Page 240 - Annual Report 2019-20

Notes forming part of the consolidated financial statements notes forming part of the consolidated financial statements 239

( in crores)
52 subsidiaries 53 Taxes
Details of the Group’s subsidiaries at the end of the reporting period are as follows: 1. Deferred Tax PIDILITE ANNUAL REPORT 2019-20
Name of Subsidiary Place of Proportion of ownership As at As at
incorporation and interest and voting rights 31 March 31 March
st
st
operation held by the Group 2020 2019
As at As at
st
31 March 2020 31 March 2019 Deferred Tax Assets (net) (13.00) (10.72)
st
a. Fevicol Company Ltd (Fevicol) India 100.00% 100.00% Deferred Tax Liabilities (net) 82.29 120.14
b. Bhimad Commercial Company Pvt Ltd (Bhimad) India 100.00% 100.00%
TOTAL 69.29 109.42
c. Madhumala Ventures Pvt Ltd (Formerly known as Madhumala India 100.00% 100.00%
Traders Pvt Ltd) (Madhumala)
d. Pagel Concrete Technologies Pvt Ltd (PCTPL) India 80.00% 80.00%
e. nitin Enterprises (nitin) India 100.00% 100.00% a 2019-20
f. Building Envelope Systems India Ltd (BESI) India 60.00% 60.00% Deferred tax (assets)/ liabilities in relation to:
g. nina Percept Pvt Ltd [refer note 56(c)] India 71.53% 71.53% Opening Recognised Recognised Foreign Closing
h. hybrid Coatings (hybrid) India 60.00% 60.00% Balance in Profit or in Other Currency Balance
i. Pidilite International Pte Ltd (PIPL) Singapore 100.00% 100.00% Loss Comprehen- Translation
sive Income
j. Pidilite Middle East Ltd (PMEL) united Arab Emirates 100.00% 100.00%
k. Pulvitec do Brasil Industria e Comercio de Colas e Adesivos Ltda Brazil 100.00% 100.00% Property, Plant and Equipment 67.78 (29.26) - 0.40 38.92
(Pulvitec) Intangible Assets 83.38 1.20 - 0.07 84.65
l. Pidilite uSA Inc (PuSA) uSA 100.00% 100.00%
m. Pidilite MEA Chemicals LLC (Jupiter)* united Arab Emirates 49.00% 49.00% FVTPL financial assets 17.12 (12.84) - - 4.28
n. PT Pidilite Indonesia (PTPI) Indonesia 100.00% 100.00% Other Provisions (5.80) (1.45) - (0.33) (7.58)
o. Pidilite Speciality Chemicals Bangladesh Pvt Ltd (PSCB) Bangladesh 100.00% 100.00%
p. Pidilite Innovation Centre Pte Ltd (PICPL) Singapore 100.00% 100.00% Allowance for Doubtful Debts (18.74) 2.06 - (0.19) (16.87)
q. Pidilite Industries Egypt SAE (PIE) Egypt 100.00% 100.00% Provision for Employee Benefits (16.72) 6.23 (3.58) (0.01) (14.08)
r. Pidilite Bamco Ltd (Bamco) Thailand 100.00% 100.00% Share issue and buy-back costs (0.40) 1.88 - - 1.48
s. Pidilite Chemical PLC (PCPLC) Ethiopia 100.00% 100.00%
t. PIL Trading (Egypt) Company (PTC) Egypt 100.00% 100.00% Tax Losses (17.20) (4.09) - (0.22) (21.51)
u. Pidilite Industries Trading (Shanghai) Co Ltd (Pidilite Shanghai) China 100.00% 100.00% TOTAL 109.42 (36.27) (3.58) (0.28) 69.29
v. Bamco Supply and Services Ltd (BSSL)* Thailand 49.00% 49.00%
w. ICA Pidilite Pvt Ltd (ICA) * India 50.00% 50.00%
x. Cipy Polyurethanes Pvt Ltd India 70.00% 70.00% b 2018-19
y. Pidilite Lanka (Pvt) Ltd (PLPL) Sri Lanka 76.00% 76.00% Deferred tax (assets)/ liabilities in relation to:
z. nebula East Africa Pvt Ltd (nebula) Kenya 100.00% 100.00%
Opening Recognised Recognised Foreign Closing
aa. nina Lanka Construction Technologies (Pvt) Ltd Sri Lanka 72.70% 72.70% Balance in Profit or in Other Currency Balance
(nina Lanka)** Loss Comprehen- Translation
th
ab. Pidilite Ventures LLC (w.e.f. 8 August 2018) uSA 100.00% 100.00% sive Income
ac. Pidilite East Africa Limited (w.e.f. 12 February 2019) Kenya 55.00% 55.00% Property, Plant and Equipment 62.06 5.57 - 0.15 67.78
th
ad. Pidilite Grupo Puma Pvt Ltd (PGPPL) * India 50.00% - Intangible Assets 73.69 9.78 - (0.09) 83.38
th
(w.e.f. 16 September, 2019)
ae. Pidilite C-Techos Pvt Ltd (w.e.f. 18 September 2019) India 60.00% - FVTPL financial assets 16.78 0.34 - - 17.12
th
th
af. Pidilite Litokol Pvt Ltd (w.e.f. 7 October 2019) India 60.00% -
(6.19)
(5.80)
0.70
-
(0.31)
[refer note 56(e)] India 50.00% - Other Provisions (14.80) (0.09) (1.83) (0.08) (18.74)
PIDILITE ANNUAL REPORT 2019-20 ah. * nina Percept (Bangladesh) Pvt Ltd*** Bangladesh 60.00% - Share issue and buy-back costs 104.80 (9.92) (1.83) (0.21) (17.20)
ag.
Pidilite Grupo Puma Manufacturing Ltd (PGPML)*
(16.16)
Allowance for Doubtful Debts
-
(2.50)
(w.e.f. 13 January 2020) [refer note 56(f)]
th
0.01
(16.72)
Provision for Employee Benefits
71.81%
(w.e.f. 29 January 2020) [refer note 56(d)]
th
2.77
-
(0.40)
(3.17)
-
ai.
Pidilite C-Techos Walling Ltd
-
India
th
(w.e.f. 5 March 2020) [refer note 56(h)]
-
0.11
(7.39)
Tax Losses
Pidilite MEA Chemicals LLC, BSSL. ICA and PGPML are subsidiaries of the Group even though the Group has 49%, 49%, 50%
TOTAL
6.65
109.42
and 50% ownership interest and voting rights in the subsidiaries respectively. however, based on the relevant facts and circum-
stances, control and management of these entities lie with the Group. The Group has the power to direct the relevant activities of
these entities and therefore controls these entities.
**
nina Lanka Construction Technologies (Pvt) Ltd (nina Lanka) is a 100% subsidiary of nina Percept Private Limited and Pidilite
Lanka (Pvt) Ltd.
238 *** nina Percept (Bangladesh) Pvt Ltd (nina Bangladesh) is a 100% subsidiary of nina Percept Private Limited and Pidilite Speciality
Chemicals Bangladesh Pvt Ltd (PSCB)