Bharat-forge

Starting FY 2020, Bharat Forge Limited has taken its first step towards Integrated Reporting (IR). Through this report, we intend to provide information on how we are using the six capitals (financial, manufactured, human, intellectual, social & relationship and natural) to create value for our stakeholders.

In this report, we have tried to cover as many elements, however, we recognize that there still is a long way to go. As an institution with high regards for integrity and transparency, we remain committed to include more (IR) elements in subsequent reports to make it more holistic and aligned to the guidelines provided by the International Integrated Reporting Council.

B. N. Kalyani

Chairman and Managing Director

Basis of Reporting

The Integrated Reporting (IR) principles have globally become a benchmark for best practice in corporate reporting for its transparency and disclosures beyond statutory norms. Starting this year, we, at Bharat Forge Limited, have taken our first step in our (IR) journey which is also in line with the Securities and Exchange Board of India’s (SEBI) circular dated February 6, 2017 that recommends the top 500 listed entities to do so.

The report intends to serve as an all-inclusive communication to disclose our value creation process using financial and non-financial information – financial, manufactured, intellectual, human, social & relationship and natural capitals. We provide insights on our business models, performance and prospects in context of external environment to help stakeholders evaluate our performance and take an informed decision regarding their engagement with us.

Reporting Principle

We have prepared this report in accordance with the Companies Act, 2013 (and the Rules made thereunder), Indian Accounting Standards, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Secretarial Standards. Over and above this, the principles of (IR) as stated by International Integrated Reporting Council (IIRC) has been followed.

Boundary and Scope of Reporting

The report covers financial and non-financial information and activities of Bharat Forge Limited, India for the period of April 1, 2019 to March 31, 2020.

Our Capitals

Financial Capital

The financial capital represents the amount of capital that we employ in the business to support our operations and drive our business strategy to generate surplus for the investors and shareholders.

Manufactured Capital

Manufactured capital represents our physical assets – state-of-the-art manufacturing facilities and equipment – that enable us to produce diverse range of products for customers.

Intellectual Capital

Intellectual capital represents our research and development (R&D), technical excellence and digital readiness that enable us to deliver innovative solutions in products and processes, and thus strengthen our competitiveness in the industry.

Human Capital

Human capital represents the competencies, experience and motivation of our people that enable us to innovate, run business smoothly, serve customers and achieve business strategy.

Social and Relationship Capital

Social and relationship capital represents the quality of relationship that we have with our customers and the communities. It helps us to enhance our reputation, grow business and give back to the society.

Natural Capital

Natural capital represents the renewable and non-renewable environmental resources that we use in our operations as well as the impact of our operations on the environment.

About the Report