Atul Ltd 2016-17

01 Recalling | 2016-17 02 Corporate identity 04 Serving diverse industries 05 Footprint 06 Purpose and Values 08 Letter to the Shareholders 10 Operational highlights 12 Financial charts 16 Serving the society 18 Board of Directors 19 Directors’ Report 23 Annexure to the Directors’ Report 46 Management Discussion and Analysis 53 Corporate Governance Report 68 Business Responsibility Report 74 Dividend Distribution Policy 75 Notice 84 Performance trend Standalone Financial Statements 86 – Independent Auditors’ Report 92 – Financial Statements Consolidated Financial Statements 152 – Independent Auditors’ Report 156 – Financial Statements Every seed has the potential to become a tree. ~ Gautama Buddha Contents 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 statements that we make are based on our assumptions. We have tried whenever 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 may 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. A coconut palm is considered a kalpavruksha (a tree that provides all the necessities of life) that stands tall through various seasons, with the support of its straight, columnar trunk and strong, fibrous roots. With each passing year, the palm rises towards the sky and sprouts leaves for shelter and bears fruit for nourishment. While this dynamic growth is noticeable, the fact remains that it firmly withstands the strongest winds with the help of its deep, well entrenched roots. It is the endeavour of team Atul to think deeply, grow sustainably and create value for its Stakeholders, all this by institutionalising processes and empowering teams to deliver innovative solutions.

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