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. The Members may send in their comments or suggestions for improvement of the annual report by e-mail to shareholders@atul.co.in Let me pray not to be sheltered from dangers, but to be fearless in facing them. - Rabindranath Tagore Tender leaves and flowers of purple mountain saxifrage plant emerging through solid rocks is epitome of a resilient life. The plant is responsive to challenges and is rising against odds. A successful business endures, sustains and grows like the plant. It is our endeavour to see that we build a resilient, responsive and rising business. The gift of Values binds us and helps us in this journey. Contents Recapping 2021-22 01 Milestones 02 Corporate identity 04 Purpose 06 Values 07 Business model 08 Serving diverse industries 10 Footprint 11 Operational highlights 12 Financial charts 14 Serving the society 18 Letter to the shareholders 20 Board of Directors 22 Directors’ Report 24 Annexure to the Directors’ Report 30 Management Discussion and Analysis 44 Corporate Governance Report 51 Business Responsibility and Sustainability Report 71 Notice 95 Performance trend 108 Standalone Financial Statements Independent Auditor’s Report 111 Financial Statements 122 Consolidated Financial Statements Independent Auditor’s Report 186 Financial Statements 194 To download or read this report online, please visit www.atul.co.in 45th Annual General Meeting Friday, July 29, 2022 10:30 am The meeting will be held through video conferencing.
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