The logo of Amal Ltd is a diya whose constituents are an earthen pot, ghee, a wick and a flame. Our actions (symbolised by ghee) will remain within the boundary of ethics (symbolised by the earthen pot) and we will through hard work (symbolised by the wick) achieve our purpose (symbolised by the flame). Contents I never lose. I either win or learn. ~ Nelson Mandela 1 Corporate profile 50 Notice 2 Purpose 64 Standalone performance trend 3 Values Standalone Financial Statements 4 Board of Directors 66 Independent Auditor’s Report 6 Letter to the shareholders 78 Financial Statements 7 Directors’ Report Consolidated Financial Statements 14 Annexure to the Directors’ Report 131 Independent Auditor’s Report 27 Management Discussion and Analysis 140 Financial Statements 28 Corporate Governance Report Forward-looking statements In this report, we have shared information and made forward-looking statements to enable investors to know the product portfolio, business logic of our Company and thereby comprehend its prospects. These include all statements other than statements of historical facts, including those regarding the financial position, business strategy, management plans and objectives for future operations. 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 may 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.
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