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32 to cut down pollutants

16 to debottleneck, reduce time cycles and

improve batch sizes

9 to improve HR processes

Our Company profile has changed not only in terms

of sales, but also its diversity. The earlier way of

segmentation though then valid had to be reviewed,

and we have from this year started presenting our

businesses under two new

Segments

, namely

Life Science Chemicals and Performance & Other

Chemicals. This is further explained on page 25.

We will be able to face external situations better if we

have internal preparedness. We are hence upgrading

our

HR processes

and focusing on relevant

behavioural and functional competencies so as to

help us become more capable. Leadership is more

about self management, and we are endeavouring

to internalize this basic understanding that we must

learn to manage ourselves first to be a good leader.

The founder of our Company and one of the foremost

Indians of his times,

Mr Kasturbhai Lalbhai

, lived

his life with a larger purpose and fulfilled his social

responsibilities in good measure. While being a part

of this distinguished legacy is a privilege for all of us

working with Atul, it also casts on us the responsibility

to live up to it. You will be pleased to know that

our Company is committing more to this cause,

not only in terms of money, but also time. We are

convinced that this will only improve and sustain the

performance of our Company, for this is the ultimate

obligation of any business.

Our Company has

competent people

who are

committed to work on a long-term basis; this though

difficult now a days, is essential when we want to

achieve a common vision. Furthermore, the

Board

of our Company consists of eminent professionals. It

is my privilege to work under the guidance of such

distinguished Directors on the one hand and with a

team of dedicated employees on the other.

We in Atul are confident to face the future, and you

may remain assured of our total

commitment

to

the tasks on hand. May God be with us in all that lies

ahead.

Sincerely,

Sunil S Lalbhai

Our collective and individual actions are focused

on consistent improvements in all that we

undertake. Given that actions and results are

different stages of the same process, results will

follow actions. It is therefore our endeavour to

build a company where we learn to develop

depth in our thinking for if our thoughts are

good so will be our actions and therefore our

results.

Sunil S Lalbhai

08 I 09