Theme
The mangroves depicted above symbolise resilience, demonstrating their ability to survive and grow in challenging environments such as saline waters, tidal zones and tropical coastlines. They protect shores, support diverse wildlife, enhance biodiversity and sequester carbon, playing a vital role in mitigating climate change. Their leaves excrete salt, while stilt-like aerial roots offer stability in muddy terrain and aid respiration, underscoring the importance of innovation for growth in competitive landscapes. Drawing inspiration from these marvels of nature, we continuously endeavour to evolve, elevate and transform our Company into a more resilient entity. We priorities long-term sustainability and lasting value in all that we do.
It is to the one who endures that the final victory comes.
- Gautama Buddha
About Atul
Our Company was founded by Kasturbhai Lalbhai on September 5, 1947 to create wealth in rural areas, generate employment on a large-scale and make India self-sufficient in selected chemicals (and thus igniting the spirit of self-reliance and laying the foundation for a brighter future for our country). It is the first private sector company of independent India to be inaugurated by its first Prime Minister, Jawaharlal Nehru, on March 17, 1952. Today, it is one of the largest integrated chemical companies in India. As a diversified enterprise and part of Lalbhai Group, one of the oldest business houses of India with a rich legacy, it caters to the needs of various industries. It has sustained through time and continues to evolve, driven by its deep-rooted Values and an ethos of sustainability.
Footprint
- Production facilities in India (Ankleshwar, Atul, Panoli and Tarapur)
- Subsidiary companies with production facilities in India (Ambernath and Atul) and the UK (Bristol)
- Joint venture entities with production facilities in India (Atul and Jodhpur)
- Wholly-owned subsidiary companies in Brazil (São Paulo), China (Shanghai), Ireland (Dublin), the UAE (Dubai), the UK (Wilmslow) and the USA (Charlotte)
- Distribution network of retail sales across India
- Sales of retail products in neighbouring countries
Manufactures 900 products and 400 formulations
Owns 140 brands
Serves 4,000 customers in 88 countries
Performance at a glance
- Financial
- Non-financial
Financial
Financial*
₹ 5,583 cr
revenue
₹ 270 cr
capital expenditure
₹ 1,022 cr
EBITDA
₹ 25
dividend per share
₹ 692 cr
PBT
₹ 26 cr
savings through improvements in process efficiency
*consolidated financials
Non-financial
Non-financial
Environmental
7%
increase in renewable energy consumption
1,86,083 MT
waste recycled
88,468 tCO₂e
emissions decreased
Social
1,31,917
direct beneficiaries of CSR projects
44
CSR projects implemented
111
villages reached through infrastructure and conservation initiatives
Governance
no
cases of corruption and anti-competitive practices
no
instances of data breach
100%
adherence to Code of Conduct
Pillars of value creation
Our Company optimises the deployment of the six capitals across its operations to maximise value for its stakeholders.
-
Financial
capital -
Human
capital -
Intellectual
capital -
Manufactured
capital -
Natural
capital -
Social and
relationship capital
Value creation model
Financial Capital
- Net worth: ₹ 5,538 cr
- CapEx: ₹ 191 cr
- Borrowings (net): nil
Human capital
- Team strength: 3,359 members
- Training: 78,079 man-hours
- Safety training: 21,457 man-hours
Intellectual capital
- R&D laboratories: 10
- R&D expenditure: ₹ 41 cr
- R&D team strength: 242
Manufactured capital
- Manufacturing and production sites*: 8
- Manufacturing and production assets*: ₹ 3,024 cr
- Zero liquid discharge sites*: 5
Natural capital
- Total energy consumption: 78,10,518 GJ (of which 1,82,172 GJ is renewable energy consumption)
- Total water consumption: 45,70,869 kL
- Salt (washed) consumption*: 1,53,082 MT
Social and Relationship capital
- CSR amount spent: ₹ 13.59 cr
- No. of customers: 4,000
- No. of suppliers: 3,643
* consolidated basis
Businesses
-
Aromatics
-
Bulk Chemicals and Intermediates
-
Colors
-
Crop Protection - Bulk Actives
-
Crop Protection - Retail
-
Floras
-
Pharmaceuticals
-
Polymers - Performance Materials
-
Polymers - Retail
- Revenue: ₹ 5,075 cr
- PAT: ₹ 456 cr
- RoCE: 13.73%
- Rate of dividend: 250%
- Current leadership team that is homegrown: 74%
- Positions filled internally*: 34%
- LTIFR (permanent team members): 0.06
- Labour unrest: nil
- Amount saved because of of improvement in process efficiency: ₹ 26 cr
- New products developed: 46
- New formulations developed: 24
- Patents granted: 2
- No. of products: 900
- No. of formulations: 400
- Industries served: 30
- Countries served: 88
- Water intensity reduced: 10.5%
- Water harvested: 7,30,454 kL
- Waste recycled: 1,86,083 MT
- Value-added products from waste: 3
- CSR beneficiaries: 1,31,917
- Customer satisfaction score: 84%
- Procurement sourced from India: 81%
- Sourcing by value from suppliers with over 10 years of relationship: 48%
*consolidated basis
Consumers
We aim to provide superior quality products, formulations and services to our well-informed consumers to meet their expectations.
Customers
We supply our products to customers consisting of users and channel partners (distributors and retailers) to grow their businesses (and ours).
People
We aim to create a safe and happy environment, reward team members fairly and provide them with opportunities to learn and grow.
Suppliers and business partners
We partner with suppliers and business partners for our requirement of materials and services which in turn grow their businesses (and ours).
Planet
We aim to make the planet better by improving our operations and bringing down gaseous emissions, liquid effluents and solid wastes.
Government
We contribute to the exchequers, in India and outside, through our business operations and also undertake public-private partnership projects.
Society
We serve, in particular, the communities we operate in, and in general, the society, to make a difference in the lives of people.
Shareholders
We strive to deliver responsible, profitable and consistent growth for our shareholders, taking a long-term view.
Financial Capital
- Net worth: ₹ 5,538 cr
- CapEx: ₹ 191 cr
- Borrowings (net): nil
Human capital
- Team strength: 3,359 members
- Training: 78,079 man-hours
- Safety training: 21,457 man-hours
Intellectual capital
- R&D laboratories: 10
- R&D expenditure: ₹ 41 cr
- R&D team strength: 242
Manufactured capital
- Manufacturing and production sites*: 8
- Manufacturing and production assets*: ₹ 3,024 cr
- Zero liquid discharge sites*: 5
Natural capital
- Total energy consumption: 78,10,518 GJ (of which 1,82,172 GJ is renewable energy consumption)
- Total water consumption: 45,70,869 kL
- Salt (washed) consumption*: 1,53,082 MT
Social and Relationship capital
- CSR amount spent: ₹ 13.59 cr
- No. of customers: 4,000
- No. of suppliers: 3,643
* What we depend on
Businesses
-
Aromatics
-
Bulk Chemicals and Intermediates
-
Colors
-
Crop Protection - Bulk Actives
-
Crop Protection - Retail
-
Floras
-
Pharmaceuticals
-
Polymers - Performance Materials
-
Polymers - Retail
- Revenue: ₹ 5,075 cr
- PAT: ₹ 456 cr
- RoCE: 13.73%
- Rate of dividend: 250%
- Current leadership team that is homegrown: 74%
- Positions filled internally*: 34%
- LTIFR (permanent team members): 0.06
- Labour unrest: nil
- Amount saved because of of improvement in process efficiency: ₹ 26 cr
- New products developed: 46
- New formulations developed: 24
- Patents granted: 2
- No. of products: 900
- No. of formulations: 400
- Industries served: 30
- Countries served: 88
- Water intensity reduced: 10.5%
- Water harvested: 7,30,454 kL
- Waste recycled: 1,86,083 MT
- Value-added products from waste: 3
- CSR beneficiaries: 1,31,917
- Customer satisfaction score: 84%
- Procurement sourced from India: 81%
- Sourcing by value from suppliers with over 10 years of relationship: 48%
*consolidated basis
Consumers
We aim to provide superior quality products, formulations and services to our well-informed consumers to meet their expectations.
Customers
We supply our products to customers consisting of users and channel partners (distributors and retailers) to grow their businesses (and ours).
People
We aim to create a safe and happy environment, reward team members fairly and provide them with opportunities to learn and grow.
Suppliers and business partners
We partner with suppliers and business partners for our requirement of materials and services which in turn grow their businesses (and ours).
Planet
We aim to make the planet better by improving our operations and bringing down gaseous emissions, liquid effluents and solid wastes.
Government
We contribute to the exchequers, in India and outside, through our business operations and also undertake public-private partnership projects.
Society
We serve, in particular, the communities we operate in, and in general, the society, to make a difference in the lives of people.
Shareholders
We strive to deliver responsible, profitable and consistent growth for our shareholders, taking a long-term view.
Stakeholder engagement
We actively engage with stakeholders who not only influence the business, but also those who are impacted by the operations of our Company.
The business model of our Company places stakeholders at the core, ensuring that their evolving needs and expectations guide our decision-making. This approach fosters trust, safeguards stakeholder interests and strengthens relationships built on mutual respect and shared growth. Through continuous engagement, we address stakeholder priorities, integrate their insights into strategic planning and drive sustained value creation across the short, medium and long-term.
Financial trend (standalone financials) - five years
Financial trend (standalone financials) - 10 years
Financial trend (consolidated financials) - 10 years
Materiality assessment
Materiality assessment serves as the foundation of the environmental, social and governance (ESG) initiatives for our Company, enabling us to identify and prioritise issues that are significant to the business and stakeholders. By engaging with diverse stakeholders across the value chain, we gain valuable insights into evolving priorities, ensuring that the ESG initiatives are relevant to and aligned with their expectations. This sharpens our understanding of material topics and strengthens the ability to deliver on identified ESG priorities and enhances the relevance and impact of the efforts taken towards those initiatives.
Risk management
Key risks
- 1Digitalisation risk
- 2Geopolitical risk
- 3Business performance risk
- 4Cyber risk
- 5Supply chain risk
- 6Talent risk
- 7Compliance risk
- 8Adverse regulatory risk
- 9Sustainability risk
- 10Safety risk
Risk categories
- Strategic
- Operational
- Regulatory
- Sustainability
- Reputation
Risk mapping
ESG action report
Our Company is committed to embedding environmental, social and governance (ESG) principles into its business operations. Sustainability has always been a core focus and we view ESG as the key driver of long-term stakeholder value and a means to improve the quality of life in the communities we serve. Materiality is central to the business strategy of our Company and thus through structured stakeholder engagement, we identify and prioritise ESG issues material to the business and ecosystem. This section offers a comprehensive overview of the ESG commitments, actions and their impacts.
Environmental
Our Company has been sensitive to the environment since its inception. The natural forest created at the first site makes it one of the greenest chemical complexes of its kind in the world.
Social
Our Company is committed to creating a positive social impact since its founding 78 years ago. We place the communities, people, supply chain partners and other stakeholders at the center of all that we do.
Governance
Transparent and ethical governance forms the foundation of the business strategy and shapes the organisational culture with strong corporate governance practices.
Board of Directors
Committees of the Board
- Audit Committee
- Nomination and Remuneration Committee
- Corporate Social Responsibility Committee
- Risk Management Committee
- Investment Committee
- Stakeholders Relationship Committee
- C Chairperson
- M Member
- M
- M
- C
- M
Sunil Lalbhai
Mr Sunil Lalbhai is a Managing Director since June 1984 and the Chairman of the Company since August 2007.
Mr Lalbhai holds a postgraduate degree in Chemistry from the University of Massachusetts and a postgraduate degree in Economic Policy and Planning from Northeastern University.
Samveg Lalbhai
Mr Samveg Lalbhai is a Director since January 2000 and a Managing Director of the Company since December 2000.
Mr Lalbhai holds a graduate degree in Commerce from Gujarat University.
Bharathy Mohanan
Mr Bharathy Mohanan joined the Company in August 1992 and was a Whole-time Director from January 2009 to May 2025.
Mr Mohanan holds a graduate degree in Engineering (Honours) from the University of Calicut.
- M
- M
Gopi Kannan Thirukonda
Mr Gopi Kannan Thirukonda joined the Company in October 1993 and is a Whole-time Director since October 2014. He is currently the Chief Financial Officer of the Company.
Mr Thirukonda holds a graduate degree in Science from the University of Madras and a postgraduate diploma in Management from the Indian Institute of Management, Ahmedabad. He is a Member of the Institute of Chartered Accountants of India, the Institute of Cost and Management Accountants of India and the Institute of Company Secretaries of India.
Mukund Chitale
Mr Mukund Chitale was a Director of the Company from October 2014 to October 2024. He is a founder of the Chartered Accountancy firm, Mukund M Chitale & Co.
Mr Chitale holds a graduate degree in Commerce from the University of Mumbai and is a Member of the Institute of Chartered Accountants of India.
Shubhalakshmi Panse
Ms Shubhalakshmi Panse was a Director of the Company from March 2015 to March 2025. She was the Chairperson and Managing Director of Allahabad Bank Ltd.
Ms Panse holds a postgraduate degree in Science from Savitribai Phule Pune University and a postgraduate degree in Business Administration from Drexel University and is a certified Associate of the Indian Institute of Bankers.
Baldev Arora
Mr Baldev Arora was a Director of the Company from April 2015 to March 2025. He was the Chairman of Cyanamid Agro Ltd and the Chairman and Managing Director of Wyeth Lederle Ltd.
Mr Arora holds a graduate degree in Mechanical Engineering from Panjab University.
- C
- M
Pradeep Banerjee
Mr Pradeep Banerjee is a Director of the Company since May 2022. He was an Executive Director on the Board of Hindustan Unilever Ltd (HUL), the Managing Director of a joint venture entity of HUL in the Netherlands and the Chairman of a joint venture entity of HUL in Nepal. He is a senior advisor to Boston Consulting Group and a Designated Partner in Pradeep Banerjee Associates LLP.
Mr Banerjee holds a graduate degree in Chemical Engineering from Indian Institute of Technology, Delhi.
- M
- C
- M
Rangaswamy Iyer
Mr Rangaswamy Iyer is a Director of the Company since May 2023. He was the Finance Director and Managing Director of Cyanamid and Wyeth India Ltd. Currently, he advises Lincoln International, USA and consults multiple firms on business strategy and development.
Mr Iyer holds a postgraduate degree in Commerce and a postgraduate degree in Financial Management from the University of Mumbai.
- C
Sharadchandra Abhyankar
Mr Sharadchandra Abhyankar is a Director of the Company since October 2023. He is a Senior Partner at Khaitan & Co and is engaged with the NSE Center of Excellence, UPES School of Law, Government Law College, Mumbai and the Department of Law at Mumbai University.
Mr Abhyankar holds a graduate degree in Arts (Economics and Commerce) and a postgraduate degree in Law from the University of Mumbai and is a member of The Bombay Incorporated Law Society.
- M
- C
- M
Sujal Shah
Mr Sujal Shah is a Director of the Company since October 2023. He is a Founding Partner at SSPA & Co. He contributed to drafting valuation standards for the Institute of Chartered Accountants of India and has authored numerous valuation-related papers.
Mr Shah holds a graduate degree in Commerce from the University of Mumbai and is a Member of the Institute of Chartered Accountants of India.
- C
- M
Praveen Kadle
Mr Praveen Kadle is a Director of the Company since May 2024. He is the Managing Director of Prachetas Capital Pvt Ltd. He has held various senior positions in Tata Group.
Mr Kadle holds a graduate degree in Commerce from the University of Mumbai. He is a Member of the Institute of Chartered Accountants of India, the Institute of Cost and Management Accountants of India and the Institute of Company Secretaries of India.
Padmaja Chunduru
Ms Padmaja Chunduru is a Director of the Company since January 2025. She was the Managing Director and Chief Executive Officer of National Securities Depository Ltd and the Managing Director and Chief Executive Officer of Indian Bank. She has held various senior positions at State Bank of India.
Ms Chunduru holds a postgraduate degree in Commerce from Andhra University.
- M
Vivek Gadre
Mr Vivek Gadre joined the Company in June 1988 and is a Whole-time Director since January 2025. He is currently the President, Corporate Strategy of the Company.
Mr Gadre holds a graduate degree in Chemical Engineering from Indian Institute of Technology, Delhi and a postgraduate diploma in Management from Indian Institute of Management, Calcutta.