Page 105 - inside page.cdr

ANNUAL REPORT 2018 - 2019
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 1ST MARCH 201 9
Note:1 COMPANYINFORMATION

Amines & Plasticizers Limited (the ‘Company’) is a public limited Company incorporated in India in the
year 1973 having its registered office located at Poal & Enclave c/o Pranati Builders Private Ltd, Principal
J. B. Road, Chenikuthi Guwahati-781003 and corporate office located at 6th Floor, 'D' Building, Shiv Sagar
Estate, Dr.AnnieBesantRoad, Worli, Mumbai-400018.TheCompanyislistedontheBombayStockExchange
(BSE).
The Company manufactures over 60 different varieties of organic chemicals / amines/ solvents / fertilizers.
The main products manufactured are Methyl Diethonalamine (MDEA) and N Methyl Morpholine Oxide
(NMMO) which are used in Petrochemicals and Oil refineries, Gas plants and Textiles. The Company has
manufacturing facilities at Navi Mumbai and sells its products in Indian Market and is regularly exporting to
variouscountries.
Note:2 SIGNIFICANTACCOUNTINGPOLICIES

a. BasisofPreparationofFinancialStatements
CompliancewithIndAs
These financial statements have been prepared in accordance with the Indian Accounting Standards
(hereinafter referred to as the‘Ind AS’) as notified by Ministry of Corporate Affairs pursuant to Section 133 of
the Companies Act 2013 (‘Act’) read with of the Companies (Indian Accounting Standards) Rules, 2015 as
amendedandotherrelevantprovisionsoftheAct.

Theaccountingpoliciesareappliedconsistentlytoalltheperiodspresentedinthefinancialstatements.
HistoricalCostConvention
The financial statements have been prepared under the historical cost convention except for the followings
assetsandliabilitieswhichhavebeenmeasuredattheirfairvalue: -
Certain financial assets and liabilities that are measured at fair value (refer-Accounting policy regarding
financialsinstruments)
Definedbenefitplans–presentvalueofdefinedbenefitobligationunlessotherwiseindicated.
b. Useofestimatesandjudgements

The preparation of financial statements in conformity with Ind AS requires the management to make
judgments, estimates and assumptions that affect the application of accounting policies and the reported
amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the
financial statements and reported amounts of revenues and expenses during the period. Although these
estimates are based on the management’s best knowledge of current events and actions,uncertainty about
these assumptions and estimates could result in the outcomes requiring a material adjustment to the
carrying amounts of assets or liabilities prospectively. Information about critical judgments in applying
accountingpolicies,aswellasestimatesandassumptionsthathavethemostsignificanteffecttothecarrying
amountsofassetsandliabilitieswithinthenextfinancialyear,areincludedinthefollowingnotes:
i. Measurementofdefinedbenefitobligations-NoteNo.37

ii. Measurementandlikelihoodofoccurrenceofprovisionsandcontingencies-NoteNo.17,22A&31
iii. Recognitionofdeferredtaxassets/liabilities–NoteNo.18B
c. Recentaccountingdevelopments

i. Ind AS 116,Leases - On 30th March 2019,the Ministry of Corporate Affairs (MCA) has notified the
Companies (Indian Accounting Standards) Amended Rules, 2019 (“amended rules”) which the

101
NOTES TO THE ACCOUNTS