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ANNUAL REPORT 2018 - 2019
NOTES FORMING PART OF THE CONSOLIDATED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019
Note: 1COMPANYINFORMATION

The Consolidated Financial Statements comprise financial statements of Amines & Plasticizers Limited (“the
HoldingCompany”)anditssubsidiaries(collectivelyreferredtoas“theGroup”)fortheyearended31stMarch
2019.
The principal activities of the Group, consist of manufacturing of organic chemicals / amines/ Gas Treating
Solvents and Development of Software. Further details about the business operations of the Group are
providedinNote44–SegmentInformation.

Note: 2SIGNIFICANTACCOUNTINGPOLICIES
a. BasisofPreparationofConsolidatedFinancialStatements
CompliancewithIndAs

Consolidated financial statements of the Group have been prepared in accordance with the Indian
Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules 2015,the
provisionsofCompaniesAct2013,andguidelinesissuedbytheSecuritiesandExchangeBoardofIndia(SEBI).
Accounting policies have been consistently applied except where a newly issued accounting standard is
initially adopted or a revision to an existing accounting standard requires a change in the accounting policy
hithertoinuse.

HistoricalCostConvention
The consolidated financial statements of the Group are prepared under the historical cost convention on
accrualbasisexceptforthefollowingsassetsandliabilitieswhichhavebeenmeasuredattheirfairvalue:-
➨ Certain financial assets and liabilities that are measured at fair value (refer-Accounting policy regarding
financialsinstruments)
➨ Definedbenefitplans–presentvalueofdefinedbenefitobligationunlessotherwiseindicated.

b. Useofestimatesandjudgements
The preparation of consolidated 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
reportedamountsofassetsandliabilitiesandthedisclosuresofcontingentassetsandliabilitiesatthedateof
thefinancialstatementsandreportedamountsofrevenuesandexpensesduringtheperiod.Althoughthese
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. PrinciplesofConsolidation

i. The financial statements of the Holding Company and its subsidiaries are combined on a line by line
basis by adding together like items of assets,liabilities,equity,incomes,expenses and cash flows,after
fullyeliminatingintra-groupbalancesandintra-grouptransactions.
ii. Profits or losses resulting from intra-group transactions that are recognised in assets,such as Inventory
andProperty,PlantandEquipment,areeliminatedinfull.

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CONSOLIDATED NOTES TO THE ACCOUNTS