Our Approach to Reporting

This is the third Integrated Report (IR) of Tata Steel Limited (TSL). Through this Report, we aspire to provide to our stakeholders an all-inclusive depiction of the organisation’s value creation using both financial and non-financial 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.

Independent Assurance Assurance on financial statements has been provided by independent auditors Price Waterhouse & Co. Chartered Accountants LLP and non-financial statements by KPMG. The certificate issued by KPMG is available on our website at www.tatasteel.com or can be accessed at https://bit.ly/2HOMSaN

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 Report is prepared in accordance with the framework of the International Integrated Reporting Council (IIRC) and discloses performance against the Key Performance Indicators (KPIs) relevant to Tata Steel, as per the Global Reporting Initiative (GRI) G4 Guidelines, the United Nations Global Compact (UNGC) principles, the Securities and Exchange Board of India (SEBI) and World Steel Association (WSA).

To optimise governance oversight, risk management and controls, the content of this Report have been reviewed by the senior executives of the Company, including the Chief Executive Officer and Managing Director, Executive Director and Chief Financial Officer, Vice President (VP) Safety, Health and Sustainability and Company Secretary (CS).

Reporting Period

The financial information is reported for the period April 1, 2017 to March 31, 2018. Some parts of the nonfinancial information, including Directors’ Report, are provided as on May 16, 2018. Comparative figures for last three to five years have been incorporated in the Report to provide a holistic view to the stakeholders.

Scope and Boundary

This Report covers information on 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 presents the issues that could substantively affect the organisation’s ability to create value in the short, medium or long-term and the process by which we address them.

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 operational 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.

Antwerp Port House in Belgium

iGATE Skywalk in Bengaluru

Louvre, Abu Dhabi

Aurangabad Airport

Tata Steel products have played a part in making of the structures featured on the cover page. These structures embody the strength, innovation and futuristic outlook that the Company represents.