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Risk Categories
The following broad categories of risks have been considered in the ʀ Strategic Risk – includes the range of external events and
risk management framework: trends (like Government policy) that can adversely impact the
Company’s strategic growth trajectory and destroy stakeholder
value.
Strategic ʀ Reputational Risk – includes range of events that creates
Risk a mismatch between stakeholder expectations and his/her
perception about the Company’s performance around those
expectations.

Financial Reputational ʀ Operational Risk – are those risks which are associated with
Risk Risk operational uncertainties like failure in critical equipment,
attrition, etc.
ʀ Regulatory and Compliance Risk – Risks due to inadequate Integrated Report
compliance of regulations, contractual obligations and
intellectual property violations leading to litigation and loss of
reputation.
Regulatory and Operational
Compliance Risk ʀ Financial Risk – This covers financial risks facing the
Risk
organisation in terms of internal systems, planning, funding,
etc.
Cautionary Statement
Statements in the Management Discussion and Analysis describing the objectives, projections, estimates and expectations of the Company, its
direct and indirect subsidiaries and its associates, may be ‘forward looking statements’ within the meaning of applicable laws and regulations.
Actual results might differ substantially or materially from those expressed or implied. Important factors that could make a difference to the
Company’s operations include, among others, economic conditions affecting demand/supply, price conditions in the domestic and overseas
markets in which the Company operates, changes in the Government regulations, tax laws and other statutes and incidental factors. Statutory Reports

Financial Statements

Management Discussion and Analysis 107