Polymers – Retail Product groups: adhesives based on epoxy, synthetic rubber, polyurethane, cyanoacrylate, PVC, PVA and epoxy sealants, tapes and protective paints The products falling under these product groups are used by customers belonging to the Automobiles, Construction Chemicals, Flooring, Foam and Furnishing, Footwear, Furniture, Handicraft, HVAC, Stone Processing and Sports Goods industries. The product groups comprise 236 products. Synthetic rubber adhesives (brushable and sprayable), polyurethane adhesives, natural rubber adhesives, epoxy adhesives, cyanoacrylate adhesives, epoxy sealants, multi-purpose spray and protective paints are some of the key product groups predominantly targeted towards the domestic market. During 2024-25, sales marginally increased from ` 243 cr to ` 245 cr. Growth on account of volume was 4%, which was negated by price erosion. The Indian market for adhesives and sealants is estimated at US$ 2.2 bn and is projected to grow at a CAGR of 5.1% to reach US$ 3.1 billion by 2030. Footwear, Foam and Furnishing, Construction, Furniture and HVAC industries are growing well. The Company will participate in this growth by — i) improving manufacturing and working capital efficiencies, ii) debottlenecking and adding capacities, iii) introducing new products and iv) widening market reach to new geographies. Price sensitivity, fluctuating raw material prices and new entrants in the market will keep the market competitive and may keep margins under pressure. Since the two main raw materials, namely chloroprene rubber and thermoplastic polyurethane are imported, fluctuations in foreign exchange may impact margins. The Company has comprehensive internal control systems which are commensurate with the nature of its business, its size and the complexity of its operations. They provide reasonable assurance on the effectiveness and efficiency of its operations, reliability of financial reporting and compliance with the applicable laws and regulations. The internal control systems are routinely tested and upgraded for both design and operational effectiveness by the Management and are audited by both the Internal and Statutory Auditors. Internal Audit The Company has an in-house Internal Audit department which includes professionals from finance, Internal Control Systems IT and engineering disciplines and is also working with reputed audit firms, specialising in internal audits. Together, they have the responsibility to identify areas requiring control enhancements, automation and implementation of leading practices for the Company, its subsidiary, joint ventures, associate entities, and Atul Foundation and the entities overseen by it. 71 71 71 Corporate overview Performance overview ESG overview Statutory Reports Financial Statements
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