Atul-2011-12

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Diamond on the cover page signifies our determination to endure
difficult situations, our desire to reach our full potential and our
dharma to create value for all our Stakeholders.With every passing
year, we will continually better our processes and portfolio of
products for success calls for a constant focus on
cherish our past, but our determination to pursue our dreams
remains strong at 60.
Diamond cannot be polished without
friction, nor man perfected without trials.
– Kong Qiu
Contents
02 | Corporate Identity 04 | Serving Diverse Industries
06 | Purpose and Values 08 | Milestones
12 | Letter to the Shareholders 14 | Operational Highlights
16 | Financial Charts 20 | Research
21 | Technology 22 | Safety, Health & Environment
24 | Serving the Society 27 | Directors’ Report
29 | Management Discussion & Analysis 36 | Report on Corporate Governance
50 | Notice 54 | Ten Year Review
55 | Financial Statements
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 and other statements - written and oral - that we
may periodically make are based on our have tried wherever possible to identify such statements by using words such
as ‘anticipate’,‘estimate’,‘intend’,‘plan’,‘project’ and words of similar substance in connection with any discussion of future
cannot guarantee that these forward looking statements will be realised although we believe we have been prudent in our assumptions.
The achievement of results is subject to uncertainties, risks and even inaccurate assumptions. If uncertainties or known or unknown risks
materialise or if underlying assumptions prove inaccurate, actual results can vary materially from those anticipated, estimated, intended,
planned or undertake no obligation to publicly update any forward looking statements, whether as a result of new
information, future events or otherwise.