Atul Ltd 2010-11

As per our attached report of even date For and on behalf of the Board of Directors For Dalal & Shah Firm Registration No. 102020W Sunil S Lalbhai Chartered Accountants Chairman & Managing Director G S Patel S S Baijal B S Mehta H S Shah S Venkatesh S M Datta Partner R A Shah Samveg A Lalbhai Membership No. F-037942 T R Gopi Kannan V S Rangan Managing Director Mumbai President, Finance & B N Mohanan Mumbai May 13, 2011 Company Secretary Directors May 13, 2011 Consolidated Profit and Loss Account for the year ended March 31, 2011 ( ` crores) Particulars Schedule 2010-11 2009-10 INCOME Gross sales 1,616.68 1,249.82 Less: Excise duty 86.56 57.84 Net sales 1,530.12 1,191.98 Operating income 9 39.70 31.75 Sales and operating income 1,569.82 1,223.73 Other income 10 5.43 5.38 1,575.25 1,229.11 EXPENDITURE Cost of goods sold and materials consumed 11 897.62 674.75 Manufacturing expenditure 12 225.97 181.88 Employees’ emoluments 13 108.20 106.12 Interest and finance charges 14 25.54 25.76 Others 15 141.53 115.42 Exchange rate difference 8.87 8.86 Depreciation 39.64 38.58 Amortisation of leasehold land 0.28 0.28 Amortisation of computer software 0.78 0.62 40.70 39.48 Less: Amount withdrawn from revaluation reserve 2.06 2.06 38.64 37.42 1,446.37 1,150.21 Profit before tax and exceptional items 128.88 78.90 Exceptional items Gain on settlement of long-term export advance 8.20 – Recovery of advance written off in earlier years 1.90 – 10.10 – Profit before tax 138.98 78.90 Provision for tax Current tax 42.62 22.29 Deferred tax 0.47 4.85 Wealth tax 0.11 0.10 43.20 27.24 Profit for the year 95.78 51.66 Share of profit in associate companies 0.54 – Minority interest (0.04) 0.08 96.36 51.58 Add | (Less): Tax adjustments for the earlier years Income tax and wealth tax (6.11) 0.04 Additional MAT entitlement for the earlier years – 3.89 Net profit for the year 90.25 55.51 As per last account 265.21 229.22 Net profit available for appropriation 355.46 284.73 Appropriations General reserve 5.68 5.68 Proposed dividend 13.35 11.87 Corporate dividend tax on above 2.16 1.97 15.51 13.84 Balance carried to Balance Sheet 334.27 265.21 Basic | diluted earning per share (see Note 8) ` 30.43 ` 18.71 Notes forming part of the Accounts 16 98 | 99