About the Report
Basis of Reporting
This is our fourth year of integrated reporting based on the principles of Integrated Reporting
Reporting Principle
This report has been prepared in accordance with:
- Companies Act, 2013 (and the Rules made thereunder)
- Indian Accounting Standards, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Secretarial Standards
Other international guidelines in accordance with:
framework of International Integrated Reporting Council (IIRC) - Global Reporting Initiative (GRI) Standards
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, 2022 to March 31, 2023. We have captured significant material events up to Board Meeting held on May 05, 2023.
Board Assurance
The members of the Board acknowledge having applied their collective minds in the preparation of this report. They accept the responsibility for its integrity and are of the opinion that the report addresses all material issues and provides a fair and balanced view of the Company’s performance.
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 operating 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 realized 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.
United Nations Sustainable Development Goals (UN SDGs)
Financial Capital
It represents the capital that we employ in the business to support our operations and execute business strategy for generating surplus for the investors and shareholders.
Manufactured Capital
It represents our modern manufacturing facilities and equipment. We continually invest financial capital in it to support our growing scale of operations and enable manufacturing of diverse and evolving range of products.
Intellectual Capital
It represents our knowledge, process and technical excellence and digital readiness and innovation capabilities led by our research and development (R&D) centers which provide us a competitive edge in the industry. We are continually investing in these to strengthen our ability to develop innovative solutions as per the evolving trends in the industry.
Human Capital
It represents the competencies, experience, engagement level and motivation of our people. They drive the organization's ability to innovate and run business efficiently, better serve customers and maintain strong relations and achieve strategies.
Social and Relationship Capital
It represents the quality of relationships that we have with the customers, business partners and communities which enhances our reputation, and facilitates in business growth and giving back to the society.
Natural Capital
It represents the renewable and non-renewable environmental resources that we use in our operations and the impact our operations have on the environment. We are continually investing in these towards making our operations more sustainable.
