Atul Ltd 2019-20

2 01 Remembering 2019-20 02 Corporate identity 04 Indomitable Purpose 05 Ingrained Values 06 Business model 08 Serving diverse industries 09 Footprint 10 Operational highlights 12 Financial charts 16 Serving the society 18 Letter to the shareholders 20 Board of Directors 22 Directors’ Report 27 Annexure to the Directors’ Report 50 Management Discussion and Analysis 56 Corporate Governance Report 76 Business Responsibility Report 82 Dividend Distribution Policy 83 Notice 90 Performance trend Standalone Financial Statements 93 Independent Auditor’s Report 102 Financial Statements Consolidated Financial Statements 156 Independent Auditor’s Report 164 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 thereby comprehend our prospects. Such statements that we 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 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. Contents To read this report online or to download, please visit www.atul.co.in It is our reaction to adversity, not adversity itself that determines how our life story will develop. - Swami Vivekananda Turmeric, ginger and basil (which can be grown even in pots) in diet and pranayama as exercise have been considered a part of daily living to help build immunity. They make us strong to fight infectious and other diseases and ensure good health required to grow and fulfil our dreams. Atul is focusing on people productivity, process efficiency and product quality so as to serve its customers in the best possible way and in turn help it sustain even in difficult times. These attributes make our Company resilient to face the future and ensure its health required to grow and fulfil its purpose. 43 rd Annual General Meeting Friday, July 31, 2020 10:30 am The meeting will be held through video conference. The Members may send their comments on or suggestions for improvement of the Annual Report by e-mail to shareholders@atul.co.in