Atul Ltd 2016-17

9 This is a key task for the HR function and leadership at different levels. What we are doing is not meant to be easy – some for the first time anywhere (for example, becoming the best in the world in efficiencies) and some for the first time in our Company (for example, building a retail business) – I convey my appreciation to every team member who is working long and hard, with an eye for detail and depth in thinking and thereby making a difference to our Company. I value the critical analysis, constructive questioning and encouragement by our Non-executive Directors. Even in 2017, we will like to remind ourselves of 1947 – the birth year of our Company and the independence year of our country – so that we work with the same newness, optimism and purpose. I wish to assure you that team Atul will focus not on what our Company has been, but on what it can be. Once our recent investments deliver value, we will A tree gathers light and grows, and the more it grows, the more light it gathers to grow further. The same can be true for us - when we imbibe knowledge, we grow, and the more we grow, the more knowledge we imbibe to grow further. We also know that knowledge is incomplete unless accompanied by well- executed action and that action is imperfect without having in-depth knowledge. It is therefore our effort to be both, a learning and an action-oriented organisation - where we take high quality and high velocity decisions and actions. Atul office in Thane, built in addition to 2 offices in Mumbai, to increase productivity. like to see more bold moves ahead of us than behind us – there may be struggle, but we know that where there is life, there is struggle, and we are prepared for it. Sincerely, (Sunil Siddharth Lalbhai) Chairman and Managing Director