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The products falling under these product
groups are used by customers belonging to Aerospace,
Automobile, Composites, Construction, Defence, Electrical
and Electronics, Footwear, Paint and Coatings, Paper, Sport
and Leisure andWind Energy industries. The product groups
comprise about 96 synthetic products and 300 formulations.
B11, P62 and P101 are some of the key products. Synthetic
îŠē ljūƑŞƭŕîƥĚē ƎƑūēƭČƥƙ îƑĚ DŽĚƑƙîƥĿŕĚ îŠē ĺîƙ ƙĿijŠĿǛČîŠƥ
applications in Aerospace, Automobile, FRP Composites,
Wind Energy, Electrical and Electronics, Paint and Coatings,
Construction, Defence, Sport and Leisure and Paper
industries.
During 2018-19, sales increased by 22% from
`
858 cr to
`
1,048 cr. Sales in India increased by 23% from
`
580 cr to
`
711 cr; bulk sales in India increased by 22% from
`
487 cr
to
`
593 cr, whereas retail sales increased by 27% from
`
93 cr to
`
118 cr. Sales outside India increased by 21% from
`
278 cr to
`
337 cr and formed 32 % of the total. Growth on
account of volume was 5%.
¹ĺĚ DžūƑŕē ŞîƑŒĚƥ ljūƑ ĚƎūNJNj ƑĚƙĿŠƙ îŠē ČƭƑĿŠij îijĚŠƥƙ Ŀƙ
estimated at US$ 7.3 bn and is growing at about 2% and
Indian market is estimated at US$ 285 mn and is growing
at about 6%. There are about seven major companies which
dominate the world marketplace. The world market for
sulfones (curing agents) is estimated at US$ 367 mn and is
growing at about 5%.
Internal control systems of the Company are
commensuratewith the nature of its business
îŠē ƙĿǕĚ îŠē ČūŞƎŕĚNJĿƥNj ūlj Ŀƥƙ ūƎĚƑîƥĿūŠƙȦ ¹ĺĚ
controls, based on the prevailing business
conditions and processes, are tested during the year and no
reportable material weakness in the design or effectiveness
was observed.
The Company has an in-house Internal Audit department
ČūŠƙĿƙƥĿŠij ūlj ƎƑūljĚƙƙĿūŠîŕŕNj ƐƭîŕĿǛĚē ŞîŠîijĚƑƙȦ Tƥ ĺîƙ
The user industries, Construction, Defence, Electrical and
Electronics, Paint and Coatings are growing well particularly
in India. The Company will participate in this growth by
i) widening its market reach ii) increasing its manufacturing
îŠē DžūƑŒĿŠij ČîƎĿƥîŕ ĚljǛČĿĚŠČĿĚƙȡ ĿĿĿȴ ijĚŠĚƑîƥĿŠij îŠē îēēĿŠij
ŠĚDž ČîƎîČĿƥĿĚƙ ūlj ĚƎūNJNj ƑĚƙĿŠ îŠē ČƭƑĿŠij îijĚŠƥƙ ċNj ūƑijîŠĿČ
and inorganic mode.
Cheaper imports and new players in the market will keep
the market competitive and may keep the margins under
pressure. Since the two main raw materials, namely
ĿƙƎĺĚŠūŕȹ îŠē /ƎĿČĺŕūƑūĺNjēƑĿŠȡ îƑĚ ĿŞƎūƑƥĚēȡ ǜƭČƥƭîƥĿūŠƙ
ĿŠ ljūƑĚĿijŠ ĚNJČĺîŠijĚ ŞîNj ĿŞƎîČƥ ŞîƑijĿŠƙȦ
also
ĚŠijîijĚē ƥĺĚ ƙĚƑDŽĿČĚƙ ūlj ƑĚƎƭƥĚē ǛƑŞƙ ƙƎĚČĿîŕĿƙĿŠij
in Internal Audits. The Internal Audit function provides
assurance to the Audit Committee on the adequacy and
effectiveness of internal controls and compliance with
operating systems at all locations of the Company, its
subsidiary and joint venture companies. Internal audits are
also carried out for Atul Foundation and entities overseen by
ĿƥȦ ¹ĺĚ ūƎĚƑîƥĿŠij ĚljljĚČƥĿDŽĚŠĚƙƙ ūlj ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ
Ŀƙ îŕƙū ƥĚƙƥĚē ēƭƑĿŠij ČūƭƑƙĚ ūlj ĚîČĺ îƭēĿƥȦ eĚNj îƭēĿƥ ǛŠēĿŠijƙ
POLYMERS
Product groups: Epoxy Resins, Curing agents, Reactive diluents, Sulfones, Protective paints and Adhesives
based on Epoxy, Synthetic rubber, Polyurethane, Cyanoacrylate, PVC and PVA.
INTERNAL CONTROL SYSTEMS
Corporate Overview 01-22
Statutory Reports 23-105
Financial Statements 107-250
60
Atul Ltd | Annual Report 2018-19