Atul Ltd 2012-13

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 thereby 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’, ‘believe’, ‘estimate’, ‘intend’, ‘plan’, ‘project’ or words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward looking statements will be realised although we believe we have been prudent in our assumptions. The actual results may be affected because of uncertainties, risks and even inaccurate assumptions. If uncertainties or known or unknown risks materialise or if underlying assumptions prove inaccurate, actual results can vary materially from those anticipated, believed, estimated, intended, planned or projected. We undertake no obligation to publicly update any forward looking statements, whether as a result of new information, future events or otherwise. Contents Our rewards will always be in exact proportion to our service. - Earl Nightingale On the cover page, the plants reflect our commitment to grow consistently and give back more than what we take, the earth signifies our commitment to environment and the sky our aspiration to grow. Thus, our purpose is larger and shared. We have inherited this enriched legacy from our predecessors and are privileged to carry it forward. Corporate Identity Serving Diverse Industries Purpose and Values Letter to the Shareholders Operational Highlights Financial Charts Research Technology and Manufacturing 02 04 06 08 10 12 16 17 Safety, Health and Environment Serving the Society Directors’ Report Management Discussion and Analysis Report on Corporate Governance Notice Ten Year Review Financial Statements 18 20 23 25 32 46 54 55