Our seventh annual integrated report provides a holistic analysis of our strategic vision, performance, governance and value creation. It provides a concise overview of our overall performance and prospects to assist the reader in making an informed decision on our ability to create value in the short, medium and long term, and on the future viability of our business.
The financial and statutory data presented in the Integrated Report & Annual Accounts 2021-22 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 issued by The Institute of Company Secretaries of India. This Report is prepared in accordance with the Integrated Reporting
This Report describes our business model, strategy, significant risks, opportunities and issues, our overall performance and related outcomes and prospects for the year under review. Further to our financial performance, we also present information relating to our non-financial (social and environmental) and governance performance.
This Report predominantly covers information with respect to Tata Steel’s plants located at Jamshedpur (Jharkhand), Kalinganagar and Meramandali (Odisha), Raw Materials Division and Profit Centres. However, certain sections of this Report include KPIs of our major steel-making subsidiaries.
Assurance on financial statements has been provided by independent auditors Price Waterhouse & Co. Chartered Accountants LLP. Reasonable and Limited Assurance on certain agreed/identified sustainability indicators (Refer assurance reports for indicators specific to reasonable and limited assurance) in this report has been provided by Price Waterhouse & Co. Chartered Accountants LLP, in accordance with the International Standards on Assurance Engagements (ISAE) 3000 (revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information. The subject matter, criteria, procedures performed and assurance conclusions are presented in the assurance reports available on our website. The reports issued by Price Waterhouse & Co. Chartered Accountants LLP is available on our website at www.tatasteel.com or can be accessed at https://bit.ly/3tBer2n.
This report focusses on factors that have the potential to significantly affect our ability to create value in the short, medium and long term and which are of most interest to investors, the primary audience. Report content and presentation are based on issues material to Tata Steel and its stakeholders. Material issues are gathered from multiple channels and forums of engagement across the organisation and from external stakeholders. In FY 2018-19, Tata Steel updated its Environmental, Social and Governance (ESG) material issues and incorporated them into its long-term plans.
To optimise governance oversight, risk management and controls, the contents of this Report have been reviewed by the Senior Executives of the Company, including the Chief Executive Officer & Managing Director; Executive Director & Chief Financial Officer; and the Company Secretary & Chief Legal Officer (Corporate & Compliance).
We publish our integrated report annually. This Report covers the performance of Tata Steel and its subsidiaries, associates and investments for the financial year starting from April 1, 2021 to March 31, 2022. For KPIs, comparative figures for the last three to five years have been incorporated in this Report to provide a holistic view.
Certain statements in this Report regarding our business operations may constitute forward-looking statements. These include all statements other than statements of historical facts, 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.
Our Chairman, N. Chandrasekaran,
was conferred the Padma Bhushan, one of India's highest civilian awards, in the field of Trade and Industry.
