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When the root is deep, there is no
need to fear the wind.
~ A Chinese Proverb
Contents
01
Looking back | 2015-16
02
Corporate identity
04
Serving diverse industries
05
Footprint
06
Purpose and Values
08
Letter to the Shareholders
10
Operational highlights
13
Recognition
14
Financial charts
18
Serving the society
20
Board of Directors
21
Directors’ Report
25
Annexure to the Directors’ Report
49
Management Discussion and Analysis
56
Corporate Governance
72
Notice
80
Performance trend
81
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 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 can 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.
We have depicted a leaf on the cover page for it is worthy of emulation:
as very aptly described by Mr Eric Drexler, a pioneer in Nanotechnology,
‘… a leaf is more sophisticated than a spacecraft, more finely patterned
than the latest chip from Silicon Valley ...’. A leaf signifies efficiency –
it does not require baking, grinding, stirring or human labour, but it
gathers solar energy and with that processes carbon dioxide and water
into oxygen and molecular building blocks; a leaf is eco-friendly – it does
not generate heat or toxic materials; and finally a leaf symbolises
interdependence — it does not exist in isolation, but instead
co-exists synergistically with the rest of the tree. In many
ways, a leaf emphasises the endeavour of the team Atul.