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9

future ready and seize new opportunities; attracting,

nurturing and retaining people then become an integral

part of leadership at all levels. Our Company has always

had a working environment wherein

people

are valued,

respected and professionally challenged to give their best,

and we are focusing on and reinforcing these fundamental

leadership qualities.

We renew ourselves continuously so as to remain a young

company after 66 years of existence. Our determination to

go into details, our commitment to serve customers across

the world, our aspirations to growmeaningfully and our

responsibility towards the people and planet will

determine the tangible and intangible performance of our

Company. We have endeavoured to portray this

mandate

on the cover page.

Our Company has a huge potential to contribute to all

its Stakeholders, and I wish to

recognise the efforts

made by every member of Atul family who is working to

realise the possibilities of our times. My colleagues and I

are privileged to receive directions, encouragement and

guidance from the erudite and experienced Independent

Directors who are amongst the best. Finally, I thank you

for your support in our endeavour to grow Atul in a wider,

more dynamic world.

As we move into the future, may God bless us with both

what we desire and deserve.

Sincerely,

(Sunil S Lalbhai)

Chairman and Managing Director

Leadership is first about managing

self before managing others. Those

in leadership positions in Atul are

receptive to this timeless truth. As

our Company grows beyond its

current boundaries, self managing

leadership becomes even more

critical. We are endeavouring to

promote a work environment

wherein we lead by strength of

our innate and attained abilities

and not simply by the force of our

positions. This is one of the primal

tasks of leadership.

* excluding Pharmaceutical Industry

** excluding one time special dividend income