Company Overview Financial Statements Notice Statutory Reports 19 Rudolf Atul Chemicals Ltd | Annual Report 2019-20 The Indian Textile Chemicals industry is estimated at US $ 360 mn and is growing at about 6% CAGR. The size of the Textile industry in India is estimated at US$ 150 bn, out of which exports is about 25%. The uncertainties associated with the pandemic COVID-19 may have adverse impact on the demand and supply chain in the short-termand the Company is working to minimise the impact of such aberrations to sustain the operations and identify new opportunities to grow. Internal control systems Internal control systems of the Company are commensurate with the nature of its business and the size and complexity of its operations. These are routinely tested, certified and upgraded whenever required by the Statutory as well as the Internal Auditors covering all key areas of business. Significant audit observations and follow-up actions and recommendations thereon are reported to the Senior Management and the Audit Committee for their review. Human Resources The Company continued its drive to institutionalise and upgrade its HR processes, to help build a more robust workforce capable of managing dynamic and growing business needs. The process of identification and review of key initiatives has become stronger and is continuously upgraded. The requisite training was imparted during 2019-20. Employee relations remained cordial.
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