Page 2 - Tata_Chemicals_yearly-reports-2019-20

Basis of Reporting

The principles of Integrated Reporting <IR> have emerged as a Materiality
benchmark for global best practice in corporate reporting. We We cover key material aspects that have been identified through
have based our annual report on these principles for transparency our ongoing stakeholder engagement and are addressed by
and disclosures beyond statutory norms. FY 2019-20 is the fifth various programmes or action points with measurable targets.
year of such reporting. Through <IR>, we intend to enrich our
reporting for all stakeholders by providing information on our Responsiveness
value creation process using the interlinkages of multiple capitals.
Our reporting addresses a gamut of stakeholders, each having
This report is prepared in accordance with the Companies Act, their own needs and interests. This report is one element
2013 (and the Rules made thereunder), Indian Accounting of our interaction and communication. It reflects how we
Standards, the SEBI (Listing Obligations and Disclosure manage our operations by accounting and responding to
Requirements) Regulations, 2015 and the Secretarial Standards. stakeholder concerns.
We have also followed internationally recognised frameworks and
guidelines of United Nations Global Compact, Global Reporting Reporting period and scope
Initiative (GRI) and AA1000 Framework for Accountability and This report covers financial and non-financial information and
the Integrated Reporting <IR> framework of the International activities of Tata Chemicals Limited (‘the Company’ or ‘TCL’) and
Integrated Reporting Council (‘IIRC’). We apply the following key domestic and overseas subsidiaries during the period
principles of AA1000 AS (2008): April 1, 2019 to March 31, 2020. The report’s financial figures
are audited by BSR & Company LLP, Chartered Accountants
Inclusivity and the non-financial information are assured by Ernst & Young
We commit accountability to stakeholders who are impacted, Associates LLP.
directly or indirectly, by our organisation. We have mapped
our stakeholders and have processes to ensure inclusion of
their concerns and expectations. We continue to develop our
stakeholder engagement and sustainability capacity at corporate
and manufacturing levels.

Assurance Statement Forward-Looking Statements
The non-financial information disclosed in this Report, on a Certain statements in this Report regarding our business
voluntary basis, is as per the Integrated Reporting <IR> Framework operations may constitute forward-looking statements. These
of the IIRC and has undergone an independent assurance by include all statements other than statements of historical fact,
Ernst & Young Associates LLP. This assurance has been done including those regarding the financial position, business
as per the ‘Limited’ criteria of the ISAE3000 assurance standard strategy, management plans and objectives for future
(International Federation of Accountants’ International Standard for operations. Forward-looking statements can be identified
Assurance Engagements Other than Audits or Reviews of Historical by words such as ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’,
Financial Information) as well as the ‘Type 1, Moderate’ criteria of ‘intends’, ‘may’, ‘will’, ‘plans’, ‘outlook’ and other words of similar
the AccountAbility AA1000 AS assurance standard. The specific meaning in connection with a discussion of future operations
environmental and social performance data subjected to this or financial performance.
assurance, approach, limitations as well as the assurance conclusion Forward-looking statements are necessarily dependent on
are presented in the Assurance Statement available at assumptions, data or methods that may be incorrect or imprecise
https://www.tatachemicals.com/IRAssurance201920.htm.
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.

United Nations Sustainable Development Goals (SDGs) prioritised