OUR REPORT

The Integrated Annual Report of Nuvoco Vistas Corporation Limited (hereafter referred to as ‘NVCL,’ ‘Nuvoco,’ ‘The Company,’ and ‘We’) for FY 2023-24 includes a comprehensive and transparent disclosure of the financial and non-financial parameters, with an endeavour to create long-term value for all our stakeholders. It adheres to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Value Reporting Foundation’s Integrated Reporting Framework and other globally accepted standards.

REPORTING SCOPE AND BOUNDARY

The information is reported for the period from April 1, 2023 to March 31, 2024. The Report covers the financial and non-financial parameters including details about our operations of Cement manufacturing, Ready-Mix Concrete and Modern Building Materials. The Non-Statutory section, Management Discussion and Analysis, Business Responsibility and Sustainability Report, and Consolidated Financials contain consolidated figures unless stated otherwise.

REPORTING FRAMEWORK

This Report is in line with the following frameworks:

  • The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • The Companies Act, 2013 (and the rules made thereunder)
  • Indian Accounting Standards (Ind AS)
  • Secretarial Standards issued by The Institute of Company Secretaries of India
  • The Business Responsibility and Sustainability Reporting (BRSR) framework by the Securities and Exchange Board of India (SEBI)
  • Integrated Reporting (IR) framework of the Value Reporting Foundation (The Value Reporting Foundation is a global non-profit organisation comprising the International Integrated Reporting Council (IIRC) and Sustainability Accounting Standards Board (SASB)
  • GRI Universal Standard 2021
  • The United Nations Sustainable Development Goals (UN SDGs)

MANAGEMENT ASSURANCE

The Company’s Senior Management, under the supervision of the Managing Director, have reviewed the Report. The Board Members of the Company have also provided the required governance oversight.

INDEPENDENT ASSURANCE

The standalone and consolidated financial statements contained in the Financial Statements section are audited by statutory auditors - M/s. M S K A & Associates. The limited assurance on select non-financial environmental performance indicators was carried by Ernst & Young Associates LLP. The assurance is based on the International Standard on Assurance Engagements (ISAE) 3000. The assurance statement is part of this Report.