Page 2 - Tata_Chemicals_yearly-reports-2021-22

Basis of Reporting Materiality Engagements (ISAE) 3000 Revised and Contents

We have based our annual report on the We cover key material aspects, identified Type 1 “Moderate level” of Assurance
principles of Integrated Reporting <IR>, through stakeholder engagement and under AA1000 Assurance Standard Integrated Report
a global benchmark for best practices in addressed by various programmes or (AA1000AS V3) in respect of the Principles 02 Tata Chemicals’ approach to resilience
corporate reporting with our philosophy action points with measurable targets. of inclusivity, materiality, responsiveness 10 About Tata Chemicals
of making disclosures beyond statutory and impact as defined in the AA1000 12 Awards and Recognitions
norms. With each passing year, we Responsiveness Accountability Principles Standard (2018) 13 MD & CEO's Message
continue to enrich our Report with This Report, amongst one of our (the “AA1000 Accountability Principles”). 14 Our Business Model
additional disclosures to provide relevant interaction and communication The assurance criteria, methodology 16 Using the Six Capitals in Business Model
information to all our stakeholders on elements, reflects our ability to manage and conclusion are presented in the to Create Value
our value creation process using the our operations while accounting and assurance report. The assurance report 18 Strategy: Pursuing Growth and
multiple capitals which helps them make responding to stakeholders' concerns. is available on the Company’s website Competitiveness Focussed on
informed decisions. at: https://www.tatachemicals.com/ Green Chemistry
Impact IRAssurance2022.htm. 22 Demonstrating Resilience Sustainably
This Report is prepared in We are accountable to the larger 24 Managing Material Matters and
accordance with the: ecosystem and we continuously monitor Forward-looking statements Aligning Priorities
Companies Act, 2013 and the Rules and evaluate our impact across our value Certain statements in this Report 28 Building Trusted Relations
with Stakeholders
made thereunder chain. The Report covers the information regarding our business operations may 30 Risk Management
Indian Accounting Standards that is material to our stakeholders and constitute forward-looking statements. 36 Innovating to Deliver Green and
the Company and presents an overview These include all statements other than
SEBI (Listing Obligations and Disclosure statements of historical facts, including Sustainable Solutions
Requirements) Regulations, 2015 of the Company's operations along with 39 Progressing to a Digital Future
associated activities that help in short, those regarding the financial position,
Secretarial Standards medium and long-term value creation. business strategy, management plans 40 Resilience with Focus on Sustainability
These issues have significant business and objectives for future operations. 43 Amplifying Health and Safety
Internationally recognised Forward-looking statements can be Management
frameworks and guidelines impact and are key to the Company’s 46 Building Excellence for Tomorrow
followed include: value-creation process. identified by words such as 'believes',
'estimates', 'anticipates', 'expects', 48 Committed to Sustainable and Expertise in chemistry, adoption of Green Chemistry
United Nations Global Compact Accountability 'intends', 'may', 'will', 'plans', 'outlook' Responsible Leadership for sustainable future growth, world-class facilities,
Global Reporting Initiative (GRI) The Management of the Company under and other words of similar meaning in 50 Promoting Inclusive Development talented team and commitment to all stakeholders
Standards the supervision of the Managing Director connection with a discussion of future 54 Strong Governance Practices
AA1000 Accountability Principles 2018 & CEO has reviewed the Report content. operating or financial performance. 56 Basic Chemistry Products are at the core of our business, enabling us to create
Forward-looking statements are 62 Specialty Products differentiation and deliver distinctive value to all.
<IR> framework of the International Reporting period, scope and 70 Results at a Glance
Integrated Reporting Council (IIRC) necessarily dependent on assumptions,
assurance data or methods that may be incorrect 71 Corporate Information At Tata Chemicals, the above aspects have enabled us to create a business model that is
The following principles of AA1000 This Report covers financial and non- or imprecise and that may be incapable 72 Key details at a Glance resilient and upholds our competitive edge across markets and products. It enables us to
Accountability Principles 2018 financial information and activities of of being realised and as such, are not be adaptable, agile to navigate challenges, grow and consolidate our leadership position.
have been applied: Tata Chemicals Limited (‘the Company’ intended to be a guarantee of future Statutory Reports This was what we did in a challenging FY 2021-22.
Inclusivity or ‘TCL’) and its subsidiaries for the period results, but constitute our current 73 Board’s Report
April 1, 2021 to March 31, 2022. While the expectations based on reasonable 99 Management Discussion & Analysis
We commit accountability to stakeholders assumptions. Actual results could differ 120 Corporate Governance Report We successfully navigated through external uncertainties and challenges like rise
directly or indirectly impacted by our financial information has been audited by materially from those projected in 146 Business Responsibility & in input costs, extreme weather conditions, supply chain disruptions and increased
organisation. We have mapped them and B S R & Co. LLP, Chartered Accountants, any forward-looking statements due Sustainability Report environmental regulations through agility and adaptiveness. At the same time,
have processes to ensure inclusion of their the non-financial information as referred to various events, risks, uncertainties we remained nimble to quickly capture rising demand opportunities and deliver
concerns and expectations. We continue to in the assurance report has been and other factors. We neither assume Financial Statements on commitments.
to develop our stakeholder engagement assured by Ernst & Young Associates LLP. any obligation nor intend to update or
and sustainability capacity at corporate The assurance is in accordance with revise any forward-looking statements, 178 Standalone Financial Statements With demand continually improving, expansion projects on track and new business
and manufacturing levels. the limited assurance criteria of the whether as a result of new information, 250 Consolidated Financial Statements initiatives progressing well, we are set to leverage our chemistry of resilience and create
International Standards on Assurance future events or otherwise. 340 Form AOC-1 value. There is a sharper focus on sustainability through Green Chemistry at its core.
342 Notice
United Nations Sustainable Development Goals (SDGs) prioritised 357 Financial Statistics
359 Abbreviations