1 Atul Foundation | Annual Report 2024-25 | 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 related to education, empowerment, health, relief, infrastructure and conservation. 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 the 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 Balwantrai Mazumdar, an economist and Siddharth Lalbhai, his elder son and a chemical engineer, to develop Atul, both of whom continued with the fine legacy. In 1978, Siddharth Lalbhai 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 initiatives undertaken by Atul. He personally oversaw these initiatives which were being implemented and took a keen interest in consistently improving their quality, variety and impact. Over the years, with an increase in the number and scope of various initiatives related to serving the society, Atul Foundation was established in 2010 as an umbrella trust of Atul. Siddharth Lalbhai (1923 - 1998) A chemical engineer and the elder son of the Founder, Siddharth Lalbhai dedicated his life to the development of Atul. He accorded equal value to creation of wealth and service to society. He upheld the principles of trusteeship, lived by the personal qualities of integrity, perseverance and simplicity and gave single-minded devotion to the tasks on hand. Balwantrai Mazumdar (1902 - 1981) An economist, 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 Kasturbhai Lalbhai. Kasturbhai Lalbhai (1894 - 1980) Kasturbhai Lalbhai was an institution builder par excellence. He made seminal contributions, particularly in the fields of industry, education, culture and religion. His pioneering efforts helped transform a colonised and impoverished India to a land of emerging hopes and opportunities. He led a purposeful life guided by integrity, discipline, excellence, perseverance and simplicity. Index Legacy Identity, Purpose and Values Chairperson’s foreword Organisation Footprint and outreach Our journey Institutions Impact assessment Sanjeevani 2024 Financial highlights Acknowledgements Make a difference 1 2 4 5 6 8 10 52 54 55 56 61 The cover page features a check dam renovated on the Parnera hillock in Atul village, designed to conserve soil and water during the monsoon season. The area transforms into a picturesque landscape, beautifully capturing the essence and serenity of nature during monsoon. These check dams are a part of the natural resource management initiative of Atul Foundation and reaffirm its commitment to environmental stewardship and sustainable development.
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