Atul Ltd 2009-10

50 Notice 56 Ten Year Review 58 Financial Statements Forward Looking Statements In this Annual Report, we have shared information and made forward looking statements to enable investors to know our product portfolio, business logic and direction and comprehend our prospects. Such and other statements - written and oral - that we may periodically make are based on our assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘intend’, ‘plan’, ‘project’ and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward looking statements will be realized although we believe we have been prudent in our assumptions. The achievement of results is subject to uncertainties, risks and even inaccurate assumptions. If uncertainties or known or unknown risks materialize or if underlying assumptions prove inaccurate, actual results can vary materially from those anticipated, estimated, intended, planned or projected. Readers may please bear this in mind. We undertake no obligation to publicly update any forward looking statements, whether as a result of new information, future events or otherwise. Contents The voyage of discovery is not in seeking new landscapes, but in having new eyes. - Marcel Proust 02 Corporate Identity 04 Serving Diverse Industries 06 Purpose and Values 08 Overview by the Chairman 10 Operational Highlights 12 Financial Analysis 16 Research and Technology 18 Safety, Health and Environment 20 Serving the Society 22 Directors’ Report 26 Management Discussion and Analysis 34 Report on Corporate Governance

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