519 for the year ended 31 March 2019). Expenses related to short term lease incurred during the year 11.96
st
52 Corporate Social Responsibility
As per Section 135 of the Companies Act, 2013, a Company, meeting the applicability threshold, needs to spend at least
2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR)
activities. The areas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture,
healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects.
A CSR committee has been formed by the Company as per the Act. The funds were primarily allocated to a corpus and
utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013.
(a) Gross amount required to be spent by the Company during the year is 24.81 crores ( 23.12 crores for the year ended
31 March 2019)
st
(b) Amount spent during the year on: In cash Yet to be paid ( in crores)
PIDILITE ANNUAL REPORT 2019-20 no. Construction/acquisition of any asset 26.30 in cash 26.30
Sr. Particulars
Total
-
-
-
(i)
(-)
(-)
(-)
(ii) On purposes other than (i) above
-
156 Figures in brackets() represent previous year (23.50) (-) (23.50)