Atul Ltd 2015-16

53 The main user industries, namely, Paint and Coatings and Textile, will continue to grow because of increase in discretionary spending. The Company along with RACL will participate in this growth by i) broadening its market reach in new geographies, ii) increasing its manufacturing and working capital efficiencies and iii) introducing new dyes, pigments and products for non- textile applications. Fluctuations in foreign exchange and availability of raw materials may impact sales realisations. Treatment costs are expected to remain high given that the manufacture of dyes and pigments generates significant pollutants. Polymers Product groups: Epoxy Resins and Hardeners, Reactive Diluents, Sulphones, Rubber and Polyurethane based Adhesives, Others The products falling under these product groups are used by customers belonging to Aerospace, Automobile, Composites, Construction, Defence, Electrical and Electronics, Footwear, Paint and Coatings, Paper, Sports and Leisure and Wind Energy industries. The product groups comprise about 82 synthetic products and 290 formulations. B11, P62 and P101 are some of the key products. During 2015-16, sales increased by 1% from ` 697 cr to ` 704 cr. Sales in India decreased by 2% from ` 458 cr to ` 449 cr. Brand sales decreased by 7% from ` 95 cr to ` 88 cr. Sales outside India increased by 7% from ` 239 cr to ` 255 cr and formed 36% of the total. Growth on account of volume was 6%. Sales from new products were ` 39 cr. The Company completed 3 projects and undertook 2 projects for implementation. World market for Epoxy Resins and Hardeners is estimated at US$ 6.3 bn and is growing at about 2% and Indian market is estimated at US$ 250 mn and is growing at about 6%. There are about 7 major companies which dominate the world marketplace. World market for Sulphones (a hardener) is estimated at US$ 320 mn and is growing at about 4%. The user industries, Construction, Defence, Electrical and Electronics, Paint and Coatings and Wind Energy are growing well, particularly in India. The Company will participate in this growth by i) widening its market reach, ii) increasing its manufacturing andworking capital efficiencies, iii) generating and adding new capacities of Epoxy Resins and Hardeners and iv) introducing new products and formulations.