Forward looking statements In this annual report, we have shared information and made forward looking statements to enable investors to know our product portfolio, business logic and direction and thereby comprehend our prospects. Such statements that we make are based on our assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘intend’, ‘plan’, ‘project’ or words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward looking statements will be realised although we believe we have been prudent in our assumptions. The actual results may be affected because of uncertainties, risks and even inaccurate assumptions. If uncertainties or known or unknown risks materialise or if underlying assumptions prove inaccurate, actual results may vary materially from those anticipated, believed, estimated, intended, planned or projected. We undertake no obligation to publicly update any forward looking statements, whether as a result of new information, future events or otherwise. The Members may send in their comments or suggestions for improvement of the annual report by e-mail to shareholders@atul.co.in In the middle of difficulty lies opportunity. -Albert Einstein The tree featured on the cover page of this report, commonly known as the coastal she-oak or saru (scientific name: Casuarina equisetifolia), is native to India (amongst other countries). It produces high-quality fuelwood and charcoal, is termite-resistant and highly durable, and is used as a supporting material in buildings. Additionally, it has a high carbon sequestration capacity. Atul draws inspiration from such wonders of nature. The unseen roots of the tree represent the firm foundation and enriching legacy of the Company, while the trunk signifies its perseverance to endure and withstand the test of time. The leaves and branches symbolise the aspiration of the Company to enhance its operations and to grow. The tree reaching towards the sky represents endeavour of the Company to excel, achieve new heights in the midst of competition Contents Board of Directors 01 Directors’ Report 05 Annexure to the Directors’ Report 11 Management Discussion and Analysis 23 Corporate Governance Report 31 Business Responsibility and Sustainability Report 52 Notice 89 Performance trend 103 Standalone Financial Statements Independent Auditor’s Report 105 Financial Statements 116 Consolidated Financial Statements Independent Auditor’s Report 184 Financial Statements 192 To download or read this report online, please visit www.atul.co.in 47th Annual General Meeting Friday, July 26, 2024 10:30 am The meeting will be held through video conferencing
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