Page 2 - Tata_Chemicals_yearly-reports-2020-2021

Basis of Reporting Materiality Assurance Engagements (ISAE) 3000 Revised our six capitals
We cover key material aspects, identified through and Type 1 “Moderate level” of Assurance Responsive.
We have based our annual report on the principles
of Integrated Reporting <IR>, a global benchmark ongoing stakeholder engagement and addressed under AA1000 Assurance Standard (AA1000AS Financial Capital
for best practices in corporate reporting with our by various programmes or action points with V3) in respect of the Principles of inclusivity, A balanced cost-effective funding mix
philosophy of making disclosures beyond statutory measurable targets. materiality, responsiveness and impact (debt and equity) and deployed for Resilient.
norms. With each passing year, we continue to Responsiveness as defined in the AA1000 Accountability
enrich our report with additional disclosures to This Report, amongst one of our interaction and Principles Standard (2018) (the “AA1000 sustaining and creating value across
provide relevant information to all our stakeholders communication elements, reflects our ability to Accountability Principles”). The assurance all capitals
on our value creation process using the multiple manage our operations while accounting and criteria, methodology and conclusion are Responsible.
capitals which helps them make informed responding to stakeholders' concerns. presented in the assurance report. The Manufactured Capital
decisions. assurance report is available on the Company’s
Impact website at: https://www.tatachemicals.com/ Infrastructure such as plants, warehousing
This Report is prepared in accordance We are accountable to the larger ecosystem and IRAssurance2021.htm. and logistics facilities and physical assets that With eight decades of customer-centric approach, we
with the: we continuously monitor and evaluate our impact enable us to ensure efficient operations and respond with agility to all stakeholders’ needs to create
Companies Act, 2013 (and the Rules made across our value chain. The Report covers the Forward-looking statements generate long-term returns value and being resilient during the most challenging
thereunder) information that is material to our stakeholders Certain statements in this Report regarding periods. sustainability forms the very basis of our business
Indian Accounting Standards and the Company and presents an overview of our business operations may constitute Intellectual Capital growth aspirations in line with our commitments to
the Company's operations along with associated
SEBI (Listing Obligations and Disclosure activities that help in short, medium and long- forward-looking statements. These include all corporate responsibility.
Requirements) Regulations, 2015 term value creation. These issues have significant statements other than statements of historical Science knowledge, research & development
Secretarial Standards business impact and are key to the Company’s fact, including those regarding the financial (R&D) capabilities, information technology
Internationally recognised value-creation process. position, business strategy, management plans infrastructure and digitalisation which
and objectives for future operations. Forward-
enables us to develop competitive products
frameworks and guidelines followed looking statements can be identified by words and win market share
include: Accountability such as 'believes', 'estimates', 'anticipates',
The Management of the Company under the 'expects', 'intends', 'may', 'will', 'plans', 'outlook'
United Nations Global Compact supervision of the Managing Director has reviewed and other words of similar meaning in social & Relationship Capital
Global Reporting Initiative (GRI) Standards the Report content. connection with a discussion of future operating The collaborative relationships with the
AA1000 Accountability Principles 2018 or financial performance.
<IR> framework of the International Integrated Reporting period, scope and Forward-looking statements are necessarily communities, supply chain partners and
Reporting Council (IIRC) dependent on assumptions, data or methods customers led by our welfare initiatives to
assurance strengthen our reputation of long-term
The following principles of AA1000 This Report covers financial and non-financial that may be incorrect or imprecise and that partner of choice and secure licence
may be incapable of being realised and as such,
Accountability Principles 2018 have information and activities of Tata Chemicals Limited are not intended to be a guarantee of future to operate At Tata Chemicals Limited, we Our business model integrates
been applied: (‘the Company’ or ‘TCL’) for the period April 1, 2020 results, but constitute our current expectations have drawn strength from our core all these advantages to retain a
Inclusivity to March 31, 2021. While the financial information based on reasonable assumptions. Actual results Human Capital competencies; science expertise of sustainable competitive edge.
We commit accountability to stakeholders directly has been audited by B S R & Co. LLP, Chartered could differ materially from those projected 80+ years; differentiated products Alongside, we make continuous efforts
or indirectly impacted by our organisation. We Accountants, the non-financial information as in any forward-looking statements due to The knowledge, skills, experience and and solutions for businesses across to simplify our business and scale our
have mapped them and have processes to ensure referred to in the assurance report has been assured various events, risks, uncertainties and other motivation of our employees who enable us several key sectors; manufacturing and portfolio across new, value-added
inclusion of their concerns and expectations. We by Price Waterhouse Chartered Accountants LLP factors. We neither assume any obligation to create value
continue to develop our stakeholder engagement (PWCALLP). nor intend to update or revise any forward- operational excellence; international chemistries. Each business decision,
and sustainability capacity at corporate and The assurance is in accordance with the limited looking statements, whether as a result of new natural Capital distribution capabilities; committed followed by action, has the principles
manufacturing levels. assurance criteria of the International Standards on information, future events or otherwise. and highly skilled teams and corporate of sustainability embedded in it.
The renewable and non-renewable natural governance benchmarked to the
resources such as raw materials, land, water
United nations sustainable Development Goals (sDGs) prioritised highest standards.
and energy which we use in our operations
to generate social and economic value and
the resultant environmental impacts

ConTenTs
Integrated Report statutory Reports Financial statements
02 Delivering Science-led Solutions for a Better 12 Strategy to Unlock Potential and Deliver Value 34 Intellectual Capital: Building Competitive 46 Natural Capital: Addressing Environmental 60 Board’s Report 148 Standalone Financial Statements
Tomorrow Sustainably Edge with Innovation Challenges for a Sustainable World 87 Management Discussion and Analysis 216 Consolidated Financial Statements
04 FY 2020-21 Operational and Strategic 16 Material Issues Impacting Value Creation 36 Digitalisation 50 Basic Chemistry Products 109 Corporate Governance Report 299 Form AOC-1
Highlights 19 Engaging with Our Stakeholders 37 Strengthening our People, Assets and 54 Performance Materials 133 Business Responsibility Report
05 Responding to Covid-19 with Resilience 20 Risk Management Environmental Safety Practices 55 Nutrition Sciences
06 Ensuring Good Governance 26 Financial Capital: Managing Finances 40 Human Capital: Building a Diverse, Future- 57 Agri Sciences
08 Corporate Information Prudently Ready Workforce 59 Results at Glance 301 notice
09 MD & CEO’s Message 28 Manufactured Capital: Focussing on Operational 42 Social and Relationship Capital: Contributing 317 Financial statistics
10 Our Business Model Excellence and Quality Leadership to a Thriving Society 319 Abbreviations