Atul Ltd 2020-21

Atul Foundation continued to support the community in its own small way. As an example, I have given a link (at the end of this letter) of the video clip of one of the initiatives called Ankur (which incidentally was well-received also by the Government of India). One more example I may share with you is that the cows valued at ` 66 lakhs given to 121 poor families have generated an income of ` 66 lakhs in one year for them giving a simple ‘payback’ of one year. I trust you also agree that a business that does not create value for those it touches is not long for this world. All this was and is possible because of team Atul (which consist of five nationalities). It is the responsibility of our Company and team Atul to enhance people processes (performance management, manpower planning, recruitment and training) as in it lies the essence of ultimate performance and governance of the business. Furthermore, how those in leadership positions behave, lead (themselves) and envisionwill determine the beliefs, character and dimensions of our Company. Such positions will therefore have to be held by people who provide exemplary self-leadership. The involvement, analysis, incisive questioning and encouragement, all based on long experience and wisdom of the Non-executive Directors is augmenting and refining the efforts of the Management to better the performance, and I value their association. Share prices are not about the past, but prediction of the future cash flows discounted back to the present, and your trust in and support to our Company as its shareholder that it can deliver long-term, place even more responsibility on the Management. Our Company purpose is timeless; the way to approach it will continuously evolve. The start of a new decade typically brings hope, but the external environment at this time, particularly in India, is blemished by the second ‘tsunami’ of the pandemic. Amid this disruption, it is easy to fall prey to pessimism, but team Atul will move ahead with hope and hard work. Our Company aims to reach new long-term milestones in 2021-22, pushing its boundaries to become better and more prepared, as it completes 70 years of operations on March 17, 2022, not settling for where it is, but where it ought to be – for this, I am optimistic. The best is yet to come. Sincerely, Sunil Siddharth Lalbhai Chairman and Manging Director https://youtu.be/WDhe202OKyU Our potential is developed and nurtured; it is not granted or predetermined. We can change our mindset. This is by realising that we are imperfect, but we can learn and get better and that we can close the gap between our espoused mindset and the lived experience. It is our endeavour to develop leadership at various levels in our Company with this firm belief so that we can empower every person we connect. Atul Complex gate 01 | Parnera hillock, Atul village 19 Corporate Overview 01 - 21 Statutory Report 22 - 87 Financial Statements 88 - 229