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9

record

human creativity

manifested over the decades.

This will enable in times to come, every position holder

to follow and (or) further improve the SOPs.

With the projects executed during the year and

those under execution, along with some projects of

debottlenecking, our Company will have the potential to

achieve sales of

`

3,000 cr

which we hope to accomplish

by 2015-16. We have identified 15 new projects, of which

9 are for expansion of existing products and 6 for new,

but related products with higher contribution margins

and good potential for future growth.

Success of our Company will be determined largely by

the leadership we provide, and it is the responsibility

of the people particularly in senior positions, to lead

by their exemplary personal conduct and professional

approach to business. The leadership related to both

people and business is thus critical so as to inspire and

bring out the best from every employee, and we are

investing in this

timeless ability of people

.

Our Founder had the ability to earn ethically and

willingness to share humbly, and we endeavour to

realise his

vision beyond self

by pursuing the fine

tradition of our Company nurtured over six decades. Our

initiatives remain in step with national priorities, namely,

education, health and infrastructure. We are working

with a strong belief that we must give back much more

than what we take.

On the cover page, earth signifies the workplace and

our commitment to bring out the best in us; sky stands

for the infinite possibilities and our desire to aim higher;

plants symbolise growth and giving and our quest to

achieve sustainability. Quintessentially, we are seeking a

purposeful future that is plural, inclusive and balanced,

and we will carry forward this

inspiring legacy

.

It is my privilege to work with an excellent Atul team

and under the direction and guidance of an eminent

and highly perceptive Board, and I look forward to your

support in our quest for

growth and good governance

.

Sincerely,

(Sunil S Lalbhai)

Chairman and Managing Director

Intelligence may not

be the primary enabler

of our future success. It

is rather our ability to

persevere in adversity,

persist through and learn

from failure and develop

an enduring spirit in the

face of obstacles. We are

therefore focusing on

institutionalising a culture

where such qualities are

promoted, practised

and encouraged.