Approach to reporting

This is the third integrated report of JSW Steel, prepared in accordance with the International Integrated Reporting <IR> framework published by the International Integrated Reporting Council (IIRC). This report has been published with a view to transparently communicate to stakeholders the Company’s ability to create value in the short, medium and long term. The report dwells on JSW Steel’s achievements, its model of value creation, holistic performance, strategy and risk management and mitigation. There has been no restatements of information in this report, compared to previous report published on 10 October 2019.

Reporting period

The report contains information from 01 April 2019 to 31 March 2020.

Frameworks and standards used in reporting

Apart from abiding by the guiding principles and content elements of the International <IR> Framework, this report has been prepared in accordance with the GRI Standards: Core option. It has also taken into account the applicable requirements and principles of the following:

• United Nations Sustainable Development Goals (UN SDGs)
• Worldsteel guidelines
• National Guidelines on Responsible Business Conduct (NGRBC)
• Companies Act, 2013 (and the rules made thereunder)
• Indian Accounting Standards
• Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Secretarial Standards issued by the Institute of Company Secretaries of India

JSW Steel discloses climate change-related information to the CDP platform.

Scope and boundary

The report primarily covers strategic and financial information that pertains to JSW Steel, its value chain, and its national and international subsidiaries. References to joint ventures and overseas operations are also made part of strategic discussions. Non-financial information covered in this report is limited to the Company’s major manufacturing operations / key facilities in India.

Assurance

The integrity of the information presented in this report has been assured by the Company’s Board and Management, as Those Charged With Governance (TCWG). The non-financial information is assured by KPMG, as third-party auditors.

Forward-looking statement
Certain statements in this report concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition within the steel industry, including those factors that may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed price, fixed time frame contracts, our ability to commission mines within contemplated time and costs, our ability to raise the finance within time and cost, client concentration, restrictions on immigration, our ability to manage our internal operations, reduced demand for steel, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which the Company has made strategic investments, withdrawal of fiscal/ governmental incentives, impact of regulatory measures, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorised use of our intellectual property and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.

 

For our other stakeholder communications,
please visit https://www.jsw.in/investors/steel

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