OUR APPROACH TO REPORTING
Tata Steel has been publishing Sustainability Reports following the Global Reporting Initiative (GRI) Framework since 2001. Commencing last year, we transitioned towards Integrated Reporting. This is our second year in the journey of publishing the Integrated Report. Through this Report, we aspire to provide to our stakeholders an all-inclusive depiction of the organisation’s value creation using both financial and nonfinancial resources. The Report provides insights into our key strategies, operating environment, material issues emanating from key stakeholder concerns and the respective mitigation strategies, the operating risks and opportunities, governance structure and the Company’s approach towards long-term sustainability.
Reporting Principle
The financial and statutory data
presented in this Report is in line
with the requirements of the
Companies Act, 2013 (including
the rules made thereunder), Indian
Accounting Standards, the Securities
and Exchange Board of India
(Listing Obligations and Disclosure
Requirements) Regulations, 2015
and the Secretarial Standards. The
non-financial section of the Report
is guided by the framework of the
International Integrated Reporting
Council (IIRC) and encompasses the
key performance indicators as per
GRI, UN Sustainable Development
Goals, Securities and Exchange Board
of India and World Steel Association.
In order to optimise governance
oversight, risk management and
controls, the contents of this Report
have been reviewed by the members
of the Enterprise Management
Council consisting of the Managing
Director (India & South East Asia),
Group Executive Director (Finance,
Corporate & Europe), Company
Secretary and other Senior Executives
of the Company.
Reporting Period
The financial information is reported for the period April 1, 2016 to March 31, 2017. Some parts of the non-financial information including Directors’ Report are provided as on May 16, 2017. Comparative figures for last 3 to 5 years have been incorporated in the Report to provide a holistic view to the stakeholders.
Scope and Boundary
This Report is for Tata Steel India, including the Tata Steel plants (at Jamshedpur, Jharkhand and Kalinganagar, Odisha), Raw Material Divisions and Profit Centres.
Our approach to Materiality
The Report presents an overview of our business and associated activities that help in long-term value creation. The Report also captures imminent issues and their possible impact on our operations, so as to enable investors and other interested stakeholders to make informed decisions with regard to their engagement with the Company.
Independent Assurance
Assurance on financial statements has been provided by independent auditors Deloitte Haskins & Sells LLP and non-financial statements by Bureau Veritas (India) Private Limited. The certificate issued by Bureau Veritas (India) Private Limited is available on our website www.tatasteel.com
Forward Looking Statements
Certain statements in this Report regarding our business operations may constitute forward-looking statements. These include all statements other than statements of historical fact, including those regarding the financial position, business strategy, management plans and objectives for future operations.
Forward-looking statements can be identified by words such as 'believes', 'estimates', 'anticipates', 'expects', 'intends', 'may', 'will', 'plans', 'outlook' and other words of similar meaning in connection with a discussion of future operating or financial performance.
Forward-looking statements are necessarily dependent on assumptions, data or methods that may be incorrect or imprecise and that may be incapable of being realised, and as such, are not intended to be a guarantee of future results, but constitute our current expectations based on reasonable assumptions. Actual results could differ materially from those projected in any forward-looking statements due to various events, risks, uncertainties and other factors. We neither assume any obligation nor intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.