ANNUAL REPORT
2021-22

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.

Let me pray not to be sheltered from dangers,
but to be fearless in facing them.

- Rabindranath Tagore

Recapping 2021-22

World economy* grew by 5.90%

Crude oil, steel prices and forex rates
remained unpredictable and varied between

US$ 61.47 and
US$ 133.18 per barrel
₹ 53,000 and
₹ 65,400 per mt
₹ 76.97 and
₹ 72.40 per US$

70 years of operations

Incorporated on September 05, 1947, the story of Atul is closely linked to that of independent India. The Company is the first private sector enterprise of the country to be inaugurated by its first Prime Minister, Pandit Jawaharlal Nehru. It was established to generate employment on a large-scale, create wealth in rural areas and become self-sufficient in selected chemicals then totally imported.

Atul has been serving the society since its incorporation in step with the tradition of its legendary Founder, Kasturbhai Lalbhai.

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Corporate identity

Valley of flowers

Our ability to reach unity in diversity will be the beauty and the test of our civilisation.

- Mahatma Gandhi

Valley of flowers is a national park located in Uttarakhand, India. The valley is home to about 600 species of flowers and is known for its meadows of endemic alpine flowers and a variety of flora. It is a UNESCO world heritage site. Here nature blooms in full glory offering a breath-taking experience – this also stands testimony to the delightful impact that diversity can create. Team Atul preserves and celebrates its diversity with offices in four continents and its members belonging to different cultures, nationalities and religions, all contributing to the common goal of growth of the Company and service to humanity.

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Business model

A business model is not a mere representation of the operations of an organisation, but is one that is endeavouring to create, deliver and capture value. Ultimately, it is tested against time and adversity. When an organisation and its approach sustain through volatile and uncertain business cycles and still create, deliver and capture value for the stakeholders, then they can well be called a model business.

Our business model puts the customer at the centre of the business and decision-making and provides a foundation for future growth. We strive for innovation and excellence in select chemistries to delight our customers with our consistently superior quality, competent prices and valuable technical services. We aim to create lasting value and deliver benefits to our customers and the economies and communities we operate in.

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Footprint

Manufactures 900 products and 400 formulations
Serves 4,000 customers in 75 countries.

Owns 140 brands

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Operational highlights

Curiosity evokes knowledge and enhances our learning. Knowledge becomes useful when it is prompted by the rigour of action. Our endeavour is to augment deep insights and foster favourable changes to bring improvements across each function.

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Serving the society

The Founder of our Company devoted half a day every day of his adult life to serve the society. The business enterprises he established invariably contributed in serving the society. His legacy of perseverance and exemplary service has been the inspiration for team Atul ever since its inception in 1947.

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Financial charts

Letter to the shareholders

I appreciate your trust – it puts more onus on the Management to perform and make our Company grow.

Way ahead Although it may be difficult to imagine in these times of hardship and uncertainty, there are boundless opportunities ahead, and I am encouraged because of all those who have continued to work hard even in face of many constraints. I am certain that we will collectively achieve much more together. Although our Company (and our country) will complete 75 years on September 05 (and August 15) this year, it is still early days for us – we will persevere for decisively improving the businesses we are in, launching sensibly related businesses and evolving ideas we have yet to imagine. In essence, we continue to be young at 75. Sincerely,

Sunil Siddharth Lalbhai Chairman and Manging Director
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Board of Directors

  • 3
  • 4

Rajendra Shah

Mr Rajendra Shah is a Director of the Company since May 1983. He is a Senior Partner of Crawford Bayley & Co, a firm of Solicitors and Advocates.

Mr Shah holds a degree in Law from the University of Mumbai and has passed Solicitor exam from the Honourable High Court at Mumbai.

Board Committees

  • 1. Audit Committee
  • 2. Corporate Social Responsibility Committee
  • 3. Investment Committee
  • 4. Nomination and Remuneration Committee
  • 5. Risk Management Committee
  • 6. Stakeholders Relationship Committee
  • Chairperson
  • Member