Amal Ltd | Annual Report 2023-24 (` lakhs) Note 12 Other equity As at March 31, 2024 As at March 31, 2023 a) Securities premium 5,520.28 5,520.28 b) Retained earnings 530.60 287.60 c) Other reserves Capital contribution from Atul Ltd 1,646.57 1,646.57 7,697.45 7,454.45 Refer Standalone Statement of changes in equity for detailed movement in other equity balance. Nature and purpose of reserves a) Securities premium Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013. b) Retained earnings Retained earnings are the profits that the Company has earned till date, any transfers from or to other comprehensive income, dividends or other distributions paid to shareholders. c) Other reserve As per Modified Sanction Scheme MS-10 and MS-13 approved by the Board of Industrial Finance and Reconstruction, the Company issued 0% redeemable and non-convertible preference shares of ` 1,000 lakhs to Atul Ltd (promoter) and received interest-free secured loan of ` 1,128.89 lakhs and interest-free unsecured loan of ` 539.58 lakhs from Atul Ltd. These financial liabilities are measured at amortised cost and the initial fair value difference is recognised as a capital contribution from Atul Ltd. (` lakhs) Note 13 Provisions As at March 31, 2024 As at March 31, 2023 Current Non-current Current Non-current a) Provision for compensated absences 1.29 9.44 1.39 10.85 b) Others (refer Note (b) below) 443.85 - 386.75 - 445.14 9.44 388.14 10.85 i) Information about individual provisions and significant estimates a) Compensated absences The compensated absences cover the liability for earned leave. Out of the total amount disclosed above, the amount of ` 1.29 lakhs (March 31, 2023: ` 1.39 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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