Amal Ltd 2016-17

89 Notes to the Financial Statements iii) Designation of previously recognised financial instruments Ind AS 101 allows the Company to designate investments in equity instruments at FVTPL on the basis of the facts and circumstances at the date of transition to Ind AS. The Company has elected to apply this exemption for its investment in equity investments b) Ind AS mandatory exceptions: i) Estimates Estimates in accordance with Ind AS at the transition date shall be consistent with estimates made for the same date in accordance with IGAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error. Ind AS estimates as at April 01, 2015 are consistent with the estimates as at the same date made in conformity with IGAAP. The Company made estimates for following items in accordance with Ind AS at the date of transition as these were not required under IGAAP: 1) Investment in equity instruments carried at F V TPL 2) Impairment of financial assets based on expected credit loss model. ii) Classification and measurement of financial assets Ind AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS. B. Reconciliations between IGAAP and Ind AS Ind AS 101 requires an entity to reconcile equity, total comprehensive income and cash flows for prior periods. The following tables represent the reconciliations from IGAAP to Ind AS. i) Reconciliation of equity as at March 31, 2016 and April 01, 2015 ( ` 000) Notes As at March 31, 2016 As at April 01, 2015 Regrouped IGAAP* Adjustments Ind AS Regrouped IGAAP* Adjustments Ind AS Assets Non-current assets Property, plant and equipment 57,933 - 57,933 59,684 - 59,684 Capital work-in-progress 3,866 3,866 - - - Financial assets i. Investments 210 - 210 210 - 210 ii. Other financial assets 3,905 - 3,905 2,554 - 2,554 Other non-current assets 1,230 - 1,230 3,509 - 3,509 67,144 - 67,144 65,957 - 65,957 Current assets Inventories 12,177 - 12,177 13,808 - 13,808 Financial assets i. Investments - - - - - ii. Trade receivables 4,598 - 4,598 2,890 - 2,890 iii. Cash and cash equivalents 1,076 - 1,076 4,033 (1,040) 2,993 iv. Bank balances other than (iii) above - - - - 1,040 1,040 Current tax assets (net) 71 - 71 94 - 94 Other current assets 3,431 - 3,431 2,918 - 2,918 21,353 - 21,353 23,743 - 23,743 88,497 - 88,497 89,700 - 89,700