About the report

Basis of our presentation

Our approach to reporting

The fifth integrated report of JSW Steel is prepared in accordance with the International Integrated Reporting framework published by the International Integrated Reporting Council (IIRC) (now the Value Reporting Foundation). This Report has been published to transparently communicate to stakeholders the Company’s ability to create value in the short, medium and long term. The report focuses on JSW Steel’s achievements, its model of value creation, holistic performance, strategy and risk management and mitigation. There are no restatements of information in this report, compared to our preceding report.

Reporting period

01st April 2021 - 31st March 2022

Responsibility statement

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).

Board’s profile

Assurance

The non-financial information is assured by KPMG Assurance and Consulting Services LLP as third party assurance provider. The financial information is audited by S R B C & Co. LLP.

Restatements of information

Reinstated information from our preceding Integrated report for FY 2020-21, has been denoted by in this report.

Frameworks, guidelines and standards

Apart from abiding by the guiding principles and content elements of the International Framework (January 2021) 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, including voluntary compliance to the Business Responsibility and Sustainability Report (BRSR) framework

Secretarial Standards issued by the Institute of Company Secretaries of India

JSW Steel also discloses climate change related information to the CDP every year.

Scope and Boundary

Integrated Reporting

Strategic
disclosures

  • JSW Steel Vijayanagar
  • JSW Steel Dolvi
  • JSW Steel Salem
  • JSW Steel Coated Products Ltd.
  • Amba River Coke Ltd.
  • JSW Industrial Gases Ltd.
  • Vardhaman Industries Ltd.
  • JSW Vallabh Tinplate Pvt. Ltd.
  • Asian Color Coated Ispat Ltd. (ACCIL)
  • JSW Ispat Special Products Ltd.
  • Bhushan Power and Steel Ltd.
  • JSW Steel USA Baytown
  • JSW Steel USA Ohio
  • JSW Steel Italy
  • JSW Steel Anjar

Financial
disclosures

  • JSW Steel Vijayanagar
  • JSW Steel Dolvi
  • JSW Steel Salem
  • JSW Steel Coated Products Ltd.
  • Amba River Coke Ltd.
  • JSW Industrial Gases Ltd.
  • Vardhaman Industries Ltd.
  • JSW Vallabh Tin Plate Private Ltd.
  • Asian Color Coated Ispat Ltd. (ACCIL)
  • Bhushan Power and Steel Ltd.
  • JSW Steel Anjar

Non-financial
disclosures

  • JSW Steel Vijayanagar
  • JSW Steel Dolvi
  • JSW Steel Salem
  • JSW Steel Coated Products Ltd.
  • Amba River Coke Ltd.
  • JSW Industrial Gases Ltd.
  • JSW Mining operations

Disclosures
published separately

  • JSW Ispat Special Products Ltd.
  • JSW Steel USA Baytown
  • JSW Steel USA Ohio
  • JSW Steel Italy

Precautionary principle

We follow a precautionary approach towards minimising our negative impact on the environment. We consistently undertake efforts to reduce the Company’s overall environmental footprint.

Forward Looking Statements

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 forwardlooking statements that may be made from time to time by or on behalf of the Company.