Atul Ltd 2019-20

19 To consider small work as less important and become careless towards it is defective vision. To consider small work as an element of the whole and become more careful towards it is true vision. What may be perceived as small is in fact the foundation of the whole and embedded within such approach is the training of life. It is our endeavour to have leaders with this belief across our Company for only true vision will build an everlasting entity. Multi-purpose hall, Atul Vidyalaya Duringthe fiscal, I hadan opportunity to interact withCHROs of two world-class companies– It not only significantlyenhanced my own learning, but it also made my colleagues and me improve existing | introduce new HR processes. We improved many role descriptions (to be fully completed in this quarter), conducted professional training on various types of dialogues and simplified the pefrormance management ysstem. Oneof the obligationsof the leadership teamyet to be fulfilledis to put in placethree layers of managementwithmembers who i) lead by self-management, ii) persevere with breadth (vision) as well as depth (eye for detail), iii) accept and encourage dissent, iv) build teams and leadership pipeline and v) work with a larger purpose.Suchteamswill be able to buildandsustainhigh standards of organisational culture required to withstand and overcome dif culties. My colleaguesand I are grateful to the Non-executive Directors for their deep involvement, valuable guidance and critical analysis. Given the statutory limit of 10 years for the term of an IndependentDirector, there will be a need to induct a few more Independent Dier ctors in due course of time to ensuer that the transition happens with continuity, although the current strength of six (IndependentDirectors) is sufficient compliance and considered adequate. With the lockdown and its consequences, 2020-21has begun quite differently thanwhatwe had anticipatedin the beginning of the fourth quarter of 2019-20 – demand is low for some of the products, the projects under implementationare delayed by about six months, etc. TeamAtul will overcomesuch short-term challenges. I look forward to your alignment as a s hareholder with the way forward and appreciate your consistent support. Although the pandemic may subside after some time, the significant economicdeclineworldwide it has causedmay not any time soon. We will persevere so that we do not downsize the destiny of our Company and that of our own in the long-term. In fact, we will build even more resilient businesses and communities wheer we operate. In our own small ways, we will continueto contributeto ourMotherlandandtheplanet. I am confident the best is yet to come . Sincerely, Sunil Siddharth Lalbhai Chairman and Man a ging Director www.youtube.com/watch?v=pfzzwgy-p7g www.atul.co.in/COVID-19/well-being/index.html#