The logo of Atul Foundation Trust (Atul Foundation) is a representation of the tree of life. The tree symbolises the interconnection and metaphorical co-dependence of all aspects of life. It endeavours to convey that we do not exist for our own narrow objectives, but are part of an integrated ecosystem. We will make our own journey of life more meaningful if our way of living reflects a larger purpose. The cover page is a photograph of the students of a prathmik shala in Parnera (Gujarat). Atul Foundation has been distributing study material to students of this school every year, for about 15 years, as part of its endeavour to facilitate learning, development and self-reliance. Legacy 01 Identity 03 Purpose and Values 03 Chairperson's foreword 04 Organisation and Infrastructure 05 Institutions 06 Coverage 09 The future of India lies in its villages. ~ Mahatma Gandhi Contents Introduction to the Programs 10 Operational highlights 11 Touching lives 19 Financial highlights 21 Auditors' Report 22 Acknowledgements 28 Make a difference 30
Legacy Much before the concept of Corporate Social Responsibility had evolved into its present form, Atul Ltd (Atul) has been engaged in serving the society with diverse initiatives in the fields of education, health and infrastructure. Mr Kasturbhai Lalbhai, the Founder of Atul and an Indian legend, ensured complete commitment to community development and welfare in every company he established. The primary reason for the establishment of Atul was to generate large scale employment and consequently improve standard of living in rural India. His passion to give back to the society was reflected in his daily schedule; he spent half a day on growing businesses while the other half was dedicated solely to social service. He appointed Mr Balwantrai Mazumdar, an economist and Mr Siddharth Kasturbhai, his elder son and a chemical engineer, to develop Atul, both of whom continued with the fine legacy. In 1978, Mr Siddharth Kasturbhai laid the foundation of Atul Rural Development Fund in an endeavour to further the rich legacy of his father and bring focus to rural development projects undertaken by Atul. He personally oversaw each project which was being implemented and took keen interest in consistently improving the quality, variety and impact of such projects. Over the years, with an increase in the number and the scope of projects related to serving the society, Atul Foundation was established in 2011 as an umbrella Trust of Atul conglomerate. 01
Mr Siddharth Kasturbhai (1923 - 1998) A chemical engineer, Mr Siddharth Kasturbhai dedicated his life towards the development of Atul conglomerate, according equal value to the creation of wealth and service to the society. The principles he upheld of trusteeship in governance, the personal qualities he lived by, of integrity, perseverance, low profile and simplicity and the single-minded devotion he gave to the tasks on hand will remain a guiding force. Mr Balwantrai Mazumdar (1902 - 1981) An economist, Mr Balwantrai Mazumdar was a voracious reader, sound thinker, patient listener and a farsighted professional. He created an atmosphere of camaraderie that brought out the collective best in the people of Atul. He was the moving force behind making the first site of Atul one of the largest eco-friendly manufacturing facilities of its kind in the world. He remained with the Group till the end of his life as did most of the people who worked with Mr Kasturbhai Lalbhai. Mr Kasturbhai Lalbhai (1894 - 1980) The legacy of Mr Kasturbhai Lalbhai has been synonymous with 3 terms in the broadest sense: excellence, perseverance and trusteeship. Social responsibility must include sympathy, helpfulness and willingness to forego self interest in order to promote the welfare, happiness and contentment of others and of the country as a whole. ~ Kasturbhai Lalbhai Annual Report 2016-17 | Atul Foundation
Identity Atul Foundation was established by Atul on November 25, 2010. The Foundation is registered as a public charitable trust under The Bombay Public Trusts Act, 1950 (now, Gujarat Public Trusts Act, 2011). Atul Foundation is an embodiment of the Purpose and Values of Atul towards serving the society. Purpose Atul Foundation is committed to fostering sustainable socio-economic upliftment, particularly in the lives of the underprivileged through relevant Programs | projects. Values Empathy Perceive, relate and respond to the difficulties, emotions and needs of others Benevolence Help the needy without any discrimination, selflessly and humbly Collaboration Work as a team and develop meaningful partnerships to serve others Quality Conceive and execute projects to provide exemplary deliverables Honesty Reflect uprightness and transparency in every action Corporate Social Responsibility Policy of Atul: Atul will help enhance the quality of life of the people belonging to the marginalised sections of the society and volunteer its resources to the extent it can reasonably afford to Atul Foundation (Trust) and (or) other entities under its umbrella. The Foundation will particularly undertake projects in and around the locations where the Company operates. CSR Committee of Atul: Mr Hasmukh Shah (Chairman) Mr Sunil Lalbhai Mr Bharathy Mohanan 03
Chairperson's foreword Dear Members, It is my privilege to present to you the 2016-17 Annual Report of Atul Foundation, further enhancing the contents and structure of the report in step with our yearning to consistently improve all that we undertake. In the 7 decades since its inception, Atul Ltd (Atul) has been serving the society keeping in focus national priorities. Through its Programs, Education, Empowerment, Health, Relief, Infrastructure and Conservation, the Company has touched lives of about 1,25,000 lower income group people. The institutions promoted by Atul are considered amongst the best in terms of their quality of infrastructure and service. Atul Foundation – which oversees all the trusts - is carrying forward this legacy. During 2016-17, as a commitment to Swachh Bharat Abhiyan, Atul Foundation constructed 1,350 more individual household toilets in 15 villages of Valsad district; in the process, it was able to help 4 villages become free of open defecation. The commitment of the Foundation to less cash economy was recognised by the Honourable Prime Minister of India, Mr Narendra Modi, when he declared Atul amongst the first cashless townships of the country on April 14, 2017. The Foundation undertook several other projects | initiatives during 2016-17 to uplift the lives of the disadvantaged, marginalised and vulnerable which, amongst others, comprised establishing a library in a village school, renovating a school, extending support - monetary (tuition fees, etc) and non-monetary (notebooks, etc), imparting vocational training to women (beauty and styling, data entry, garment making, etc), constructing roads, planting saplings and providing medical help. In an effort to also serve people in other states, the Foundation increased its footprint in 2 more states – Jharkhand and Uttar Pradesh. In Jharkhand, it partnered with Udyogini to provide improved child care to 5,043 children through 220 crèches while in Uttar Pradesh, it supported Guria Swayam Sevi Sansthan which is actively involved in preventing women and child abuse. The scope of such work is infinite, and Atul Foundation will continue with many such projects | initiatives during 2017-18. One of the bigger projects is the establishment of Atul Medical Diagnostic and Research Centre to provide quality medical services to the local population including those who are otherwise unable to afford such services. The Foundation will collaborate with the State Governments and NGOs for serving the society particularly in the areas of education and health. I thank the Government of Gujarat and all the donors for their support to Atul Foundation. 21.90% of Indians live below the poverty line, and I look forward to working with you to do everything we can to make a difference to their lives. With best wishes, Sincerely, (Vimla Lalbhai) Chairperson Annual Report 2016-17 | Atul Foundation
Organisation and Infrastructure The Management Committee of Atul Foundation works under the overall direction and guidance of the Board of Trustees. The Foundation is supported by teams required for operations and projects. The impact made by Atul Foundation is generally reviewed by the Management (quarterly), Corporate Social Responsibility Committee (half yearly) and the Board (yearly) of Atul. Established in 1978, Atul Rural Development Fund is the primary implementing agency for Atul Foundation. One of the first offices of Atul now houses the Serving Centre 05
Institutions At this time, Atul Foundation is serving the society through the following institutions: Kalyani Shala Established in: 1953 Managed by: Atul Kelavni Mandal About: Kalyani Shala is a private aided school providing quality and affordable education to children belonging to Atul and surrounding villages. It offers classes from kindergarten to 12th, and the medium of instruction is Gujarati. At present, it has 1,750 students. Ulhas Established in: 1961 Managed by: Atul Foundation About: Ulhas is an organisation established to promote health and well-being of residents of Atul and surrounding villages. It organises cricket tournaments, inter-village volleyball competitions and marathons. Urmi Stree Sanstha Established in: 1953 Managed by: Atul Foundation About: Urmi Stree Sanstha is a social organisation created for women empowerment. It is primarily known for production and supply of pure and traditionally prepared spices. Women from nearby villages are engaged in drying, pounding, blending and packaging of spices. Annual Report 2016-17 | Atul Foundation
Atul Club Established in: 1995 Managed by: Atul Club Trust About: Atul Club is an organisation providing quality sport and recreational facilities to residents of Atul and surrounding towns | villages. It offers facilities for badminton, billiards, squash, swimming, table-tennis and tennis and also has a well-equipped gymnasium. Atul Vidyalaya Established in: 1991 Managed by: Atul Vidyalaya Trust About: Atul Vidyalaya is a private unaided school providing quality education to children belonging to Atul and surrounding towns | villages. It offers classes from kindergarten to 12th, and the medium of instruction is English. At present, it has 1,197 students. Utkarsha Established in: 1965 Managed by: Atul Foundation About: Utkarsha is an organisation created as a platform to promote social and cultural programs for residents of Atul and surrounding villages. It organises music and dance competitions, annual funfairs and cultural events. 07
Industrial Training Institutes (Khergam and Sagbara) Adopted in: 2011 Managed by: Atul Ltd About: The Industrial Training Institutes (ITIs), both in Khergam and Sagbara, operateunder thepublic privatepartnership model with the Government of Gujarat. The ITIs offer courses for a duration of 1 to 2 years in a range of vocations, particularly to tribal students. Atul Institute of Vocational Excellence Established in: 2011 Managed by: Atul Rural Development Fund About: Atul Institute of Vocational Excellence is a vocational training centre that operates under the public private partnership model with the Government of Gujarat. It imparts skills to tribal boys and girls in various vocations and also provides them with employment opportunities. It endeavours to skill 7,600 tribal students over a time span of 7 years. Atul Vidyamandir Adopted in: 2009 Managed by: Atul Vidyalaya Trust About: Atul Vidyamandir is an adopted Eklavya model residential school that operates under the public private partnership model with the Government of Gujarat. It caters only to tribal students and also provides them with residential facilities. It offers classes from 6th to 10th, and the medium of instruction is Gujarati. At present, it has 305 students. Annual Report 2016-17 | Atul Foundation
Coverage Atul Foundation predominantly works in and around the locations where Atul has its operations and offices though it is gradually widening its coverage in other parts of India. During 2016-17, the Foundation has undertaken | supported projects in Gujarat, Jharkhand, Rajasthan and Uttar Pradesh. The map below indicates the locations where Atul has undertaken | supported projects (in Valsad district) to serve the society during its journey of 6 decades. 09
Introduction to the Programs The most persistent question in life is, ‘What are you doing for others?’ ~ Martin Luther King, Jr Atul Foundation undertakes projects under 6 Programs: Education Provide easy and affordable education to children belonging to all sections of the society Empowerment Impart vocational skills particularly to the underprivileged population so that they can be self-employed or obtain employment of their choice Health Make available quality and affordable healthcare facilities to all Relief Offer quick support to victims of calamities, natural or man-made Infrastructure Provide residents of surrounding villages with adequate livelihood facilities Conservation Promote the judicious use of natural resources and preserve ecology In India... Poverty ratio at national poverty line: 21.90%1 Adult (15+ years of age) illiteracy rate: 30.70%1 Youth (15-24 years of age) illiteracy rate: 13.86%1 Infant mortality rate (per 1,000 live births): 37.902 Life expectancy at birth: 68.35 years2 Unimproved sanitation: 60.40%2 Source: 1 World Bank (data as of 2011) 2 World Bank (data as of 2015) Annual Report 2016-17 | Atul Foundation
Operational highlights During 2016-17, Atul Foundation undertook the following projects: Education No Project Location Implementing agency Impact 1 Infrastructure in Kalyani Shala Atul (Gujarat) Atul Kelavni Mandal 1,750 students provided with better infrastructure facility 2 Books on Indian culture Jaipur (Rajasthan) Atul Foundation Documentation and promotion of traditional knowledge and culture 3 Food in an Ashramshala Pardi (Gujarat) Shree Vallabh Seva Kendra 185 children provided with wholesome food 4 Books to school libraries Valsad (Gujarat) Atul Foundation 2,220 books distributed in 30 school libraries 5 Rural education 13 villages (Gujarat) Atul Rural Development Fund • 2,735 students in 23 primary schools provided with study material • 87 students in an Ashramshala provided with wholesome food • 55 students participated in vacation hobby camps • 270 students benefited through establishment of a school library Classroom activities in Atul Vidyamandir 11
Empowerment No Project (Partner, if any) Location Implementing agency Impact 1 Skill development (Development Support Agency, Government of Gujarat) Ozarpada (Gujarat) Atul Rural Development Fund (ARDF) • 609 students trained to use industrial sewing machines • 150 students trained as account assistants using Tally • 131 students trained to repair computers • 83 students trained as chemical plant process attendants • 83 students trained as bedside assistants • 59 students trained as electricians • 40 students trained as welders • 40 students trained to repair mobile phones • 30 students trained in housekeeping 2 Computer and English language skills (District Science Centre, Dharampur) Atul and Dharampur (Gujarat) ARDF • 177 students trained in basic computer skills • 179 students trained in English 3 Adhyapika: Training to become teachers1 Dharampur (Gujarat) ARDF 21 girls being trained as elementary school teachers 4 Women empowerment 5 villages (Gujarat) ARDF • 65 women trained in garment making • 50 women trained in handicraft and soft toy making • 85 women trained in beauty and styling • 36 women trained in food and nutrition 1 Under implementation Annual Report 2016-17 | Atul Foundation
Health No Project (Partner, if any) Location Implementing agency Impact 1 Individual household toilets 15 villages (Gujarat) Atul Rural Development Fund (ARDF) 2,092 families benefited with individual household toilets 2 Rural health (Valsad Raktdan Kendra; RNC Free Eye Hospital; Valsad Eye Care Hospital and Zenith Doctor House) 24 villages (Gujarat) ARDF • 2,203 units of blood collected through 22 camps • 3,103 eye patients identified, 2,551 of them provided with spectacles, 282 identified with cataract of which 129 were operated for cataract through 10 eye camps • 104 patients suffering from different ailments identified and treated 3 Medical diagnostic facility1 Atul (Gujarat) ARDF Access to advanced medical facilities to the population around Atul 1 Under implementation Individual household toilet in Atul 13
Relief No Project Location Implementing agency Impact 1 Advanced treatment of cancer patients Karamsad and Goraj (Gujarat) Charutar Arogya Mandal and Muni Seva Ashram 33 cancer patients provided with advanced medical treatment 2 Blood units to thalassemia patients Valsad (Gujarat) Atul Rural Development Fund (ARDF) 63 thalassemia patients provided with 530 units of blood 3 Relief to flood victims Valsad (Gujarat) ARDF • 100 families provided with relief material • 4 houses repaired 4 Community marriages Valsad (Gujarat) Valsad Taluka Patel Samaj Pragati Mandal 115 marriages of underprivileged couples facilitated 5 Farm kits and fertilisers to farmers Haria (Gujarat) ARDF 40 farmers provided with farm kits free of cost and fertilisers at subsidised rates Nutrition supplements to children in Ranchi Annual Report 2016-17 | Atul Foundation
No Project Location Implementing agency Impact 6 Rural child day care centres (crèches) Ranchi (Jharkhand) Udyogini • 5,043 children in 220 crèches provided with safe and improved learning environment • Enabled women to enhance their income by building microenterprises • Reduced girl child school dropout rate significantly • Provided supplementary meals to children to bridge nutritional gap 7 Prevent exploitation of women Varanasi (Uttar Pradesh) Guria Swayam Sevi Sansthan • Carried out rescue operations • Provided free of cost legal help • Rehabilitated victims of trafficking 8 Free ambulance facility Chanvai (Gujarat) Shri Sainath Seva Bhavi Mandal • Provided free ambulance facility to poor patients • Provided free transport for carrying mortal remains Children in a crèche in Ranchi 15
Atul Institute of Vocational Excellence
Infrastructure No Project Location Implementing agency Impact 1 Open shed in a prathmik shala Andada (Gujarat) Atul Foundation 812 students benefited by construction of an open shed that serves as a prayer cum dining area 2 Rural infrastructure 5 villages (Gujarat) Atul Rural Development Fund • 800 villagers benefited by upgradation of infrastructure at a community hall • 1,400 villagers benefited by installation of street dustbins • 1,200 villagers benefited by installation of street lights Conservation No Project Location Implementing agency Impact 1 Afforestation Atul (Gujarat) Atul Ltd Planted 53,000 trees Green cover in Atul Annual Report 2016-17 | Atul Foundation
Touching lives Education Pooja* hails from Kachigam (Gujarat). Having lost her mother at the tender age of 6, she had a testing childhood. She feared her step mother and struggled to sustain herself in an atmosphere that was devoid of love and care. In class 6, Pooja joined Atul Vidyamandir, a residential school for tribal students. The nurturing environment of the school helped her find solace, love and encouragement. Being in the midst of students from similar backgrounds made her feel that she at last had a family that she always yearned for. She has grown very fond of the school and often wishes to stay back, even during vacations. Now in class 10, Pooja is working hard to perform well in her exams and then pursue her further studies. Empowerment Jiten* is a resident of Pankala (Gujarat). The untimely death of his mother, ill temper of his father and financial adversities made life challenging for him. He ran away from home and started working as a daily wage worker. Finding it difficult to sustain himself, he started living with his grandparents and took up part time jobs like carpentry, diamond polishing and office errands. With meagre earnings, life seemed to be an unending struggle. In 2014, Jiten heard about Atul Institute of Vocational Excellence, a centre for skill development, particularly for tribal students. He decided to explore the opportunity with a firm resolve to work hard and make the most of it. For 3 months, he was trained in industrial sewing and was then placed in a reputed garment company through a campus interview. Earning ` 10,000 a month, Jiten is now living a life of his dreams. Atul Foundation endeavours to empower the tribal youth by imparting skills and in turn generating employment opportunities. Health Nanubhai from Haria (Gujarat) has a 35 year old ailing sister. Having undergone a brain surgery, his sister often has spells of dizziness and loses her balance. It was challenging for her to walk long distances to relieve herself and she required someone to accompany her, particularly at night and during monsoon. In an endeavour to prevent open defecation, Atul Foundation constructed an individual household toilet for Nanubhai and his family. With this facility, he is now at ease especially when his sister is alone at home. 19
Relief 11 year old Dhruv Galvi belongs to Panas (Gujarat). He was diagnosed with thalassemia major, 6 months after birth. His mother is well educated. However, she does not work and stays at home to look after him. At times, she lends a hand to her husband in farming. His father works as an accountant and earns a relatively low salary of ` 4,000 per month. It was challenging for the family to commute 60 km to Valsad Raktdan Kendra every 15 days for blood transfusion. So far, he has been infused with 350 blood units. Atul Foundation organises collaborative blood camps and supports free blood transfusion to thalassemia patients, in an endeavour to help families like that of Dhruv. Sona* is a 16 year old girl from Jorukhand (Uttar Pradesh). She belongs to a tribal family making their living by collecting leaves from the forest and selling them. She was enticed and trafficked by the accused on the pretext of a good job opportunity in a different town. Few days later, he sold her to a brothel where she was forced into prostitution and on her refusal, she was physically and mentally tortured by the brothel-keeper and landlord. 5 more girls, also trafficked, were forced into prostitution at the same brothel. When Sona’s parents learned about the miserable condition of their daughter, they approached Guria, a non-profit organisation dedicated to fighting child prostitution and trafficking in north India. Staff from the organisation managed to rescue all the 6 minor girls. 2 brothel-keepers were arrested. The accused are now under trial and tireless efforts are being made to ensure that all the girls get justice. Sona is glad to be back home with her family. Atul Foundation is pleased to be associated with such an organisation to prevent exploitation of women. * Names changed Annual Report 2016-17 | Atul Foundation
Financial highlights 21
Auditors’ Report Under Sub-section (2) of Section 33 and 34, and Rule 19 of the Bombay Public Trusts Act, 1950 (Gujarat Rules) Registration number: E | 677 | Valsad district Name of the public trust: Atul Rural Development Fund For the year ending: March 31, 2017 We have examined the Financial Statements of Atul Rural Development Fund for the year ending March 31, 2017 and to the best of our knowledge and belief and according to the information and explanations provided to us, we report as under: a) Whether accounts are maintained regularly and in accordance with the provisions of the Act and the rules? Yes b) Whether receipts and disbursements are properly and correctly shown in the accounts? Yes c) Whether the cash balance and vouchers in the custody of the Manager or a Trustee on the date of audit were in agreement with the accounts? Yes d) Whether all books, deeds, accounts, vouchers, other documents or records required by the Auditor were produced before him? Yes e) Whether a register of movable and immovable properties is properly maintained, the changes therein are communicated from time to time to the regional office and the defects and inaccuracies mentioned in the previous Audit Reports have been duly complied with? Yes f) Whether the Manager or a Trustee or any other person required by the Audit to appear before him did so and furnished the necessary information required by him? Yes g) Whether any property or funds of the Trust were applied for any object or purpose other than the object or purpose of the Trust? No h) Amount of outstanding for more than 1 year and the amount written off, if any Nil i) Whether tenders were invited for repairs or construction involving expenditure exceeding ` 5,000? Yes j) Whether any money of the Trust has been invested contrary to the provisions of Section 35? No k) Whether alienations, if any, of the immovable property contrary to the provisions of Section 36 have come to the notice of the Auditor? No l) Whether there is any special matter which the Auditor may think fit or necessary to bring to the notice of the Deputy or Assistant Charity Commissioner? No For B R Shah & Associates Chartered Accountants Firm Registration Number: 129053W Deval Desai Ahmedabad Partner July 24, 2017 Membership Number: 132426 Annual Report 2016-17 | Atul Foundation
Form number 10B [See rule 17B] Audit Report under Section 12A (b) of the Income-tax Act, 1961, in the case of charitable or religious trusts or institutions. We have examined the Balance Sheet of Atul Rural Development Fund, AAATA3404E, as at March 31, 2017 and the Income and Expenditure Account for the period ended on that date which are in agreement with the books of accounts maintained by the said Trust. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of the audit. In our opinion, proper books of accounts have been kept by the Trust so far as it appears from our examination of the books and proper returns adequate for the purpose of audit have been received by us. In our opinion and to the best of our information and according to the information given to us, the said accounts give a true and fair view: a) In case of the Balance Sheet, of the state of affairs of the above named Trust as at March 31, 2017 b) In case of the Income and Expenditure Statement, of the surplus of its accounting year ending on March 31, 2017 The prescribed particulars are annexed hereto. For B R Shah & Associates Chartered Accountants Firm Registration Number: 129053W Deval Desai Ahmedabad Partner July 24, 2017 Membership Number: 132426 23
Annexure Statement of particulars 1. Application of income for charitable or religious purposes a) Amount of income of the previous year applied to charitable or religious purpose in India during that year ` 3,48,80,558 b) Whether the Trust has exercised the option under Clause (2) of the explanation to Section 11 (1)? If so, the details of the amount of income deemed to have been applied to charitable or religious purpose in India during the previous year ` 1,10,00,000 c) Amount of income accumulated or set apart | finally set apart for application to charitable or religious purposes, to the extent it does not exceed 15% of the income derived from property held under the Trust wholly | in part only for such purpose ` 74,77,283 d) Amount of income eligible for exemption under Section 11 (1) (c) Nil e) Amount of income, in addition to the amount referred to in item 3 c) above, accumulated or set apart for a specified purpose under Section 11 (2) Nil f) Whether the amount of income, mentioned in item e) above has been invested or deposited in the manner laid down in Section 11 (2) (b)? No g) Whether any part of the income in respect of which an option was exercised under Clause (2) of the exemption to Section 11 (I) in any earlier year is deemed to be income of the previous year under Section 11 (1B)? No h) Whether, during the previous year, any part of income accumulated or set apart for specified purposes under Section 11 (2) in any earlier year: No i) has been applied for purposes other than charitable or religious purposes or has ceased to be accumulated or set apart for application thereto, or No ii) has ceased to remain invested in any security referred to in Section 11 (2) (b) (i) or deposited in any account referred to in Section 11 (2) (b) (ii) or Section 11 (2) (b) (iii), or No iii) has ceased to remain invested in any security referred to in Section 11 (2) (b) (i) or deposited in any account referred to in Section 11 (2) (b) (ii) or Section 11 (2) (b) (iii) No 2. Application or use of income or property for the benefit of persons referred to in section 13 (3) a) Whether any part of the income or property of the Trust was lent, or continues to be lent, in the previous year to any person referred to in Section 13 (3) (hereinafter referred to in this Annexure as such person)? No b) Whether any land, building or other property of the Trust was made, or continued to be made, available for the use of any such person during the previous year? No c) Whether any payment was made to any such person during the previous year by way of salary, allowance or otherwise? No d) Whether the services of the Trust were made available to any such person during the previous year? Nil Annual Report 2016-17 | Atul Foundation
e) Whether any share, security or other property was purchased by or on behalf of the Trust during the previous year from any such person? Nil f) Whether any share, security or other property was sold by or on behalf of the Trust during the previous year to any such person? No g) Whether any income or property of the Trust was diverted during the previous year in favour of any such person? No h) Whether the income or property of the Trust was used or applied during the previous year for the benefit of any such person in any other manner? No 3. Investments held at any time during the previous year(s) in concerns in which persons referred to in Section 13(3) have a substantial interest No. Name and address of the concern Where the concern is a company, number and class of shares held Nominal value of the investment Income from the investment Whether the amount in column 4 exceeded 5% of the capital of the concern during the previous year 1 2 3 4 5 6 Not applicable The Annexure has been prepared by Trustees of the Trust, the particulars of which are broadly verified by us in light of the information. For B R Shah & Associates Chartered Accountants Firm Registration Number: 129053W Deval Desai Ahmedabad Partner July 24, 2017 Membership Number: 132426 25
Balance Sheet (ARDF) as at March 31, 2017 (` lakhs) Fund and Liabilities 2016-17 2015-16 Trust fund 26.90 26.90 Reserves and surplus 85.52 52.02 Designated fund 757.88 424.84 Current liabilities and provisions 49.93 49.12 920.23 552.88 (` lakhs) Property and Assets 2016-17 2015-16 Fixed assets 14.72 10.63 Investments 92.69 136.03 Current assets, loans and advances 812.82 406.22 920.23 552.88 As per our attached Report of even date For and on behalf of the Board of Trustees B R Shah & Associates Chartered Accountants Firm Registration Number: 129053W For Atul Rural Development Fund Vimla Lalbhai Mriganka Dutta Chairperson Managing Trustee Deval Desai Partner Atul Membership Number: 132426 July 24, 2017 Ahmedabad July 24, 2017 Annual Report 2016-17 | Atul Foundation
Income and Expenditure Statement (ARDF) for the year ended March 31, 2017 (` lakhs) Expenditure 2016-17 2015-16 Administrative expenses 13.90 15.85 Depreciation 0.82 1.10 Expenditure on objects of the Trust a) Infrastructure 10.81 6.93 b) Education and Empowerment 178.23 144.15 c) Health 6.79 7.30 d) Relief 7.34 6.89 Surplus carried over to Balance Sheet 33.50 18.86 251.39 201.08 (` lakhs) Income 2016-17 2015-16 Donations 50.02 45.00 Government grants 157.21 127.24 Interest 37.15 24.50 Other income 7.01 4.34 251.39 201.08 As per our attached Report of even date For and on behalf of the Board of Trustees B R Shah & Associates Chartered Accountants Firm Registration Number: 129053W For Atul Rural Development Fund Vimla Lalbhai Mriganka Dutta Chairperson Managing Trustee Deval Desai Partner Atul Membership Number: 132426 July 24, 2017 Ahmedabad July 24, 2017 27
Acknowledgements No one can do everything, but everyone can do something. ~ Max Lucado Atul Foundation and its affiliates are grateful to the central and State Governments, companies, foundations, trusts and individuals with whose cooperation and support, it was able to extend its social outreach. Government of India Community Food and Nutrition Extension Unit District Science Centre Government of Gujarat Development Support Agency Foundations, trusts and other entities Adijan Asmita Foundation Atul Ladies Club Eklavya Adivasi Baal Vikas Shikshan Sewa Trust Gujarat Badminton Association Gujarat CSR Authority Kalyani Shala (student batch of 1981) Manav Arogya Sewa Kendra Riddhi Siddhi ENT Nursing Home RNC Free Eye Hospital Smt Godaveridevi Gupta Seva Kosh Valsad Eye Care Hospital Urmi Stree Sanstha Valsad Raktdan Kendra Companies and firms Atul Bioscience Ltd Atul Ltd Desai Construction Pvt Ltd Hubergroup India Pvt Ltd Reliance Industries Ltd Rudolf Atul Chemicals Ltd Western Consolidated Pvt Ltd Annual Report 2016-17 | Atul Foundation
Individuals Mr Satya Agrawal Mr Deepak Ahuja Mr Shyamal Bhattacharya Mr Debasish Chakraborty Mr Awakash Chaubey Mr Dhaval Chavda Mr Syamalkumar De Ms Kirtida Desai Ms Pramila Desai Ms Sharda Desai Mr Urmil Desai Mr Khem Chand Dhingra Ms Savita Dhingra Mr Vineet Dhingra Mr Rakesh Dubey Mr Mriganka Dutta Ms Ena Gauba Mr Manish Gupta Mr Basant Joshi Mr Sunil Joshi Mr Sunil Koul Mr Ram Kumar Mr Bharat Malde Mr Pavan Mehta Mr Murtuza Merchant Mr Anant Pande Mr Ashutosh Pandey Mr Mayank Pandey Ms Mina Pandya Mr Sarosh Patel Mr Shyamal Roy Mr Hetal Ruparelia Ms Swarla Setalwad Ms Neela Shah Mr Dilip Kumar Singh Mr Gopi Kannan Thirukonda Mr Sharat Tripathi Dr Rana Vishnoi Mr Ramashankar Yadav Mr Vinod Yadav 29
Make a difference Even though India is amongst the fastest growing economies in the world, there is a large scope for improving the standard of living of a large section of its citizens. Even today, our country is home to about 25% of underfed population of the world; about 36% of its rural population continues to remain illiterate and about 7% of such population is still living in 'extreme poverty'. It is a call of our times to engage in our own small way to serve our motherland. Ever since inception, Atul Ltd is conducting its business in an inclusive way. Atul Rural Development Fund (ARDF) is working to achieve sustainable development, particularly in the rural areas and help uplift the lives of the underprivileged. ARDF (2016-17 project spend: ` 497.15 lakhs, administration cost: ` 13.90 lakhs) provides a complete account of the funds received for various projects and sends its Annual Report to every donor. If you wish to join in our endeavour of enhancing the standard of living of the less fortunate and are looking for an organisation that will channelise and direct 100% of your contribution to projects at hand, ARDF may be a good option. Given below are some of the projects ARDF is currently implementing. If you wish to sponsor any project(s), please fill this form and send it to Dr Rana Vishnoi, Managing Trustee, ARDF, Atul 396 020, Gujarat, India (E-mail address: rana_vishnoi@atul.co.in). Contributions or donations to Atul Rural Development Fund for rural development | skill development projects qualify for 100% tax exemption under Section 35 AC | 80 GGA. 1. I wish to sponsor study material for students for 1 year: Students (Number) Amount (`) Please tick your choice 30 15,000 60 30,000 90 45,000 Other, _____ ____(@ ` 500 per student) 2. I wish to sponsor course(s) for women empowerment: Course(s) (Number) Amount (`) Please tick your choice 1 30,000 2 60,000 3 90,000 Other, _____ ____(@ ` 30,000 per course) 3. I wish to sponsor food for tribal children for 1 month: Tribal children (Number) Amount (`) Please tick your choice 30 50,000 60 1,00,000 90 1,50,000 Other, _____ ____(@ ` 1,700 per child) Annual Report 2016-17 | Atul Foundation
4. I wish to sponsor health (general health | blood donation) camp(s): Camp(s) (Number) Amount (`) Please tick your choice 1 50,000 2 1,00,000 3 1,50,000 Other, _____ _____(@ ` 50,000 per camp) 5. I wish to construct amenity blocks in a village: Amenity block(s) (Number) Amount (`) Please tick your choice 30 5,00,000 60 10,00,000 90 15,00,000 Other, _____ _____(@ ` 16,800 per amenity block) 6. I wish to donate ` _______ towards the corpus of Atul Rural Development Fund. My contact details are given below: Name:_______________________________ Home | Office address: _____________________ _________________________________________________________________________________ E-mail address:_____________________________ Mobile telephone: ____________________ The donation amount may be remitted, along with the requisite information with respect to how you wish to participate (project, corpus, etc), by drawing a cheque in favour of Atul Rural Development Fund and sending it to Dr Rana Vishnoi or through RTGS as per the details given below: Beneficiary: Atul Rural Development Fund Bank: State Bank of India Branch: Atul Account number: 10259739167 IFS code: SBIN0001657 31
Notes Annual Report 2016-17 | Atul Foundation
Trust information Trustees Background Dr Vimla Lalbhai (Chairperson) FRCS - Royal College of Surgeons (London) Social worker Dr Rana Vishnoi (Managing Trustee) PhD - Indian Institute of Technology (Mumbai) Former Managing Director, Amal Ltd Mr Sharat Tripathi B Tech - Indian Institute of Technology (Kanpur) President - Human Resources, Atul Ltd Mr Bharat Trivedi B Tech - Indian Institute of Technology (Mumbai) Former President - Information Technology, Atul Ltd Ms Swati Lalbhai ACA - Institute of Chartered Accountants of India Managing Director, Aagam Holdings Ltd Statutory Auditors B R Shah & Associates Registered office Atul Rural Development Fund Atul 396 020, Gujarat India E-mail address: contact@atulfoundation.in Bankers Axis Bank RBL Bank
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